U.S. Bancorp (NYSE:USB) Position Reduced by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in shares of U.S. Bancorp (NYSE:USB) by 13.8% during the fourth quarter, Holdings Channel reports. The fund owned 373,329 shares of the financial services provider’s stock after selling 59,716 shares during the quarter. Corebridge Financial Inc.’s holdings in U.S. Bancorp were worth $17,856,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in USB. Brooklyn Investment Group lifted its holdings in shares of U.S. Bancorp by 4.4% in the third quarter. Brooklyn Investment Group now owns 4,792 shares of the financial services provider’s stock valued at $219,000 after purchasing an additional 201 shares in the last quarter. Capital Performance Advisors LLP lifted its stake in U.S. Bancorp by 2.6% in the 4th quarter. Capital Performance Advisors LLP now owns 8,188 shares of the financial services provider’s stock worth $392,000 after acquiring an additional 210 shares in the last quarter. HCR Wealth Advisors lifted its stake in U.S. Bancorp by 1.1% in the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after acquiring an additional 211 shares in the last quarter. Priebe Wealth Holdings LLC boosted its position in U.S. Bancorp by 4.4% during the 4th quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after acquiring an additional 215 shares during the period. Finally, Essex Savings Bank grew its stake in U.S. Bancorp by 1.8% during the 4th quarter. Essex Savings Bank now owns 12,350 shares of the financial services provider’s stock valued at $591,000 after acquiring an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 77.60% of the company’s stock.

Insider Transactions at U.S. Bancorp

In other news, CEO Andrew Cecere sold 102,044 shares of the business’s 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 sale, the chief executive officer now directly owns 1,230,316 shares in the company, valued at approximately $58,132,431. The trade was a 7.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Terrance R. Dolan sold 66,317 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $46.96, for a total value of $3,114,246.32. Following the completion of the transaction, the insider now directly owns 209,482 shares of the company’s stock, valued at approximately $9,837,274.72. This trade represents a 24.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently commented on USB shares. Barclays raised their price target on shares of U.S. Bancorp from $57.00 to $61.00 and gave the stock an “overweight” rating in a report on Monday, January 6th. Citigroup decreased their target price on shares of U.S. Bancorp from $65.00 to $55.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley dropped their price target 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. Oppenheimer lifted their price objective on U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research report on Friday, January 17th. Finally, Raymond James raised U.S. Bancorp from a “market perform” rating to an “outperform” rating and set a $57.00 target price on the stock in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.48.

U.S. Bancorp Trading Up 2.3 %

U.S. Bancorp stock opened at $43.81 on Tuesday. The business’s 50-day simple moving average is $46.21 and its 200-day simple moving average is $47.63. U.S. Bancorp has a 52 week low of $37.81 and a 52 week high of $53.98. The firm has a market capitalization of $68.25 billion, a PE ratio of 11.56, a PEG ratio of 1.73 and a beta of 1.02. 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 issued its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping the consensus estimate 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 return on equity of 12.94% and a net margin of 14.75%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.99 EPS. Equities research analysts forecast that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 4.57%. U.S. Bancorp’s dividend payout ratio is 52.77%.

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.