Auto Owners Insurance Co Boosts Stock Holdings in U.S. Bancorp $USB

Auto Owners Insurance Co boosted its stake in shares of U.S. Bancorp (NYSE:USB) by 1,760.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 625,000 shares of the financial services provider’s stock after buying an additional 591,402 shares during the period. Auto Owners Insurance Co’s holdings in U.S. Bancorp were worth $28,281,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of USB. IMG Wealth Management Inc. purchased a new position in U.S. Bancorp during the second quarter valued at $25,000. Saudi Central Bank purchased a new position in shares of U.S. Bancorp in the 1st quarter worth $26,000. YANKCOM Partnership grew its stake in shares of U.S. Bancorp by 59.4% in the 1st quarter. YANKCOM Partnership now owns 698 shares of the financial services provider’s stock worth $29,000 after buying an additional 260 shares in the last quarter. Cornerstone Planning Group LLC grew its stake in shares of U.S. Bancorp by 118.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 776 shares of the financial services provider’s stock worth $31,000 after buying an additional 420 shares in the last quarter. Finally, MorganRosel Wealth Management LLC purchased a new position in shares of U.S. Bancorp in the 1st quarter worth $37,000. 77.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at U.S. Bancorp

In related news, Chairman Andrew Cecere sold 140,445 shares of U.S. Bancorp stock in a transaction dated 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 sale, the chairman owned 1,360,414 shares in the company, valued at $63,041,584.76. This trade represents a 9.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP James L. Chosy sold 26,909 shares of U.S. Bancorp stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the sale, the executive vice president owned 226,375 shares of the company’s stock, valued at $10,607,932.50. The trade was a 10.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.23% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on USB shares. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. TD Cowen lifted their price objective on shares of U.S. Bancorp from $59.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, October 20th. Wall Street Zen raised shares of U.S. Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Truist Financial lifted their price objective on shares of U.S. Bancorp from $51.00 to $52.00 and gave the stock a “hold” rating in a research note on Friday, October 17th. Finally, Evercore ISI lifted their price objective on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock an “in-line” rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, U.S. Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $54.55.

U.S. Bancorp Price Performance

U.S. Bancorp stock opened at $47.28 on Wednesday. The firm has a 50-day moving average price of $48.15 and a 200-day moving average price of $45.36. The firm has a market capitalization of $73.57 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.28 and a beta of 1.06. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.10. U.S. Bancorp has a 12-month low of $35.18 and a 12-month high of $53.98.

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

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis 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%.

U.S. Bancorp 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.