Advisors Management Group Inc. ADV Trims Stock Holdings in U.S. Bancorp (NYSE:USB)

Advisors Management Group Inc. ADV trimmed its holdings in U.S. Bancorp (NYSE:USB) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,933 shares of the financial services provider’s stock after selling 350 shares during the quarter. Advisors Management Group Inc. ADV’s holdings in U.S. Bancorp were worth $355,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of USB. Focus Financial Network Inc. ADV purchased a new position in U.S. Bancorp during the 4th quarter worth $5,440,000. Morningstar Investment Management LLC increased its holdings in U.S. Bancorp by 760.8% during the 4th quarter. Morningstar Investment Management LLC now owns 83,833 shares of the financial services provider’s stock worth $3,628,000 after purchasing an additional 74,094 shares during the period. Brookstone Capital Management increased its holdings in U.S. Bancorp by 2,056.5% during the 1st quarter. Brookstone Capital Management now owns 218,668 shares of the financial services provider’s stock worth $9,774,000 after purchasing an additional 208,528 shares during the period. Artisan Partners Limited Partnership increased its holdings in shares of U.S. Bancorp by 2.4% in the 4th quarter. Artisan Partners Limited Partnership now owns 3,188,254 shares of the financial services provider’s stock valued at $137,988,000 after acquiring an additional 76,053 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in shares of U.S. Bancorp in the 2nd quarter valued at $20,188,000. 77.60% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Aleem Gillani acquired 10,000 shares of the company’s stock in a transaction dated Thursday, July 18th. The stock was acquired at an average cost of $44.99 per share, with a total value of $449,900.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $449,900. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on U.S. Bancorp from $48.00 to $52.00 and gave the company an “overweight” rating in a report on Thursday, July 18th. Citigroup raised their price objective on U.S. Bancorp from $45.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Evercore ISI raised their price objective on U.S. Bancorp from $45.00 to $48.00 and gave the stock an “in-line” rating in a research report on Tuesday, June 25th. DA Davidson raised their price objective on U.S. Bancorp from $44.00 to $49.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Morgan Stanley lifted their price target on U.S. Bancorp from $47.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $48.23.

U.S. Bancorp Trading Up 1.5 %

U.S. Bancorp stock traded up $0.70 during trading on Friday, reaching $47.23. 14,262,639 shares of the company were exchanged, compared to its average volume of 8,381,796. U.S. Bancorp has a 52-week low of $30.47 and a 52-week high of $47.31. The company has a market capitalization of $73.70 billion, a P/E ratio of 15.64, a PEG ratio of 4.20 and a beta of 1.04. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.81 and a quick ratio of 0.80. The stock’s 50 day simple moving average is $42.81 and its two-hundred day simple moving average is $41.90.

U.S. Bancorp (NYSE:USB) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.04. The company had revenue of $6.87 billion during the quarter, compared to analysts’ expectations of $6.81 billion. U.S. Bancorp had a return on equity of 13.34% and a net margin of 12.55%. The firm’s quarterly revenue was down 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.12 earnings per share. On average, equities research analysts expect that U.S. Bancorp will post 3.9 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.49 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 4.15%. U.S. Bancorp’s payout ratio is presently 64.90%.

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.