Munich Reinsurance Co Stock Corp in Munich trimmed its holdings in shares of U.S. Bancorp (NYSE:USB – Free Report) by 64.7% during the second quarter, HoldingsChannel reports. The fund owned 21,703 shares of the financial services provider’s stock after selling 39,829 shares during the quarter. Munich Reinsurance Co Stock Corp in Munich’s holdings in U.S. Bancorp were worth $1,311,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC lifted its holdings in shares of U.S. Bancorp by 323.0% during the fourth quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock worth $2,309,000 after purchasing an additional 36,863 shares during the period. Empowered Funds LLC increased its holdings in U.S. Bancorp by 2.1% in the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock valued at $1,453,000 after purchasing an additional 714 shares during the period. Intech Investment Management LLC increased its holdings in U.S. Bancorp by 18.9% in the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock valued at $1,658,000 after purchasing an additional 6,252 shares during the period. Sivia Capital Partners LLC bought a new position in U.S. Bancorp during the 2nd quarter worth $425,000. Finally, Nebula Research & Development LLC bought a new position in U.S. Bancorp during the 2nd quarter worth $701,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at U.S. Bancorp
In other U.S. Bancorp news, insider Stephen L. Philipson sold 36,906 shares of the stock in a transaction that occurred on Monday, July 20th. The stock was sold at an average price of $63.08, for a total transaction of $2,328,030.48. Following the transaction, the insider directly owned 74,969 shares in the company, valued at approximately $4,729,044.52. This represents a 32.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gunjan Kedia sold 27,267 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $62.37, for a total transaction of $1,700,642.79. Following the sale, the chief executive officer directly owned 426,262 shares of the company’s stock, valued at approximately $26,585,960.94. This trade represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. 0.21% of the stock is currently owned by insiders.
Analyst Ratings Changes
Read Our Latest Analysis on U.S. Bancorp
U.S. Bancorp Stock Performance
Shares of U.S. Bancorp stock opened at $63.36 on Friday. The business has a 50-day moving average price of $63.07 and a two-hundred day moving average price of $57.87. U.S. Bancorp has a 1-year low of $45.02 and a 1-year high of $66.07. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.96. The company has a market cap of $98.72 billion, a P/E ratio of 12.65, a PEG ratio of 1.13 and a beta of 0.95.
U.S. Bancorp (NYSE:USB – Get Free Report) last announced its quarterly earnings data on Thursday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.07. U.S. Bancorp had a return on equity of 13.69% and a net margin of 18.49%.The company had revenue of $7.69 billion for the quarter, compared to the consensus estimate of $7.58 billion. During the same period in the previous year, the business earned $1.11 EPS. As a group, analysts anticipate that U.S. Bancorp will post 5.22 EPS for the current year.
U.S. Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date was Tuesday, June 30th. U.S. Bancorp’s payout ratio is presently 41.52%.
U.S. Bancorp 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.
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