MML Investors Services LLC Raises Holdings in U.S. Bancorp (USB)

MML Investors Services LLC raised its position in U.S. Bancorp (NYSE:USB) by 51.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,777 shares of the financial services provider’s stock after buying an additional 11,135 shares during the quarter. MML Investors Services LLC’s holdings in U.S. Bancorp were worth $1,731,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Montag A & Associates Inc. lifted its stake in U.S. Bancorp by 35.6% in the third quarter. Montag A & Associates Inc. now owns 8,624 shares of the financial services provider’s stock valued at $455,000 after buying an additional 2,266 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of U.S. Bancorp by 1.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 270,684 shares of the financial services provider’s stock worth $14,295,000 after purchasing an additional 3,650 shares during the last quarter. Retirement Planning Group purchased a new stake in shares of U.S. Bancorp during the third quarter worth approximately $268,000. Granite Investment Advisors LLC purchased a new stake in shares of U.S. Bancorp during the third quarter worth approximately $202,000. Finally, Forsta AP Fonden raised its stake in shares of U.S. Bancorp by 455.3% during the third quarter. Forsta AP Fonden now owns 105,500 shares of the financial services provider’s stock worth $5,571,000 after purchasing an additional 86,500 shares during the last quarter. Institutional investors own 74.39% of the company’s stock.

In related news, Chairman Andrew Cecere sold 183,374 shares of the company’s stock in a transaction on Thursday, November 8th. The stock was sold at an average price of $52.95, for a total transaction of $9,709,653.30. Following the transaction, the chairman now owns 892,517 shares of the company’s stock, valued at $47,258,775.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Vice Chairman Gillern Jeffry H. Von sold 17,508 shares of the company’s stock in a transaction on Wednesday, October 24th. The stock was sold at an average price of $50.81, for a total value of $889,581.48. Following the transaction, the insider now directly owns 121,137 shares in the company, valued at approximately $6,154,970.97. The disclosure for this sale can be found here. Insiders have sold 253,073 shares of company stock worth $13,383,882 in the last ninety days. 0.43% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently commented on USB shares. CIBC upgraded U.S. Bancorp from a “market perform” rating to an “outperform” rating in a research note on Thursday, October 18th. Nomura cut their price target on U.S. Bancorp from $60.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, October 18th. UBS Group set a $56.00 price target on U.S. Bancorp and gave the stock a “hold” rating in a research note on Monday, October 22nd. Zacks Investment Research cut U.S. Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Finally, Wedbush set a $58.00 price target on U.S. Bancorp and gave the stock a “hold” rating in a research note on Thursday, October 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.47.

Shares of USB stock opened at $53.52 on Friday. U.S. Bancorp has a 1-year low of $48.49 and a 1-year high of $58.50. The firm has a market cap of $86.75 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 1.75 and a beta of 0.91. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91.

U.S. Bancorp (NYSE:USB) last announced its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $1.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.02. U.S. Bancorp had a return on equity of 15.14% and a net margin of 27.53%. The firm had revenue of $5.70 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the company posted $0.88 earnings per share. U.S. Bancorp’s quarterly revenue was up 1.6% on a year-over-year basis. Equities analysts predict that U.S. Bancorp will post 4.1 EPS for the current fiscal year.

WARNING: “MML Investors Services LLC Raises Holdings in U.S. Bancorp (USB)” was first reported by WKRB News and is the property of of WKRB News. If you are accessing this piece on another site, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The original version of this piece can be read at https://www.wkrb13.com/2018/11/24/mml-investors-services-llc-raises-holdings-in-u-s-bancorp-usb.html.

U.S. Bancorp Profile

U.S. Bancorp, a financial services holding company, provides various financial services in the United States. The company operates through five segments: Corporate and Commercial Banking, Consumer and Business Banking, Wealth Management and Investment Services, Payment Services, and Treasury and Corporate Support.

Recommended Story: Systematic Risk and Investors

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).

Institutional Ownership by Quarter 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.

Leave a Reply