Auto Owners Insurance Co Boosts Holdings in U.S. Bancorp $USB

Auto Owners Insurance Co boosted its stake in U.S. Bancorp (NYSE:USB) by 5,236.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,350,000 shares of the financial services provider’s stock after purchasing an additional 32,725,000 shares during the quarter. U.S. Bancorp comprises 0.4% of Auto Owners Insurance Co’s portfolio, making the stock its 26th largest position. Auto Owners Insurance Co’s holdings in U.S. Bancorp were worth $1,779,556,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of USB. Financial Life Planners purchased a new position in U.S. Bancorp in the third quarter valued at approximately $25,000. Clayton Financial Group LLC purchased a new stake in U.S. Bancorp during the fourth quarter worth approximately $25,000. JPL Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the third quarter worth $28,000. Binnacle Investments Inc lifted its holdings in shares of U.S. Bancorp by 77.8% during the 3rd quarter. Binnacle Investments Inc now owns 624 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 273 shares in the last quarter. Finally, Rossby Financial LCC boosted its position in U.S. Bancorp by 57.8% during the 4th quarter. Rossby Financial LCC now owns 579 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 212 shares during the period. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Performance

Shares of USB opened at $58.07 on Friday. U.S. Bancorp has a 1 year low of $42.93 and a 1 year high of $61.19. The company has a market cap of $90.07 billion, a price-to-earnings ratio of 12.17, a price-to-earnings-growth ratio of 1.01 and a beta of 0.97. 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 firm has a fifty day moving average of $55.69 and a 200-day moving average of $54.86.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.04. The business had revenue of $7.32 billion for the quarter, compared to analysts’ expectations of $7.27 billion. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.03 EPS. As a group, equities analysts anticipate that U.S. Bancorp will post 5.08 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be paid a $0.52 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. U.S. Bancorp’s dividend payout ratio (DPR) is presently 43.61%.

Analyst Upgrades and Downgrades

Several research firms have commented on USB. Weiss Ratings raised U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 4th. Jefferies Financial Group reissued a “hold” rating and set a $60.00 price target on shares of U.S. Bancorp in a research report on Thursday, April 16th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday. Stephens began coverage on shares of U.S. Bancorp in a research report on Monday, June 15th. They set an “equal weight” rating and a $63.00 target price on the stock. Finally, Morgan Stanley set a $64.00 price target on shares of U.S. Bancorp in a report on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president directly owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.21% of the company’s stock.

U.S. Bancorp Company 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.