Legal & General Group Plc Sells 2,468,761 Shares of U.S. Bancorp (NYSE:USB)

Legal & General Group Plc lowered its stake in shares of U.S. Bancorp (NYSE:USB - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,375,308 shares of the financial services provider's stock after selling 2,468,761 shares during the quarter. Legal & General Group Plc owned approximately 0.60% of U.S. Bancorp worth $448,421,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Invesco Ltd. grew its stake in shares of U.S. Bancorp by 48.1% during the fourth quarter. Invesco Ltd. now owns 16,787,513 shares of the financial services provider's stock valued at $802,947,000 after purchasing an additional 5,449,949 shares during the last quarter. Bank of Montreal Can lifted its holdings in U.S. Bancorp by 29.4% during the 4th quarter. Bank of Montreal Can now owns 4,326,254 shares of the financial services provider's stock worth $206,925,000 after buying an additional 983,795 shares in the last quarter. Cerity Partners LLC boosted its position in U.S. Bancorp by 4.0% in the 4th quarter. Cerity Partners LLC now owns 725,231 shares of the financial services provider's stock valued at $34,302,000 after buying an additional 28,172 shares during the last quarter. FMR LLC increased its stake in shares of U.S. Bancorp by 5.0% in the 4th quarter. FMR LLC now owns 67,125,746 shares of the financial services provider's stock valued at $3,210,624,000 after buying an additional 3,211,815 shares during the period. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of U.S. Bancorp during the fourth quarter worth $333,000. Institutional investors and hedge funds own 77.60% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages recently commented on USB. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Wolfe Research upgraded shares of U.S. Bancorp from a "peer perform" rating to an "outperform" rating and set a $49.00 price target for the company in a research report on Thursday, April 3rd. Piper Sandler upgraded shares of U.S. Bancorp from a "neutral" rating to an "overweight" rating and set a $58.00 price objective on the stock in a report on Monday, January 13th. Raymond James raised shares of U.S. Bancorp from a "market perform" rating to an "outperform" rating and set a $57.00 target price for the company in a report on Thursday, December 19th. Finally, The Goldman Sachs Group cut their price target on U.S. Bancorp from $51.00 to $45.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $52.52.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 209,482 shares in the company, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP James L. Chosy sold 21,451 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $47.65, for a total value of $1,022,140.15. Following the sale, the executive vice president now owns 198,127 shares in the company, valued at $9,440,751.55. The trade was a 9.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 in the last ninety days. 0.23% of the stock is currently owned by corporate insiders.

U.S. Bancorp Stock Up 1.6 %

USB traded up $0.60 during trading on Friday, hitting $37.85. The company had a trading volume of 18,550,879 shares, compared to its average volume of 8,990,550. The company has a market capitalization of $58.97 billion, a PE ratio of 9.99, a PEG ratio of 1.73 and a beta of 0.91. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 1.11. U.S. Bancorp has a one year low of $35.18 and a one year high of $53.98. The firm's 50-day moving average price is $43.46 and its 200 day moving average price is $47.04.

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

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.28%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp's dividend payout ratio (DPR) is currently 52.77%.

U.S. Bancorp Company 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.