Auto Owners Insurance Co bought a new stake in U.S. Bancorp (NYSE:USB – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 450,000 shares of the financial services provider’s stock, valued at approximately $19,624,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. increased its stake in U.S. Bancorp by 2.6% in the fourth quarter. Citigroup Inc. now owns 859,332 shares of the financial services provider’s stock valued at $37,475,000 after acquiring an additional 21,560 shares during the period. Mather Group LLC. grew its stake in U.S. Bancorp by 20.3% during the third quarter. Mather Group LLC. now owns 26,579 shares of the financial services provider’s stock worth $1,072,000 after buying an additional 4,487 shares during the last quarter. Advisor Group Holdings Inc. grew its stake in U.S. Bancorp by 11.7% during the fourth quarter. Advisor Group Holdings Inc. now owns 836,343 shares of the financial services provider’s stock worth $36,489,000 after buying an additional 87,888 shares during the last quarter. DAVENPORT & Co LLC grew its stake in U.S. Bancorp by 9.4% during the fourth quarter. DAVENPORT & Co LLC now owns 145,471 shares of the financial services provider’s stock worth $6,344,000 after buying an additional 12,524 shares during the last quarter. Finally, Mutual Advisors LLC grew its stake in U.S. Bancorp by 146.1% during the fourth quarter. Mutual Advisors LLC now owns 61,885 shares of the financial services provider’s stock worth $2,699,000 after buying an additional 36,735 shares during the last quarter. Institutional investors own 71.83% of the company’s stock.
U.S. Bancorp Trading Up 1.7 %
USB opened at $32.70 on Wednesday. The firm’s fifty day moving average is $32.13 and its two-hundred day moving average is $39.90. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market cap of $50.13 billion, a PE ratio of 8.70, a price-to-earnings-growth ratio of 1.10 and a beta of 0.93. U.S. Bancorp has a twelve month low of $27.27 and a twelve month high of $49.95.
U.S. Bancorp Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Friday, June 30th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 5.87%. U.S. Bancorp’s dividend payout ratio is 51.06%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on USB shares. Morgan Stanley decreased their price objective on shares of U.S. Bancorp from $46.00 to $43.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 20th. The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $41.00 to $37.00 and set a “buy” rating on the stock in a research note on Wednesday, April 19th. Robert W. Baird upgraded shares of U.S. Bancorp from a “neutral” rating to an “outperform” rating and set a $52.00 target price on the stock in a research report on Monday, March 20th. UBS Group lowered shares of U.S. Bancorp from a “buy” rating to a “neutral” rating in a research report on Monday, April 10th. Finally, Citigroup reduced their target price on shares of U.S. Bancorp from $39.00 to $33.00 in a research report on Sunday. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.84.
Insider Transactions at U.S. Bancorp
In related news, Director Alan B. Colberg acquired 10,000 shares of the stock in a transaction dated Friday, April 21st. The stock was bought at an average price of $34.14 per share, with a total value of $341,400.00. Following the completion of the transaction, the director now directly owns 10,050 shares of the company’s stock, valued at $343,107. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider James B. Kelligrew bought 16,260 shares of the business’s stock in a transaction dated Monday, May 8th. The stock was bought at an average price of $30.59 per share, for a total transaction of $497,393.40. Following the purchase, the insider now owns 151,927 shares in the company, valued at approximately $4,647,446.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan B. Colberg bought 10,000 shares of the business’s stock in a transaction dated Friday, April 21st. The shares were bought at an average price of $34.14 per share, with a total value of $341,400.00. Following the purchase, the director now owns 10,050 shares in the company, valued at approximately $343,107. The disclosure for this purchase can be found here. Insiders purchased 76,698 shares of company stock valued at $2,446,082 over the last quarter. Corporate insiders own 0.24% of the company’s stock.
About U.S. Bancorp
U.S. Bancorp operates as a bank holding company, which offers financial services including lending and depository services, cash management, foreign exchange and trust and investment management. The firm also offers mortgage, refinance, auto, boat and RV loans, credit lines, credit card services, merchant, bank, checking and savings accounts, debit cards, online and mobile banking, ATM processing, mortgage banking, insurance, brokerage and leasing services.
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