AEGON ASSET MANAGEMENT UK Plc Cuts Stock Holdings in U.S. Bancorp (NYSE:USB)

AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of U.S. Bancorp (NYSE:USB - Free Report) by 6.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 666,763 shares of the financial services provider's stock after selling 47,584 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in U.S. Bancorp were worth $30,484,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Redwood Wealth Management Group LLC acquired a new stake in U.S. Bancorp during the second quarter worth about $25,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp during the second quarter worth about $30,000. Eagle Bay Advisors LLC grew its stake in U.S. Bancorp by 93.2% during the first quarter. Eagle Bay Advisors LLC now owns 686 shares of the financial services provider's stock worth $31,000 after buying an additional 331 shares in the last quarter. LRI Investments LLC acquired a new stake in U.S. Bancorp during the first quarter worth about $31,000. Finally, Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp during the second quarter worth about $33,000. 77.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at U.S. Bancorp

In other news, insider Jodi L. Richard sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the completion of the sale, the insider now owns 129,790 shares of the company's stock, valued at $6,363,603.70. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.23% of the company's stock.

U.S. Bancorp Trading Up 1.3 %

U.S. Bancorp stock traded up $0.65 during mid-day trading on Friday, hitting $50.21. 8,615,275 shares of the stock were exchanged, compared to its average volume of 9,218,101. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04. U.S. Bancorp has a 12 month low of $33.61 and a 12 month high of $51.76. The firm's fifty day simple moving average is $46.52 and its two-hundred day simple moving average is $43.36. The stock has a market capitalization of $78.33 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 3.02 and a beta of 1.02.

U.S. Bancorp (NYSE:USB - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.04. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.90 billion. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company's revenue was down 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 EPS. Analysts forecast that U.S. Bancorp will post 3.93 EPS for the current year.

U.S. Bancorp announced that its board has initiated a stock repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

U.S. Bancorp Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.50 per share. This is an increase from U.S. Bancorp's previous quarterly dividend of $0.49. The ex-dividend date was Monday, September 30th. This represents a $2.00 annualized dividend and a dividend yield of 3.98%. U.S. Bancorp's dividend payout ratio (DPR) is 61.16%.

Wall Street Analyst Weigh In

USB has been the subject of a number of research reports. Barclays increased their target price on shares of U.S. Bancorp from $52.00 to $57.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Oppenheimer increased their target price on shares of U.S. Bancorp from $59.00 to $64.00 and gave the stock an "outperform" rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a "buy" rating to a "hold" rating and set a $51.00 target price for the company. in a report on Thursday, October 24th. Wells Fargo & Company increased their target price on shares of U.S. Bancorp from $52.00 to $60.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Finally, Robert W. Baird set a $54.00 target price on shares of U.S. Bancorp in a report on Thursday, October 17th. Thirteen investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, U.S. Bancorp has a consensus rating of "Hold" and an average price target of $51.12.

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.