Envestnet Asset Management Inc. Has $387.33 Million Stake in U.S. Bancorp (NYSE:USB)

Envestnet Asset Management Inc. trimmed its holdings in shares of U.S. Bancorp (NYSE:USB - Free Report) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,097,974 shares of the financial services provider's stock after selling 37,036 shares during the period. Envestnet Asset Management Inc. owned approximately 0.52% of U.S. Bancorp worth $387,326,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings in U.S. Bancorp by 229.5% during the 3rd quarter. Janus Henderson Group PLC now owns 845,686 shares of the financial services provider's stock worth $38,671,000 after buying an additional 588,999 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of U.S. Bancorp by 267.0% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 19,036 shares of the financial services provider's stock valued at $871,000 after purchasing an additional 13,849 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of U.S. Bancorp by 5.9% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 31,917 shares of the financial services provider's stock valued at $1,460,000 after purchasing an additional 1,792 shares during the period. IHT Wealth Management LLC increased its stake in U.S. Bancorp by 6.4% in the 3rd quarter. IHT Wealth Management LLC now owns 11,635 shares of the financial services provider's stock valued at $529,000 after buying an additional 697 shares during the period. Finally, Morse Asset Management Inc acquired a new stake in shares of U.S. Bancorp during the 3rd quarter valued at $229,000. 77.60% of the stock is currently owned by institutional investors.

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Insider Activity

In related news, CEO Andrew Cecere sold 102,044 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the transaction, the chief executive officer now directly owns 1,230,316 shares in the company, valued at $58,132,431. This represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jodi L. Richard sold 30,000 shares of the company's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares of the company's stock, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

U.S. Bancorp Stock Performance

U.S. Bancorp stock traded down $0.08 during midday trading on Friday, reaching $37.18. 6,614,450 shares of the company's stock were exchanged, compared to its average volume of 8,929,844. U.S. Bancorp has a 52 week low of $35.18 and a 52 week high of $53.98. The stock's 50-day simple moving average is $43.65 and its 200 day simple moving average is $47.07. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81. The firm has a market cap of $57.92 billion, a price-to-earnings ratio of 9.78, a P/E/G ratio of 1.73 and a beta of 0.91.

U.S. Bancorp (NYSE:USB - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.06 by $0.01. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The company had revenue of $7.01 billion during the quarter, compared to analysts' expectations of $7 billion. During the same quarter in the previous year, the company posted $0.99 earnings per share. The business's revenue was up 3.7% on a year-over-year basis. On average, analysts expect that U.S. Bancorp will post 4.38 earnings per share for the current fiscal year.

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 5.38%. U.S. Bancorp's dividend payout ratio is presently 52.77%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America cut their price objective on U.S. Bancorp from $50.00 to $49.00 and set a "buy" rating for the company in a report on Monday, March 17th. Morgan Stanley lowered their price target on U.S. Bancorp from $55.00 to $51.00 and set an "overweight" rating for the company in a research note on Monday. Citigroup dropped their price objective on U.S. Bancorp from $65.00 to $55.00 and set a "buy" rating on the stock in a report on Monday, March 24th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $43.50 price objective (down from $51.00) on shares of U.S. Bancorp in a research note on Thursday, April 3rd. Finally, Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price objective for the company in a research note on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.52.

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.