Prudential Financial Inc. Purchases 1,250,081 Shares of U.S. Bancorp (NYSE:USB)

Prudential Financial Inc. lifted its position in shares of U.S. Bancorp (NYSE:USB) by 82.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,772,635 shares of the financial services provider’s stock after purchasing an additional 1,250,081 shares during the quarter. Prudential Financial Inc. owned approximately 0.18% of U.S. Bancorp worth $132,615,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of U.S. Bancorp by 4.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 287,348 shares of the financial services provider’s stock valued at $13,140,000 after purchasing an additional 13,165 shares during the period. Intech Investment Management LLC lifted its holdings in shares of U.S. Bancorp by 63.1% during the third quarter. Intech Investment Management LLC now owns 15,284 shares of the financial services provider’s stock valued at $699,000 after acquiring an additional 5,911 shares during the period. Meridian Wealth Management LLC acquired a new stake in shares of U.S. Bancorp in the 3rd quarter valued at $443,000. Cerity Partners LLC grew its holdings in shares of U.S. Bancorp by 17.0% in the 3rd quarter. Cerity Partners LLC now owns 697,059 shares of the financial services provider’s stock worth $31,881,000 after purchasing an additional 101,264 shares during the last quarter. Finally, Kingsview Wealth Management LLC increased its position in shares of U.S. Bancorp by 3.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 82,499 shares of the financial services provider’s stock worth $3,773,000 after purchasing an additional 3,013 shares in the last quarter. 77.60% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Terrance R. Dolan sold 66,317 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the sale, the insider now owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This represents a 24.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Andrew Cecere sold 102,044 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the transaction, the chief executive officer now owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by insiders.

U.S. Bancorp Stock Up 0.4 %

U.S. Bancorp stock opened at $42.77 on Monday. U.S. Bancorp has a twelve month low of $37.81 and a twelve month high of $53.98. 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 company has a 50 day moving average of $46.31 and a 200-day moving average of $47.65. The stock has a market capitalization of $66.63 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.73 and a beta of 1.02.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s dividend payout ratio is presently 52.77%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on USB. Bank of America cut their target price on shares of U.S. Bancorp from $50.00 to $49.00 and set a “buy” rating for the company in a research note on Monday, March 17th. The Goldman Sachs Group decreased their price objective on shares of U.S. Bancorp from $51.00 to $45.00 and set a “neutral” rating on the stock in a report on Wednesday, March 19th. Compass Point upped their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Piper Sandler raised shares of U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 price target for the company in a report on Monday, January 13th. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 price objective on the stock in a report on Thursday, December 19th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, U.S. Bancorp has a consensus rating of “Moderate Buy” and an average target price of $53.93.

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.