U.S. Bancorp (NYSE:USB) Position Reduced by Auto Owners Insurance Co

Auto Owners Insurance Co trimmed its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 94.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,598 shares of the financial services provider's stock after selling 591,402 shares during the quarter. Auto Owners Insurance Co's holdings in U.S. Bancorp were worth $1,419,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in USB. FMR LLC lifted its position in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock worth $3,210,624,000 after buying an additional 3,211,815 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of U.S. Bancorp by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 33,937,360 shares of the financial services provider's stock worth $1,618,948,000 after buying an additional 850,763 shares during the last quarter. Northern Trust Corp lifted its position in shares of U.S. Bancorp by 10.9% in the 4th quarter. Northern Trust Corp now owns 17,050,568 shares of the financial services provider's stock worth $815,529,000 after buying an additional 1,670,305 shares during the last quarter. Invesco Ltd. lifted its position in shares of U.S. Bancorp by 48.1% in the 4th quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock worth $802,947,000 after buying an additional 5,449,949 shares during the last quarter. Finally, Norges Bank bought a new stake in U.S. Bancorp in the 4th quarter valued at about $777,524,000. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Souheil Badran sold 23,727 shares of the firm's stock in a transaction on Monday, July 21st. The shares were sold at an average price of $46.34, for a total transaction of $1,099,509.18. Following the completion of the transaction, the executive vice president owned 70,346 shares of the company's stock, valued at approximately $3,259,833.64. This trade represents a 25.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.23% of the stock is currently owned by insiders.

U.S. Bancorp Stock Performance

Shares of USB opened at $46.20 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.81 and a current ratio of 0.81. U.S. Bancorp has a twelve month low of $35.18 and a twelve month high of $53.98. The firm's 50 day moving average price is $44.82 and its two-hundred day moving average price is $44.25. The firm has a market cap of $71.97 billion, a P/E ratio of 11.05, a PEG ratio of 1.44 and a beta of 0.99.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.07 by $0.04. U.S. Bancorp had a net margin of 16.30% and a return on equity of 13.08%. The company had revenue of $7.06 billion for the quarter, compared to the consensus estimate of $7.07 billion. During the same period last year, the company earned $0.98 earnings per share. The firm's revenue was up 2.0% compared to the same quarter last year. On average, analysts forecast that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 4.33%. The ex-dividend date was Monday, June 30th. U.S. Bancorp's payout ratio is 47.85%.

Analyst Ratings Changes

USB has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price target on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Cowen began coverage on shares of U.S. Bancorp in a report on Wednesday, May 14th. They issued a "buy" rating on the stock. Piper Sandler dropped their target price on shares of U.S. Bancorp from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Barclays dropped their target price on shares of U.S. Bancorp from $61.00 to $56.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $43.50 price target (down previously from $51.00) on shares of U.S. Bancorp in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, U.S. Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $52.50.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.

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