Strategic Planning Group LLC Has $10.50 Million Stock Holdings in U.S. Bancorp $USB

Strategic Planning Group LLC boosted its position in U.S. Bancorp (NYSE:USB) by 78.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 217,261 shares of the financial services provider’s stock after acquiring an additional 95,786 shares during the quarter. U.S. Bancorp accounts for 1.4% of Strategic Planning Group LLC’s holdings, making the stock its 23rd largest holding. Strategic Planning Group LLC’s holdings in U.S. Bancorp were worth $10,500,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of USB. Vanguard Group Inc. boosted its stake in U.S. Bancorp by 1.4% in the second quarter. Vanguard Group Inc. now owns 143,269,275 shares of the financial services provider’s stock valued at $6,482,935,000 after buying an additional 2,038,996 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of U.S. Bancorp by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 36,632,410 shares of the financial services provider’s stock valued at $1,650,305,000 after purchasing an additional 456,890 shares in the last quarter. Norges Bank bought a new stake in shares of U.S. Bancorp during the 2nd quarter valued at approximately $971,285,000. Davis Selected Advisers grew its holdings in shares of U.S. Bancorp by 29.8% during the 2nd quarter. Davis Selected Advisers now owns 19,331,637 shares of the financial services provider’s stock valued at $874,757,000 after purchasing an additional 4,442,623 shares during the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC increased its position in U.S. Bancorp by 3.7% during the 2nd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 16,569,422 shares of the financial services provider’s stock worth $749,766,000 after purchasing an additional 585,968 shares in the last quarter. Institutional investors own 77.60% of the company’s stock.

Insider Activity at U.S. Bancorp

In related news, EVP James L. Chosy sold 26,909 shares of the stock in a transaction on Monday, October 20th. The shares were sold at an average price of $46.86, for a total transaction of $1,260,955.74. Following the transaction, the executive vice president directly owned 226,375 shares of the company’s stock, valued at $10,607,932.50. This represents a 10.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Andrew Cecere sold 140,445 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $46.34, for a total transaction of $6,508,221.30. Following the completion of the sale, the chairman owned 1,360,414 shares of the company’s stock, valued at $63,041,584.76. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.23% of the company’s stock.

U.S. Bancorp Stock Down 2.1%

U.S. Bancorp stock opened at $54.90 on Thursday. The firm has a market cap of $85.34 billion, a price-to-earnings ratio of 12.56, a PEG ratio of 0.98 and a beta of 1.07. U.S. Bancorp has a 52-week low of $35.18 and a 52-week high of $56.19. The company has a debt-to-equity ratio of 1.10, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a 50 day moving average price of $50.73 and a two-hundred day moving average price of $48.39.

U.S. Bancorp (NYSE:USB) last posted its quarterly earnings data on Thursday, October 16th. The financial services provider reported $1.22 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. U.S. Bancorp had a net margin of 16.89% and a return on equity of 13.34%. The company had revenue of $7.34 billion for the quarter, compared to analyst estimates of $7.17 billion. During the same period in the prior year, the firm posted $1.03 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Equities analysts predict that U.S. Bancorp will post 4.38 EPS for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 15th. Shareholders of record on Wednesday, December 31st will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date is Wednesday, December 31st. U.S. Bancorp’s dividend payout ratio is presently 47.60%.

Wall Street Analyst Weigh In

USB has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their target price on shares of U.S. Bancorp from $53.00 to $58.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Morgan Stanley reissued a “positive” rating on shares of U.S. Bancorp in a research note on Friday, October 17th. UBS Group boosted their price target on U.S. Bancorp from $49.00 to $50.00 and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Evercore ISI set a $60.00 price objective on shares of U.S. Bancorp in a report on Tuesday. Finally, DA Davidson boosted their target price on shares of U.S. Bancorp from $57.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, U.S. Bancorp has an average rating of “Moderate Buy” and an average target price of $56.30.

U.S. Bancorp Company Profile

U.S. Bancorp (NYSE: USB) is a bank holding company and the parent of U.S. Bank, a national commercial bank that provides a wide range of banking, investment, mortgage, trust and payment services. The company operates through consumer and business banking, commercial banking, payment services, and wealth management segments. Its product set includes deposit accounts, consumer and commercial lending, mortgage origination and servicing, credit and debit card services, treasury and cash management, merchant processing, and institutional and trust services.

Headquartered in Minneapolis, Minnesota, U.S.