U.S. Bancorp $USB Stake Reduced by AEGON ASSET MANAGEMENT UK Plc

Key Points

• AEGON Asset Management UK Plc trimmed its stake in U.S. Bancorp by 10.5% in Q4, selling 95,512 shares and leaving 810,525 shares (about 0.05%) valued at roughly $43.25 million.
• U.S. Bancorp beat estimates on April 16 with EPS of $1.18 versus $1.14 and revenue of $7.32B versus $7.27B, and it pays a quarterly dividend of $0.52 (annualized $2.08) for a yield near 3.7%.
• Insiders have been selling recently — Jodi L. Richard sold 40,000 shares and Mark G. Runkel sold 32,195 — while institutional investors own about 77.6% of the stock.

AEGON ASSET MANAGEMENT UK Plc cut its holdings in U.S. Bancorp (NYSE:USB - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 810,525 shares of the financial services provider's stock after selling 95,512 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc owned about 0.05% of U.S. Bancorp worth $43,250,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Guerra Advisors Inc acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $25,000. Financial Life Planners acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $25,000. Clayton Financial Group LLC acquired a new stake in U.S. Bancorp during the 4th quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $26,000. Finally, JPL Wealth Management LLC acquired a new stake in U.S. Bancorp during the 3rd quarter worth about $28,000. 77.60% of the stock is currently owned by institutional investors.

U.S. Bancorp Trading Down 1.8%

Shares of NYSE:USB opened at $55.62 on Friday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81. The stock's 50-day moving average is $54.25 and its 200-day moving average is $52.64. The company has a market cap of $86.34 billion, a P/E ratio of 11.66, a P/E/G ratio of 1.02 and a beta of 1.01. U.S. Bancorp has a 52-week low of $39.28 and a 52-week high of $61.19.

U.S. Bancorp (NYSE:USB - Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 18.26% and a net margin of 18.01%.The business had revenue of $7.32 billion during the quarter, compared to analysts' expectations of $7.27 billion. During the same quarter in the previous year, the firm earned $1.03 EPS. The firm's revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend was Tuesday, March 31st. U.S. Bancorp's dividend payout ratio is currently 43.61%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on USB shares. DA Davidson restated a "buy" rating and set a $65.00 price objective on shares of U.S. Bancorp in a report on Friday, April 17th. Royal Bank Of Canada upped their target price on U.S. Bancorp from $59.00 to $61.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Argus upped their target price on U.S. Bancorp from $62.00 to $63.00 and gave the company a "buy" rating in a report on Thursday, January 22nd. Truist Financial dropped their target price on U.S. Bancorp from $63.00 to $62.00 and set a "buy" rating on the stock in a report on Friday, April 17th. Finally, JPMorgan Chase & Co. dropped their target price on U.S. Bancorp from $62.00 to $58.00 and set an "underweight" rating on the stock in a report on Tuesday, April 7th. 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 assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.18.

Insider Activity at U.S. Bancorp

In other news, insider Jodi L. Richard sold 40,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider directly owned 207,251 shares of the company's stock, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark G. Runkel sold 32,195 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $60.65, for a total value of $1,952,626.75. Following the completion of the sale, the insider directly owned 97,728 shares of the company's stock, valued at $5,927,203.20. This represents a 24.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by corporate insiders.

About U.S. Bancorp

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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