Alecta Tjanstepension Omsesidigt Makes New $111.27 Million Investment in U.S. Bancorp (NYSE:USB)

Alecta Tjanstepension Omsesidigt acquired a new stake in U.S. Bancorp (NYSE:USB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 2,325,000 shares of the financial services provider’s stock, valued at approximately $111,274,000.

Other hedge funds have also made changes to their positions in the company. Winch Advisory Services LLC raised its position in shares of U.S. Bancorp by 1,088.9% during the 4th quarter. Winch Advisory Services LLC now owns 535 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 490 shares in the last quarter. FPC Investment Advisory Inc. acquired a new stake in shares of U.S. Bancorp during the fourth quarter worth about $28,000. Global Wealth Strategies & Associates raised its stake in shares of 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 purchasing an additional 250 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of U.S. Bancorp in the fourth quarter valued at about $30,000. Finally, Frazier Financial Advisors LLC increased its position in U.S. Bancorp by 222.7% during the 3rd quarter. Frazier Financial Advisors LLC now owns 639 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 441 shares during the period. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Stock Down 0.5 %

USB stock opened at $45.67 on Thursday. U.S. Bancorp has a 1-year low of $37.81 and a 1-year high of $53.98. The firm has a market capitalization of $71.24 billion, a PE ratio of 12.05, a PEG ratio of 1.73 and a beta of 1.04. The business’s 50 day simple moving average is $47.96 and its 200 day simple moving average is $47.77. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11.

U.S. Bancorp (NYSE:USB) last issued its earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, beating the consensus estimate of $1.06 by $0.01. U.S. Bancorp had a net margin of 14.75% and a return on equity of 12.94%. The company had revenue of $7.01 billion during the quarter, compared to analysts’ expectations of $7 billion. During the same period in the previous year, the company earned $0.99 EPS. The business’s revenue for the quarter was up 3.7% compared to the same quarter last year. As a group, research analysts anticipate that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 4.38%. U.S. Bancorp’s dividend payout ratio (DPR) is currently 52.77%.

Analyst Ratings Changes

Several analysts have weighed in on the company. DA Davidson raised U.S. Bancorp from a “neutral” rating to a “buy” rating and upped their target price for the company from $58.00 to $60.00 in a report on Thursday, January 2nd. Barclays lifted their price objective on U.S. Bancorp from $57.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, January 6th. Evercore ISI upped their target price on shares of U.S. Bancorp from $51.00 to $54.00 and gave the company an “in-line” rating in a research note on Wednesday, October 30th. Compass Point boosted their target price on shares of U.S. Bancorp from $49.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company raised their price objective on U.S. Bancorp from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $54.21.

Insider Buying and Selling

In other news, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $47.59, for a total value of $1,427,700.00. Following the completion of the sale, the insider now owns 99,790 shares in the company, valued at $4,749,006.10. This represents a 23.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Terrance R. Dolan sold 66,317 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were 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 owns 209,482 shares of the company’s stock, valued at $9,837,274.72. This trade represents a 24.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 219,812 shares of company stock valued at $10,385,665 over the last 90 days. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Profile

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.