Principal Financial Group Inc. Has $91.09 Million Stock Holdings in U.S. Bancorp $USB

Principal Financial Group Inc. decreased its stake in U.S. Bancorp (NYSE:USB) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,751,314 shares of the financial services provider’s stock after selling 18,275 shares during the period. Principal Financial Group Inc.’s holdings in U.S. Bancorp were worth $91,086,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of USB. Brighton Jones LLC boosted its holdings in shares of U.S. Bancorp by 323.0% in the 4th quarter. Brighton Jones LLC now owns 48,274 shares of the financial services provider’s stock valued at $2,309,000 after buying an additional 36,863 shares during the last quarter. Empowered Funds LLC increased its holdings in U.S. Bancorp by 2.1% during the first quarter. Empowered Funds LLC now owns 34,411 shares of the financial services provider’s stock worth $1,453,000 after buying an additional 714 shares during the last quarter. Intech Investment Management LLC raised its position in U.S. Bancorp by 18.9% during the first quarter. Intech Investment Management LLC now owns 39,276 shares of the financial services provider’s stock worth $1,658,000 after acquiring an additional 6,252 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in U.S. Bancorp in the second quarter valued at $425,000. Finally, Nebula Research & Development LLC bought a new position in shares of U.S. Bancorp in the 2nd quarter valued at about $701,000. Institutional investors own 77.60% of the company’s stock.

Trending Headlines about U.S. Bancorp

Here are the key news stories impacting U.S. Bancorp this week:

• Positive Sentiment: Analysts expect U.S. Bancorp to report higher loan balances and stronger fee income, which could support a better-than-expected earnings result and help justify the stock’s recent strength. Loan Growth & Strong Fee Income to Aid U.S. Bancorp’s Q2 Earnings
• Positive Sentiment: Another preview pointed to expected revenue and EPS growth ahead of Thursday’s release, reinforcing hopes that USB can deliver a solid quarter. U.S. Bancorp Earnings: What To Look For From USB
• Neutral Sentiment: Peer bank results have generally been supportive for the sector, with Citigroup and Wells Fargo both rising after earnings beats driven by higher net interest income and fee income, which can help sentiment for USB. Citigroup Stock Up as Q2 Earnings Beat on Higher NII & Fee Income Wells Fargo Q2 Earnings Beat on NII & Fee Income Growth, Stock Up
• Negative Sentiment: There was also a notable headline that LPL Financial hired a five-person advisory team from U.S. Bank overseeing $2.4 billion in assets, which may raise questions about client retention in wealth management. LPL Financial Hires $2.4 Billion Financial Advisory Team From U.S. Bank

Analyst Ratings Changes

Several research firms have recently weighed in on USB. Jefferies Financial Group upgraded shares of U.S. Bancorp from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $60.00 to $75.00 in a research note on Monday, July 6th. Morgan Stanley boosted their price target on U.S. Bancorp from $64.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Wells Fargo & Company upped their price objective on U.S. Bancorp from $62.00 to $66.00 and gave the company an “overweight” rating in a research note on Monday, July 6th. Truist Financial raised their price objective on U.S. Bancorp from $62.00 to $66.00 and gave the company a “buy” rating in a research report on Friday, June 26th. Finally, Weiss Ratings upgraded U.S. Bancorp from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, U.S. Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.31.

U.S. Bancorp Price Performance

Shares of NYSE USB opened at $63.04 on Thursday. The firm has a market cap of $97.78 billion, a P/E ratio of 13.22, a price-to-earnings-growth ratio of 1.07 and a beta of 0.96. The business’s 50 day moving average is $57.56 and its 200-day moving average is $55.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 1.03. U.S. Bancorp has a 1-year low of $43.46 and a 1-year high of $63.39.

U.S. Bancorp (NYSE:USB) last issued its quarterly earnings data on Thursday, April 16th. The financial services provider reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.04. The firm had revenue of $7.32 billion for the quarter, compared to analyst estimates of $7.27 billion. U.S. Bancorp had a return on equity of 13.55% and a net margin of 18.01%.The company’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.03 EPS. Equities research analysts predict that U.S. Bancorp will post 5.11 earnings per share for the current year.

U.S. Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.52 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.08 annualized dividend and a dividend yield of 3.3%. U.S. Bancorp’s dividend payout ratio is 43.61%.

Insider Activity

In related news, EVP Venkatachari Dilip sold 34,522 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.52, for a total transaction of $1,916,661.44. Following the transaction, the executive vice president directly owned 51,292 shares of the company’s stock, valued at approximately $2,847,731.84. This trade represents a 40.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jodi L. Richard sold 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $57.00, for a total transaction of $2,280,000.00. Following the transaction, the insider directly owned 207,251 shares in the company, valued at approximately $11,813,307. This represents a 16.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.21% of the company’s stock.

U.S. Bancorp 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.