Tokio Marine Asset Management Co. Ltd. Raises Position in U.S. Bancorp (NYSE:USB)

Tokio Marine Asset Management Co. Ltd. boosted its holdings in U.S. Bancorp (NYSE:USB) by 8.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,906 shares of the financial services provider’s stock after acquiring an additional 3,437 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in U.S. Bancorp were worth $2,008,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Redwood Wealth Management Group LLC acquired a new stake in shares of U.S. Bancorp during the second quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new stake in U.S. Bancorp in the 2nd quarter valued at $30,000. LRI Investments LLC acquired a new position in shares of U.S. Bancorp during the first quarter worth $31,000. Y.D. More Investments Ltd acquired a new stake in U.S. Bancorp during the 2nd quarter valued at approximately $33,000. Finally, Crewe Advisors LLC bought a new position in shares of U.S. Bancorp during the first quarter worth about $39,000. Institutional investors and hedge funds own 77.60% of the company’s stock.

U.S. Bancorp Trading Down 1.7 %

NYSE:USB opened at $50.32 on Friday. The stock has a fifty day simple moving average of $46.79 and a 200 day simple moving average of $43.58. The firm has a market capitalization of $78.50 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 3.02 and a beta of 1.02. U.S. Bancorp has a 1-year low of $36.21 and a 1-year high of $51.76. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 1.04.

U.S. Bancorp (NYSE:USB) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.03 EPS for the quarter, topping the consensus estimate of $0.99 by $0.04. U.S. Bancorp had a net margin of 12.92% and a return on equity of 12.91%. The company had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.90 billion. During the same period last year, the company posted $1.05 earnings per share. The business’s revenue for the quarter was down 2.4% on a year-over-year basis. Sell-side analysts forecast that U.S. Bancorp will post 3.93 earnings per share for the current year.

U.S. Bancorp Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.50 per share. This is an increase from U.S. Bancorp’s previous quarterly dividend of $0.49. This represents a $2.00 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend was Monday, September 30th. U.S. Bancorp’s payout ratio is 61.16%.

U.S. Bancorp declared that its Board of Directors has authorized a share repurchase plan on Thursday, September 12th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the financial services provider to reacquire up to 7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on USB. Deutsche Bank Aktiengesellschaft cut shares of U.S. Bancorp from a “buy” rating to a “hold” rating and set a $51.00 target price on the stock. in a report on Thursday, October 24th. DA Davidson upped their target price on shares of U.S. Bancorp from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Stephens increased their price objective on U.S. Bancorp from $49.00 to $52.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group cut their target price on U.S. Bancorp from $48.00 to $46.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Royal Bank of Canada set a $53.00 price objective on shares of U.S. Bancorp in a research note on Thursday, October 17th. Thirteen equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $51.12.

Insider Activity

In related news, insider Jodi L. Richard sold 25,000 shares of the company’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $49.03, for a total transaction of $1,225,750.00. Following the transaction, the insider now directly owns 129,790 shares of the company’s stock, valued at approximately $6,363,603.70. The trade was a 16.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.23% of the company’s stock.

U.S. Bancorp Company 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.