Principal Financial Group Inc. Sells 13,370 Shares of U.S. Bancorp (NYSE:USB)

Principal Financial Group Inc. lowered its position in U.S. Bancorp (NYSE:USB - Free Report) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,750,446 shares of the financial services provider's stock after selling 13,370 shares during the period. Principal Financial Group Inc. owned 0.11% of U.S. Bancorp worth $83,724,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of USB. Winch Advisory Services LLC raised its stake in shares of U.S. Bancorp by 1,088.9% in the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider's stock worth $26,000 after acquiring an additional 490 shares during the last quarter. Global Wealth Strategies & Associates raised its position in U.S. Bancorp by 70.8% in the 4th quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider's stock worth $29,000 after purchasing an additional 250 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in U.S. Bancorp in the 4th quarter valued at $30,000. Frazier Financial Advisors LLC increased its stake in shares of U.S. Bancorp by 222.7% in the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider's stock valued at $29,000 after buying an additional 441 shares during the period. Finally, Global Trust Asset Management LLC bought a new stake in shares of U.S. Bancorp during the fourth quarter worth $33,000. 77.60% of the stock is owned by institutional investors and hedge funds.

U.S. Bancorp Stock Down 1.9 %

Shares of NYSE:USB traded down $0.88 during midday trading on Friday, reaching $45.88. 4,431,579 shares of the company were exchanged, compared to its average volume of 8,999,735. The firm has a market cap of $71.57 billion, a PE ratio of 12.11, a P/E/G ratio of 1.75 and a beta of 1.04. 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 fifty-two week low of $37.81 and a fifty-two week high of $53.98. The stock has a fifty day simple moving average of $48.29 and a two-hundred day simple moving average of $47.61.

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

U.S. Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.36%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp's payout ratio is presently 52.77%.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were 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. The trade was a 24.05 % 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, insider Jodi L. Richard sold 30,000 shares of the firm's stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the transaction, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. This represents a 23.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on USB. Compass Point raised their price target on U.S. Bancorp from $49.00 to $60.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Truist Financial initiated coverage on shares of U.S. Bancorp in a research report on Tuesday, January 7th. They set a "hold" rating and a $54.00 target price on the stock. Barclays lifted their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, January 6th. Morgan Stanley reduced their price objective on shares of U.S. Bancorp from $60.00 to $59.00 and set an "overweight" rating on the stock in a research note on Friday, January 17th. Finally, Evercore ISI upped their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an "in-line" rating in a research report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $54.21.

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.