Principal Financial Group Inc. Has $83.72 Million Holdings in U.S. Bancorp (NYSE:USB)

Principal Financial Group Inc. decreased its holdings in U.S. Bancorp (NYSE:USB) by 0.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,750,446 shares of the financial services provider’s stock after selling 13,370 shares during the quarter. Principal Financial Group Inc. owned 0.11% of U.S. Bancorp worth $83,724,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brooklyn Investment Group lifted its stake 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 buying an additional 201 shares in the last quarter. McAdam LLC lifted its position in U.S. Bancorp by 2.5% in the 3rd quarter. McAdam LLC now owns 8,503 shares of the financial services provider’s stock valued at $389,000 after acquiring an additional 209 shares in the last quarter. Capital Performance Advisors LLP lifted its position 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 valued at $392,000 after acquiring an additional 210 shares in the last quarter. HCR Wealth Advisors increased its holdings in U.S. Bancorp by 1.1% during the 4th quarter. HCR Wealth Advisors now owns 20,107 shares of the financial services provider’s stock worth $962,000 after purchasing an additional 211 shares in the last quarter. Finally, Priebe Wealth Holdings LLC raised its stake in shares of U.S. Bancorp by 4.4% in the fourth quarter. Priebe Wealth Holdings LLC now owns 5,078 shares of the financial services provider’s stock worth $243,000 after purchasing an additional 215 shares during the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity

In other U.S. Bancorp news, insider Terrance R. Dolan sold 66,317 shares of the firm’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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jodi L. Richard sold 30,000 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $47.59, for a total transaction of $1,427,700.00. Following the completion of the transaction, the insider now directly owns 99,790 shares in the company, valued at approximately $4,749,006.10. The trade was a 23.11 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 219,812 shares of company stock worth $10,385,665. 0.23% of the stock is owned by company insiders.

U.S. Bancorp Stock Performance

Shares of USB stock opened at $47.10 on Thursday. U.S. Bancorp has a 12 month low of $37.81 and a 12 month high of $53.98. The stock has a market capitalization of $73.48 billion, a P/E ratio of 12.43, a PEG ratio of 1.77 and a beta of 1.04. The company has a current ratio of 0.81, a quick ratio of 0.80 and a debt-to-equity ratio of 1.11. The firm’s 50 day moving average is $48.38 and its 200 day moving average is $47.61.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings results on Thursday, January 16th. The financial services provider reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $7.01 billion during the quarter, compared to analyst estimates of $7 billion. U.S. Bancorp had a return on equity of 12.94% and a net margin of 14.75%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period last year, the company earned $0.99 earnings per share. On average, sell-side analysts anticipate that U.S. Bancorp will post 4.38 earnings per share for the current year.

U.S. Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend was Tuesday, December 31st. U.S. Bancorp’s payout ratio is 52.77%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on USB shares. Compass Point lifted their target price on U.S. Bancorp from $49.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Deutsche Bank Aktiengesellschaft downgraded shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price for the company. in a report on Thursday, October 24th. Morgan Stanley cut 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 report on Friday, January 17th. Oppenheimer increased their price objective on shares of U.S. Bancorp from $62.00 to $63.00 and gave the company an “outperform” rating in a research note on Friday, January 17th. Finally, Piper Sandler upgraded U.S. Bancorp from a “neutral” rating to an “overweight” rating and set a $58.00 target price on the stock in a research note on Monday, January 13th. Ten research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $54.21.

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.