Cigna Investments Inc. New Has $720,000 Position in U.S. Bancorp (NYSE:USB)

Cigna Investments Inc. New increased its holdings in shares of U.S. Bancorp (NYSE:USBFree Report) by 1.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 16,632 shares of the financial services provider’s stock after purchasing an additional 308 shares during the period. Cigna Investments Inc. New’s holdings in U.S. Bancorp were worth $720,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of U.S. Bancorp by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 136,513,206 shares of the financial services provider’s stock worth $4,513,127,000 after purchasing an additional 6,479,642 shares during the period. Mufg Bank LTD. increased its stake in U.S. Bancorp by 54.1% during the third quarter. Mufg Bank LTD. now owns 68,374,155 shares of the financial services provider’s stock valued at $2,260,450,000 after acquiring an additional 24,000,000 shares during the period. State Street Corp raised its holdings in U.S. Bancorp by 4.0% in the 2nd quarter. State Street Corp now owns 60,462,681 shares of the financial services provider’s stock valued at $2,026,405,000 after acquiring an additional 2,300,777 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its position in shares of U.S. Bancorp by 130,768.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 60,273,882 shares of the financial services provider’s stock worth $2,628,544,000 after acquiring an additional 60,227,825 shares during the period. Finally, FMR LLC grew its holdings in shares of U.S. Bancorp by 1.8% during the 3rd quarter. FMR LLC now owns 37,470,199 shares of the financial services provider’s stock worth $1,238,765,000 after purchasing an additional 674,583 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

U.S. Bancorp Price Performance

NYSE USB opened at $44.91 on Monday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market cap of $69.98 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 2.31 and a beta of 1.05. The business has a 50 day simple moving average of $42.13 and a 200 day simple moving average of $38.95. U.S. Bancorp has a 52-week low of $27.27 and a 52-week high of $45.85.

U.S. Bancorp (NYSE:USBGet Free Report) last issued its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.28. The business had revenue of $6.76 billion for the quarter, compared to analyst estimates of $6.85 billion. U.S. Bancorp had a net margin of 13.36% and a return on equity of 14.89%. The firm’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period last year, the business posted $1.20 earnings per share. Analysts anticipate that U.S. Bancorp will post 3.88 earnings per share for the current fiscal year.

U.S. Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 4.36%. The ex-dividend date of this dividend is Wednesday, March 27th. U.S. Bancorp’s dividend payout ratio (DPR) is currently 59.76%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on USB shares. Piper Sandler reaffirmed a “neutral” rating on shares of U.S. Bancorp in a research report on Friday, January 26th. Barclays lifted their target price on shares of U.S. Bancorp from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Tuesday, January 2nd. Evercore ISI boosted their price target on U.S. Bancorp from $46.00 to $48.00 and gave the company an “in-line” rating in a research note on Thursday. Odeon Capital Group raised U.S. Bancorp from a “hold” rating to a “buy” rating and set a $48.93 price objective for the company in a report on Thursday, December 14th. Finally, Stephens downgraded shares of U.S. Bancorp from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.41.

Read Our Latest Analysis on U.S. Bancorp

Insider Buying and Selling

In other U.S. Bancorp news, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction dated Thursday, January 18th. The shares were sold at an average price of $40.33, for a total transaction of $487,993.00. Following the sale, the insider now directly owns 106,958 shares of the company’s stock, valued at approximately $4,313,616.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP James L. Chosy sold 21,582 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $41.47, for a total transaction of $895,005.54. Following the transaction, the executive vice president now directly owns 164,880 shares in the company, valued at $6,837,573.60. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Timothy A. Welsh sold 12,100 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $40.33, for a total transaction of $487,993.00. Following the transaction, the insider now owns 106,958 shares in the company, valued at $4,313,616.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 60,265 shares of company stock worth $2,535,903. 0.23% of the stock is owned by insiders.

About U.S. Bancorp

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for U.S. Bancorp (NYSE:USB)

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