Envestnet Asset Management Inc. Sells 37,036 Shares of U.S. Bancorp (NYSE:USB)

Envestnet Asset Management Inc. lowered its position in U.S. Bancorp (NYSE:USB) by 0.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,097,974 shares of the financial services provider’s stock after selling 37,036 shares during the period. Envestnet Asset Management Inc. owned 0.52% of U.S. Bancorp worth $387,326,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Winch Advisory Services LLC lifted its position in U.S. Bancorp by 1,088.9% during the fourth quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock valued at $26,000 after buying an additional 490 shares during the period. J.Safra Asset Management Corp bought a new position in shares of U.S. Bancorp in the 4th quarter worth about $26,000. FPC Investment Advisory Inc. purchased a new position in U.S. Bancorp during the 4th quarter valued at about $28,000. Global Wealth Strategies & Associates boosted its stake in U.S. Bancorp by 70.8% during the fourth quarter. Global Wealth Strategies & Associates now owns 603 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 250 shares in the last quarter. Finally, Stonebridge Financial Group LLC purchased a new stake in U.S. Bancorp in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 5.2 %

USB stock opened at $36.78 on Friday. The business’s 50-day moving average is $44.92 and its two-hundred day moving average is $47.43. The company has a market cap of $57.30 billion, a price-to-earnings ratio of 9.70, a P/E/G ratio of 1.73 and a beta of 0.91. U.S. Bancorp has a fifty-two week low of $35.74 and a fifty-two week high of $53.98. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.80 and a current ratio of 0.81.

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

U.S. Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 5.44%. The ex-dividend date of this dividend is Monday, March 31st. U.S. Bancorp’s payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on USB shares. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $43.50 price target (down from $51.00) on shares of U.S. Bancorp in a research report on Thursday. Citigroup reduced their price target on U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a report on Monday, March 24th. Wells Fargo & Company lowered their price target on U.S. Bancorp from $62.00 to $56.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Piper Sandler raised 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 research report on Monday, January 13th. Finally, Oppenheimer lifted their target price on shares of U.S. Bancorp from $62.00 to $63.00 and gave the stock an “outperform” rating in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, U.S. Bancorp has an average rating of “Moderate Buy” and an average price target of $52.89.

Insider Transactions at U.S. Bancorp

In other news, insider Terrance R. Dolan sold 66,317 shares of U.S. Bancorp stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $46.96, for a total transaction of $3,114,246.32. Following the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at $9,837,274.72. The trade was a 24.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Andrew Cecere sold 102,044 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $47.25, for a total transaction of $4,821,579.00. Following the completion of the sale, the chief executive officer now directly owns 1,230,316 shares of the company’s stock, valued at $58,132,431. This represents a 7.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock worth $10,385,665 in the last three months. Corporate insiders own 0.23% of the company’s stock.

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.