Principle Wealth Partners LLC Has $1.43 Million Stake in U.S. Bancorp $USB

Principle Wealth Partners LLC trimmed its position in shares of U.S. Bancorp (NYSE:USB) by 14.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,619 shares of the financial services provider’s stock after selling 5,250 shares during the period. Principle Wealth Partners LLC’s holdings in U.S. Bancorp were worth $1,431,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of USB. Nuveen LLC acquired a new stake in U.S. Bancorp during the first quarter worth about $138,183,000. Vanguard Group Inc. lifted its holdings in shares of U.S. Bancorp by 1.7% in the first quarter. Vanguard Group Inc. now owns 141,230,279 shares of the financial services provider’s stock worth $5,962,742,000 after acquiring an additional 2,393,383 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of U.S. Bancorp by 17.4% in the first quarter. American Century Companies Inc. now owns 10,070,174 shares of the financial services provider’s stock worth $425,163,000 after acquiring an additional 1,493,318 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of U.S. Bancorp by 192.0% in the second quarter. Nordea Investment Management AB now owns 1,994,993 shares of the financial services provider’s stock worth $90,752,000 after acquiring an additional 1,311,746 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of U.S. Bancorp by 10.5% in the first quarter. Goldman Sachs Group Inc. now owns 11,012,635 shares of the financial services provider’s stock worth $464,953,000 after acquiring an additional 1,045,509 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Trading Down 0.7%

Shares of NYSE USB opened at $47.30 on Thursday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $53.98. The firm has a 50 day moving average price of $48.03 and a two-hundred day moving average price of $44.97. The stock has a market cap of $73.61 billion, a P/E ratio of 10.82, a price-to-earnings-growth ratio of 1.27 and a beta of 1.06.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, October 16th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The firm had revenue of $7.34 billion during the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the prior year, the company posted $1.03 EPS. The company’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts forecast that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 4.4%. The ex-dividend date was Tuesday, September 30th. This is a positive change from U.S. Bancorp’s previous quarterly dividend of $0.50. U.S. Bancorp’s dividend payout ratio (DPR) is 47.60%.

Insider Activity at U.S. Bancorp

In other U.S. Bancorp news, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the transaction, the chairman owned 1,360,414 shares in the company, valued at approximately $63,041,584.76. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James L. Chosy sold 26,909 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president owned 226,375 shares of the company’s stock, valued at approximately $10,607,932.50. The trade was a 10.62% decrease in their position. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on USB shares. TD Cowen increased their target price on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a report on Monday. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a report on Friday, October 17th. Citigroup increased their target price on shares of U.S. Bancorp from $65.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, October 17th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, Raymond James Financial upgraded shares of U.S. Bancorp from an “outperform” rating to a “strong-buy” rating and raised their price objective for the company from $51.00 to $57.00 in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and an average price target of $54.55.

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.