Wellington Management Group LLP Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Wellington Management Group LLP lowered its position in U.S. Bancorp (NYSE:USB - Free Report) by 65.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 133,705 shares of the financial services provider's stock after selling 253,085 shares during the period. Wellington Management Group LLP's holdings in U.S. Bancorp were worth $6,114,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Worldquant Millennium Advisors LLC boosted its position in shares of U.S. Bancorp by 45.1% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 553,211 shares of the financial services provider's stock worth $25,298,000 after purchasing an additional 171,857 shares in the last quarter. State Street Corp grew its holdings in shares of U.S. Bancorp by 1.2% in the 3rd quarter. State Street Corp now owns 67,282,970 shares of the financial services provider's stock worth $3,110,115,000 after acquiring an additional 819,805 shares during the period. Stevens Capital Management LP purchased a new position in U.S. Bancorp in the 3rd quarter valued at approximately $469,000. Quantinno Capital Management LP raised its holdings in U.S. Bancorp by 24.8% during the third quarter. Quantinno Capital Management LP now owns 94,867 shares of the financial services provider's stock worth $4,338,000 after purchasing an additional 18,842 shares during the last quarter. Finally, Royal London Asset Management Ltd. boosted its position in U.S. Bancorp by 1.7% during the third quarter. Royal London Asset Management Ltd. now owns 1,242,645 shares of the financial services provider's stock worth $56,826,000 after purchasing an additional 20,374 shares in the last quarter. Institutional investors and hedge funds own 77.60% of the company's stock.

Insider Buying and Selling

In other U.S. Bancorp news, insider Jodi L. Richard sold 25,000 shares of the stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $49.03, for a total value 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 16.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.23% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

USB has been the subject of a number of research analyst reports. 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 research report on Tuesday, December 10th. The Goldman Sachs Group cut their target price on shares of U.S. Bancorp from $48.00 to $46.00 and set a "neutral" rating for the company in a research report on Wednesday, September 11th. Wells Fargo & Company increased their price target on shares of U.S. Bancorp from $60.00 to $62.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. Morgan Stanley upgraded U.S. Bancorp from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $54.00 to $57.00 in a research report on Monday, September 30th. Finally, Oppenheimer raised their price target on U.S. Bancorp from $59.00 to $64.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $53.50.

U.S. Bancorp Trading Down 2.7 %

Shares of USB traded down $1.40 during trading hours on Tuesday, hitting $49.96. The stock had a trading volume of 6,774,140 shares, compared to its average volume of 8,216,443. The company's fifty day simple moving average is $49.93 and its 200 day simple moving average is $45.35. U.S. Bancorp has a 12-month low of $37.81 and a 12-month high of $53.98. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.81. The firm has a market cap of $77.94 billion, a P/E ratio of 15.36, a P/E/G ratio of 3.03 and a beta of 1.03.

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

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

U.S. Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 4.00%. U.S. Bancorp's payout ratio is 61.16%.

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.