Manning & Napier Advisors LLC Has $9.46 Million Stake in U.S. Bancorp $USB

Manning & Napier Advisors LLC trimmed its stake in shares of U.S. Bancorp (NYSE:USB) by 9.8% during the fourth quarter, HoldingsChannel reports. The fund owned 174,248 shares of the financial services provider’s stock after selling 18,954 shares during the period. Manning & Napier Advisors LLC’s holdings in U.S. Bancorp were worth $9,463,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its position in U.S. Bancorp by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 146,376,783 shares of the financial services provider’s stock valued at $7,810,665,000 after buying an additional 1,828,404 shares during the last quarter. State Street Corp raised its position in U.S. Bancorp by 0.9% in the 3rd quarter. State Street Corp now owns 69,179,530 shares of the financial services provider’s stock valued at $3,378,808,000 after buying an additional 648,943 shares during the last quarter. Davis Selected Advisers raised its position in U.S. Bancorp by 13.4% in the 4th quarter. Davis Selected Advisers now owns 22,041,759 shares of the financial services provider’s stock valued at $1,176,148,000 after buying an additional 2,610,197 shares during the last quarter. Grantham Mayo Van Otterloo & Co. LLC raised its position in U.S. Bancorp by 7.2% in the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 17,758,947 shares of the financial services provider’s stock valued at $858,290,000 after buying an additional 1,189,525 shares during the last quarter. Finally, Northern Trust Corp raised its position in U.S. Bancorp by 1.1% in the 3rd quarter. Northern Trust Corp now owns 16,438,774 shares of the financial services provider’s stock valued at $794,486,000 after buying an additional 172,645 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors and hedge funds.

U.S. Bancorp Stock Up 0.4%

Shares of USB opened at $55.52 on Friday. U.S. Bancorp has a 52 week low of $41.81 and a 52 week high of $61.19. The firm has a market cap of $86.18 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 1.00 and a beta of 1.00. The firm’s 50-day simple moving average is $54.05 and its 200 day simple moving average is $53.16. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.81 and a current ratio of 0.81.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings results on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. U.S. Bancorp had a net margin of 18.01% and a return on equity of 13.55%. The business had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. During the same quarter in the prior year, the business earned $1.03 EPS. U.S. Bancorp’s quarterly revenue was up 4.7% on a year-over-year basis. On average, analysts forecast that U.S. Bancorp will post 5.09 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were paid a $0.52 dividend. The ex-dividend date was Tuesday, March 31st. This represents a $2.08 dividend on an annualized basis and a yield of 3.7%. U.S. Bancorp’s dividend payout ratio is 43.61%.

Insiders Place Their Bets

In other news, insider Jodi L. Richard sold 40,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $57.00, for a total value of $2,280,000.00. Following the completion of the sale, the insider owned 207,251 shares of the company’s stock, valued at approximately $11,813,307. The trade was a 16.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Venkatachari Dilip sold 34,522 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the completion of the transaction, the executive vice president owned 51,292 shares in the company, valued at $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on USB. Evercore lifted their target price on U.S. Bancorp from $60.00 to $65.00 and gave the company an “in-line” rating in a research report on Thursday, February 5th. Barclays lifted their price target on shares of U.S. Bancorp from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, April 17th. Royal Bank Of Canada lifted their price target on shares of U.S. Bancorp from $59.00 to $61.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. TD Cowen lifted their price target on shares of U.S. Bancorp from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, UBS Group reiterated a “neutral” rating and issued a $60.00 price target on shares of U.S. Bancorp in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $61.20.

U.S. Bancorp Company 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.