Securian Asset Management Inc. Cuts Position in U.S. Bancorp $USB

Key Points

• Securian Asset Management cut its U.S. Bancorp stake by 43.8% in the fourth quarter, leaving it with 42,268 shares valued at about $2.26 million.
• U.S. Bancorp’s latest quarterly results beat expectations, with EPS of $1.18 versus the $1.14 estimate and revenue of $7.32 billion, up 4.7% year over year.
• Analyst sentiment remains mostly positive, with a Moderate Buy rating and an average target price of $61.20, while the stock recently traded around $54.47 and offers a 3.8% dividend yield.

Securian Asset Management Inc. decreased its position in U.S. Bancorp (NYSE:USB - Free Report) by 43.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,268 shares of the financial services provider's stock after selling 32,887 shares during the period. Securian Asset Management Inc.'s holdings in U.S. Bancorp were worth $2,255,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in U.S. Bancorp by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider's stock valued at $7,810,665,000 after purchasing an additional 1,828,404 shares during the last quarter. State Street Corp lifted its stake in U.S. Bancorp by 0.9% in the third quarter. State Street Corp now owns 69,179,530 shares of the financial services provider's stock valued at $3,378,808,000 after purchasing an additional 648,943 shares during the last quarter. Davis Selected Advisers lifted its stake in U.S. Bancorp by 13.4% in the fourth quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider's stock valued at $1,176,148,000 after purchasing an additional 2,610,197 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC lifted its stake in U.S. Bancorp by 7.2% in the third quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider's stock valued at $858,290,000 after purchasing an additional 1,189,525 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in U.S. Bancorp by 1.1% in the third quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider's stock valued at $794,486,000 after purchasing an additional 172,645 shares during the last quarter. Hedge funds and other institutional investors own 77.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays upped their price objective on U.S. Bancorp from $65.00 to $67.00 and gave the company an "overweight" rating in a research note on Friday, April 17th. Truist Financial dropped their price objective on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a research note on Friday, April 17th. Evercore upped their price objective on U.S. Bancorp from $60.00 to $65.00 and gave the company an "in-line" rating in a research note on Thursday, February 5th. Weiss Ratings upgraded U.S. Bancorp from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 4th. Finally, JPMorgan Chase & Co. dropped their price objective on U.S. Bancorp from $58.00 to $57.50 and set an "underweight" rating on the stock in a research note on Thursday, April 30th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, U.S. Bancorp currently has an average rating of "Moderate Buy" and an average target price of $61.20.

Insider Activity

In other news, insider Jodi L. Richard sold 40,000 shares of the company's stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the sale, the insider directly owned 207,251 shares in the company, valued at $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the company's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president directly owned 51,292 shares in the company, valued at approximately $2,847,731.84. The trade was a 40.23% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.21% of the company's stock.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $54.47 on Tuesday. U.S. Bancorp has a one year low of $42.21 and a one year high of $61.19. The business has a fifty day moving average price of $53.99 and a 200-day moving average price of $53.27. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.81 and a quick ratio of 0.81. The firm has a market capitalization of $84.55 billion, a P/E ratio of 11.42, a PEG ratio of 1.00 and a beta of 1.00.

U.S. Bancorp (NYSE:USB - Get Free Report) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The firm had revenue of $7.32 billion for the quarter, compared to analysts' expectations of $7.27 billion. During the same period in the prior year, the business posted $1.03 earnings per share. The company's revenue was up 4.7% on a year-over-year basis. As a group, equities research analysts forecast that U.S. Bancorp will post 5.09 EPS for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 annualized dividend and a dividend yield of 3.8%. U.S. Bancorp's dividend payout ratio is currently 43.61%.

U.S. Bancorp Company Profile

U.S. Bancorp NYSE: USB is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.

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