Intact Investment Management Inc. Sells 144,400 Shares of U.S. Bancorp (NYSE:USB)

Intact Investment Management Inc. lowered its stake in shares of U.S. Bancorp (NYSE:USB) by 67.6% during the fourth quarter, HoldingsChannel reports. The firm owned 69,300 shares of the financial services provider’s stock after selling 144,400 shares during the quarter. Intact Investment Management Inc.’s holdings in U.S. Bancorp were worth $2,999,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Mufg Bank LTD. increased its holdings in shares of U.S. Bancorp by 54.1% during the 3rd quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock worth $2,260,450,000 after acquiring an additional 24,000,000 shares during the last quarter. Aristotle Capital Management LLC increased its holdings in shares of U.S. Bancorp by 266.6% during the 3rd quarter. Aristotle Capital Management LLC now owns 23,467,699 shares of the financial services provider’s stock worth $775,842,000 after acquiring an additional 17,066,479 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after acquiring an additional 6,479,642 shares during the last quarter. Barclays PLC increased its holdings in shares of U.S. Bancorp by 120.4% during the 3rd quarter. Barclays PLC now owns 8,810,834 shares of the financial services provider’s stock worth $291,285,000 after acquiring an additional 4,813,976 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of U.S. Bancorp during the 3rd quarter worth approximately $79,642,000. Institutional investors own 77.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $45.00 target price (down from $52.00) on shares of U.S. Bancorp in a report on Thursday, April 18th. Jefferies Financial Group increased their target price on U.S. Bancorp from $44.00 to $46.00 and gave the stock a “hold” rating in a report on Monday, April 8th. Royal Bank of Canada increased their target price on U.S. Bancorp from $43.00 to $47.00 and gave the stock an “outperform” rating in a report on Thursday, January 18th. Piper Sandler reissued a “neutral” rating on shares of U.S. Bancorp in a report on Friday, January 26th. Finally, Oppenheimer reduced their target price on U.S. Bancorp from $55.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday, April 18th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.14.

U.S. Bancorp Trading Up 0.3 %

U.S. Bancorp stock traded up $0.13 during trading hours on Friday, hitting $41.12. The stock had a trading volume of 4,512,229 shares, compared to its average volume of 7,300,433. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 1.07. The stock has a market cap of $64.07 billion, a price-to-earnings ratio of 13.62, a P/E/G ratio of 2.13 and a beta of 1.05. U.S. Bancorp has a one year low of $27.27 and a one year high of $45.85. The business’s 50 day simple moving average is $42.34 and its 200-day simple moving average is $40.16.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, April 17th. The financial services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.89 by $0.01. The firm had revenue of $6.72 billion during the quarter, compared to the consensus estimate of $6.71 billion. U.S. Bancorp had a return on equity of 13.93% and a net margin of 12.13%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period last year, the company earned $1.16 earnings per share. On average, equities analysts predict that U.S. Bancorp will post 3.86 EPS for the current fiscal year.

U.S. Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 29th were given a $0.49 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $1.96 annualized dividend and a yield of 4.77%. U.S. Bancorp’s dividend payout ratio is presently 64.90%.

Insider Buying and Selling at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now owns 144,236 shares of the company’s stock, valued at $6,255,515.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP James L. Chosy sold 21,582 shares of the stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $41.47, for a total value of $895,005.54. Following the completion of the sale, the executive vice president now owns 164,880 shares of the company’s stock, valued at $6,837,573.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Terrance R. Dolan sold 26,583 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $43.37, for a total value of $1,152,904.71. Following the completion of the sale, the insider now directly owns 144,236 shares of the company’s stock, valued at approximately $6,255,515.32. The disclosure for this sale can be found here. Corporate insiders own 0.23% of the company’s stock.

About U.S. Bancorp

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.