U.S. Bancorp (NYSE:USB) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. lowered its holdings in U.S. Bancorp (NYSE:USB) by 1.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 96,351 shares of the financial services provider’s stock after selling 1,865 shares during the quarter. Hartford Investment Management Co.’s holdings in U.S. Bancorp were worth $4,608,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in USB. FMR LLC grew its holdings in U.S. Bancorp by 32.7% in the third quarter. FMR LLC now owns 63,913,931 shares of the financial services provider’s stock valued at $2,922,784,000 after purchasing an additional 15,746,852 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of U.S. Bancorp by 153.0% during the 3rd quarter. Franklin Resources Inc. now owns 7,949,347 shares of the financial services provider’s stock worth $374,573,000 after buying an additional 4,807,662 shares during the last quarter. Los Angeles Capital Management LLC boosted its position in shares of U.S. Bancorp by 723.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 3,211,555 shares of the financial services provider’s stock worth $146,864,000 after buying an additional 2,821,642 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its stake in U.S. Bancorp by 109.7% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,531,400 shares of the financial services provider’s stock valued at $161,491,000 after acquiring an additional 1,847,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in U.S. Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 47,328,880 shares of the financial services provider’s stock worth $2,164,350,000 after acquiring an additional 1,796,336 shares during the last quarter. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lowered shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 price target on the stock. in a research report on Thursday, October 24th. Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a report on Monday, January 13th. Barclays boosted their price target on U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Compass Point increased their price objective on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a research note on Thursday, October 17th. Ten investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.21.

U.S. Bancorp Trading Down 0.1 %

Shares of USB opened at $47.52 on Thursday. The stock’s fifty day simple moving average is $48.88 and its 200 day simple moving average is $47.50. The firm has a market capitalization of $74.13 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.77 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The firm had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same quarter last year, the firm posted $0.99 earnings per share. U.S. Bancorp’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.21%. U.S. Bancorp’s dividend payout ratio (DPR) is 52.77%.

Insider Activity at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total value of $4,821,579.00. Following the completion of the sale, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $46.96, for a total value of $3,114,246.32. Following the sale, the insider now owns 209,482 shares in the company, valued at approximately $9,837,274.72. The trade was a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 219,812 shares of company stock worth $10,385,665. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

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.