Man Group plc Boosts Stock Position in U.S. Bancorp (NYSE:USB)

Man Group plc grew its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 32.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,258 shares of the financial services provider's stock after buying an additional 11,926 shares during the quarter. Man Group plc's holdings in U.S. Bancorp were worth $2,308,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Nissay Asset Management Corp Japan ADV grew its position in U.S. Bancorp by 0.7% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 185,814 shares of the financial services provider's stock worth $9,010,000 after acquiring an additional 1,299 shares during the last quarter. NorthRock Partners LLC boosted its stake in U.S. Bancorp by 230.7% in the fourth quarter. NorthRock Partners LLC now owns 42,767 shares of the financial services provider's stock worth $2,046,000 after purchasing an additional 29,835 shares in the last quarter. Occudo Quantitative Strategies LP bought a new stake in shares of U.S. Bancorp during the fourth quarter worth $914,000. OMERS ADMINISTRATION Corp increased its stake in shares of U.S. Bancorp by 20.1% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 64,965 shares of the financial services provider's stock valued at $3,107,000 after buying an additional 10,882 shares in the last quarter. Finally, Obermeyer Wealth Partners increased its stake in shares of U.S. Bancorp by 186.5% in the fourth quarter. Obermeyer Wealth Partners now owns 13,027 shares of the financial services provider's stock valued at $623,000 after buying an additional 8,480 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

U.S. Bancorp Stock Performance

Shares of NYSE:USB traded down $0.26 during mid-day trading on Wednesday, reaching $43.48. The company had a trading volume of 861,269 shares, compared to its average volume of 9,064,473. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The company's 50-day moving average price is $41.00 and its 200-day moving average price is $45.74. The firm has a market cap of $67.74 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.73 and a beta of 0.97.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts' consensus estimates of $0.97 by $0.06. The firm had revenue of $6.96 billion during the quarter, compared to analyst estimates of $6.92 billion. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. During the same quarter last year, the business earned $0.78 earnings per share. As a group, equities research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is presently 49.50%.

Analyst Ratings Changes

A number of brokerages have commented on USB. Barclays decreased their price objective 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. Citigroup lowered their price target on shares of U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $43.50 target price (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Royal Bank of Canada reduced their target price on shares of U.S. Bancorp from $57.00 to $50.00 and set an "outperform" rating on the stock in a research note on Thursday, April 17th. Finally, DA Davidson reduced their price objective on shares of U.S. Bancorp from $54.00 to $49.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $50.89.

Insiders Place Their Bets

In related news, Director Aleem Gillani acquired 5,000 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were bought at an average cost of $37.32 per share, for a total transaction of $186,600.00. Following the completion of the transaction, the director now owns 15,000 shares in the company, valued at approximately $559,800. This trade represents a 50.00% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.23% of the company's stock.

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.