U.S. Bancorp $USB Shares Bought by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc grew its holdings in U.S. Bancorp (NYSE:USB) by 16.6% during the first quarter, HoldingsChannel.com reports. The fund owned 945,329 shares of the financial services provider’s stock after purchasing an additional 134,804 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in U.S. Bancorp were worth $49,157,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at about $1,887,497,000. Auto Owners Insurance Co lifted its position in U.S. Bancorp by 5,236.0% during the 4th quarter. Auto Owners Insurance Co now owns 33,350,000 shares of the financial services provider’s stock worth $1,779,556,000 after acquiring an additional 32,725,000 shares in the last quarter. Capital Research Global Investors purchased a new position in U.S. Bancorp in the 4th quarter worth approximately $296,377,000. SG Americas Securities LLC boosted its holdings in U.S. Bancorp by 3,451.9% in the 4th quarter. SG Americas Securities LLC now owns 4,332,659 shares of the financial services provider’s stock worth $231,191,000 after acquiring an additional 4,210,676 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its position in U.S. Bancorp by 20.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 24,919,079 shares of the financial services provider’s stock valued at $1,329,683,000 after acquiring an additional 4,153,080 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total value of $1,916,661.44. Following the sale, the executive vice president owned 51,292 shares in the company, valued at approximately $2,847,731.84. This represents a 40.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jodi L. Richard sold 40,000 shares of the company’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares in the company, valued at approximately $11,813,307. This trade represents a 16.18% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler reiterated a “buy” rating on shares of U.S. Bancorp in a research note on Thursday, February 26th. Royal Bank Of Canada upped their target price on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. JPMorgan Chase & Co. lowered their price target on shares of U.S. Bancorp from $58.00 to $57.50 and set an “underweight” rating for the company in a report on Thursday, April 30th. Barclays lifted their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday, April 17th. Finally, Oppenheimer boosted their price objective on shares of U.S. Bancorp from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $61.29.

U.S. Bancorp Price Performance

USB stock opened at $58.07 on Friday. The stock’s 50 day moving average is $55.69 and its two-hundred day moving average is $54.86. U.S. Bancorp has a 52-week low of $42.93 and a 52-week high of $61.19. The company has a market capitalization of $90.07 billion, a PE ratio of 12.17, a P/E/G ratio of 1.01 and a beta of 0.97. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.03.

U.S. Bancorp (NYSE:USB) last released its earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.14 by $0.04. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company had revenue of $7.32 billion during the quarter, compared to analysts’ expectations of $7.27 billion. During the same period in the prior year, the business posted $1.03 EPS. The business’s revenue was up 4.7% on a year-over-year basis. Analysts predict that U.S. Bancorp will post 5.08 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date is Tuesday, June 30th. U.S. Bancorp’s dividend payout ratio is 43.61%.

U.S. Bancorp Profile

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.