AIA Group Ltd Cuts Stake in U.S. Bancorp (NYSE:USB)

AIA Group Ltd trimmed its stake in U.S. Bancorp (NYSE:USB) by 33.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,833 shares of the financial services provider’s stock after selling 4,910 shares during the quarter. AIA Group Ltd’s holdings in U.S. Bancorp were worth $470,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. J.Safra Asset Management Corp purchased a new stake in shares of U.S. Bancorp during the 4th quarter valued at $26,000. Winch Advisory Services LLC boosted its holdings in U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 490 shares during the last quarter. FPC Investment Advisory Inc. purchased a new stake in U.S. Bancorp during the fourth quarter valued at about $28,000. Global Wealth Strategies & Associates increased its stake in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in shares of U.S. Bancorp in the 4th quarter worth about $30,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.0 %

Shares of U.S. Bancorp stock opened at $42.24 on Tuesday. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. The business has a 50-day moving average price of $45.62 and a 200 day moving average price of $47.58. U.S. Bancorp has a fifty-two week low of $37.81 and a fifty-two week high of $53.98. The firm has a market cap of $65.81 billion, a P/E ratio of 11.15, a P/E/G ratio of 1.73 and a beta of 1.02.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business had revenue of $7.01 billion for the quarter, compared to analyst estimates of $7 billion. During the same period in the prior year, the company posted $0.99 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, sell-side analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.73%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio (DPR) is presently 52.77%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Morgan Stanley reduced their price target on shares of U.S. Bancorp from $60.00 to $59.00 and set an “overweight” rating on the stock in a research report on Friday, January 17th. Barclays lifted their target price on shares of U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, January 6th. Raymond James upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price target for the company in a report on Thursday, December 19th. DA Davidson upgraded U.S. Bancorp from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $58.00 to $60.00 in a research note on Thursday, January 2nd. Finally, Truist Financial began coverage on U.S. Bancorp in a report on Tuesday, January 7th. They set a “hold” rating and a $54.00 target price on the stock. Ten research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.21.

Insider Activity at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now owns 1,230,316 shares of the company’s stock, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total transaction of $1,022,140.15. Following the transaction, the executive vice president now owns 198,127 shares of the company’s stock, valued at $9,440,751.55. This represents a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 219,812 shares of company stock valued at $10,385,665 in the last quarter. Insiders own 0.23% of the company’s stock.

U.S. Bancorp Company Profile

U.S. Bancorp, a financial services holding company, provides various financial services to individuals, businesses, institutional organizations, governmental entities, and other financial institutions in the United States. It operates through Wealth, Corporate, Commercial and Institutional Banking; Consumer and Business Banking; Payment Services; and Treasury and Corporate Support segments.