Securian Asset Management Inc Boosts Stock Holdings in U.S. Bancorp (NYSE:USB)

Securian Asset Management Inc boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 0.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,607 shares of the financial services provider’s stock after acquiring an additional 328 shares during the period. Securian Asset Management Inc’s holdings in U.S. Bancorp were worth $8,259,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Northern Trust Corp grew its stake in shares of U.S. Bancorp by 0.9% in the 1st quarter. Northern Trust Corp now owns 20,320,154 shares of the financial services provider’s stock worth $979,228,000 after buying an additional 190,324 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of U.S. Bancorp by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 18,322,754 shares of the financial services provider’s stock worth $835,766,000 after buying an additional 1,285,265 shares in the last quarter. Daily Journal Corp grew its stake in shares of U.S. Bancorp by 9,900.0% in the 2nd quarter. Daily Journal Corp now owns 14,000,000 shares of the financial services provider’s stock worth $7,336,000 after buying an additional 13,860,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of U.S. Bancorp by 2.4% in the 2nd quarter. Janus Henderson Group PLC now owns 13,382,530 shares of the financial services provider’s stock worth $701,230,000 after buying an additional 310,818 shares in the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of U.S. Bancorp by 1.8% in the 1st quarter. Clearbridge Investments LLC now owns 11,207,103 shares of the financial services provider’s stock worth $540,070,000 after buying an additional 195,579 shares in the last quarter. 75.50% of the stock is owned by institutional investors.

In related news, EVP Mark G. Runkel sold 10,986 shares of U.S. Bancorp stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $57.32, for a total transaction of $629,717.52. Following the completion of the transaction, the executive vice president now directly owns 45,213 shares of the company’s stock, valued at approximately $2,591,609.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Vice Chairman Shailesh M. Kotwal sold 20,000 shares of U.S. Bancorp stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $57.33, for a total transaction of $1,146,600.00. Following the transaction, the insider now directly owns 65,959 shares of the company’s stock, valued at $3,781,429.47. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,414 shares of company stock valued at $2,297,215. 0.24% of the stock is owned by corporate insiders.

A number of equities analysts have commented on USB shares. Macquarie cut shares of U.S. Bancorp from an “outperform” rating to a “neutral” rating and set a $59.00 price objective for the company. in a research note on Thursday, August 1st. Deutsche Bank set a $59.00 price objective on shares of U.S. Bancorp and gave the stock a “hold” rating in a research note on Friday, July 26th. Bank of America raised shares of U.S. Bancorp from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $49.00 to $55.00 in a research note on Thursday, July 18th. Morgan Stanley lifted their price objective on shares of U.S. Bancorp from $55.00 to $56.00 and gave the stock an “underweight” rating in a research note on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised shares of U.S. Bancorp from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $52.50 to $57.00 in a research note on Wednesday, July 31st. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. U.S. Bancorp presently has a consensus rating of “Hold” and an average price target of $56.92.

Shares of USB stock traded down $0.02 during trading hours on Wednesday, reaching $51.61. 82,517 shares of the stock were exchanged, compared to its average volume of 6,251,457. U.S. Bancorp has a 12-month low of $43.14 and a 12-month high of $57.81. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.86. The company’s 50-day moving average price is $54.09 and its 200-day moving average price is $51.96. The firm has a market capitalization of $82.38 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 1.73 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. U.S. Bancorp had a net margin of 26.70% and a return on equity of 15.45%. The firm had revenue of $5.58 billion during the quarter, compared to analysts’ expectations of $5.73 billion. During the same period in the previous year, the company earned $1.02 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, sell-side analysts expect that U.S. Bancorp will post 4.31 EPS for the current year.

U.S. Bancorp announced that its Board of Directors has authorized a share repurchase plan on Thursday, June 27th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

About U.S. Bancorp

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. It operates in five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

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Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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