American International Group Inc. Has $40.71 Million Stake in U.S. Bancorp (USB)
American International Group Inc. lifted its stake in shares of U.S. Bancorp (NYSE:USB) by 2.0% in the fourth quarter, Holdings Channel reports. The fund owned 759,794 shares of the financial services provider’s stock after acquiring an additional 14,633 shares during the quarter. American International Group Inc.’s holdings in U.S. Bancorp were worth $40,710,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Meeder Asset Management Inc. acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $106,000. Phocas Financial Corp. acquired a new stake in U.S. Bancorp during the second quarter worth approximately $109,000. Horan Capital Advisors LLC. acquired a new stake in U.S. Bancorp during the third quarter worth approximately $112,000. Cerebellum GP LLC acquired a new stake in U.S. Bancorp during the fourth quarter worth approximately $123,000. Finally, Pathstone Family Office LLC grew its stake in U.S. Bancorp by 13.2% during the second quarter. Pathstone Family Office LLC now owns 3,317 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 386 shares during the period. Institutional investors own 72.80% of the company’s stock.
In other news, Vice Chairman P.W. Parker sold 98,485 shares of the firm’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $55.95, for a total value of $5,510,235.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Craig E. Gifford sold 45,890 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $55.35, for a total value of $2,540,011.50. The disclosure for this sale can be found here. Insiders sold 168,016 shares of company stock worth $9,356,775 in the last 90 days. Corporate insiders own 0.39% of the company’s stock.
U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, January 17th. The financial services provider reported $0.88 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.01. U.S. Bancorp had a return on equity of 13.89% and a net margin of 25.91%. The firm had revenue of $5.64 billion during the quarter, compared to analysts’ expectations of $5.59 billion. During the same quarter last year, the firm posted $0.82 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. equities research analysts expect that U.S. Bancorp will post 4.05 EPS for the current fiscal year.
Several equities research analysts recently commented on the company. Vining Sparks reaffirmed a “buy” rating and set a $64.00 target price on shares of U.S. Bancorp in a research note on Monday, January 8th. UBS Group cut U.S. Bancorp from a “buy” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $60.00 in a research note on Tuesday, December 12th. JPMorgan Chase & Co. cut U.S. Bancorp from a “neutral” rating to an “underweight” rating and set a $58.50 target price for the company. in a research note on Wednesday, January 31st. Barclays raised their target price on U.S. Bancorp from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Oppenheimer reaffirmed a “hold” rating on shares of U.S. Bancorp in a research note on Wednesday, January 17th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.64.
ILLEGAL ACTIVITY NOTICE: “American International Group Inc. Has $40.71 Million Stake in U.S. Bancorp (USB)” was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.watchlistnews.com/american-international-group-inc-has-40-71-million-stake-in-u-s-bancorp-usb/1903519.html.
About U.S. Bancorp
U.S. Bancorp is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing.
Want to see what other hedge funds are holding USB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for U.S. Bancorp (NYSE:USB).
Receive News & Ratings for U.S. Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for U.S. Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.