Quantitative Investment Management LLC reduced its holdings in U.S. Bancorp (NYSE:USB) by 11.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 436,500 shares of the financial services provider’s stock after selling 54,900 shares during the quarter. Quantitative Investment Management LLC’s holdings in U.S. Bancorp were worth $23,387,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of USB. Meeder Asset Management Inc. acquired a new stake in U.S. Bancorp during the fourth quarter worth about $106,000. Delpha Capital Management LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth about $109,000. James Hambro & Partners acquired a new stake in U.S. Bancorp during the fourth quarter worth about $110,000. Horan Capital Advisors LLC. acquired a new stake in U.S. Bancorp during the third quarter worth about $112,000. Finally, Phocas Financial Corp. acquired a new stake in U.S. Bancorp during the second quarter worth about $109,000. 74.42% of the stock is currently owned by institutional investors.
U.S. Bancorp (USB) opened at $55.28 on Monday. U.S. Bancorp has a one year low of $49.53 and a one year high of $58.50. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.73. The stock has a market cap of $91,317.14, a P/E ratio of 16.12, a PEG ratio of 1.82 and a beta of 0.89.
USB has been the topic of a number of recent research reports. UBS Group downgraded U.S. Bancorp from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 12th. Barclays raised their price target on shares of U.S. Bancorp from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Piper Jaffray Companies upgraded shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $61.00 price target for the company in a research note on Friday, January 5th. Vining Sparks restated a “buy” rating and set a $64.00 price target on shares of U.S. Bancorp in a research note on Monday, January 8th. Finally, Jefferies Group restated a “buy” rating and set a $63.00 price target on shares of U.S. Bancorp in a research note on Monday, January 8th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. U.S. Bancorp currently has a consensus rating of “Hold” and an average target price of $58.64.
In related news, Vice Chairman Gillern Jeffry H. Von sold 13,641 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $55.02, for a total value of $750,527.82. Following the completion of the sale, the insider now owns 126,387 shares of the company’s stock, valued at $6,953,812.74. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman P.W. Parker sold 98,485 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $55.95, for a total transaction of $5,510,235.75. The disclosure for this sale can be found here. Insiders sold 168,016 shares of company stock valued at $9,356,775 in the last quarter. 0.43% of the stock is currently owned by corporate insiders.
ILLEGAL ACTIVITY NOTICE: This piece of content was first published by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/03/12/quantitative-investment-management-llc-has-23-39-million-holdings-in-u-s-bancorp-usb.html.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.