Meiji Yasuda Life Insurance Co reduced its stake in U.S. Bancorp (NYSE:USB) by 14.8% during the fourth quarter, according to its latest SEC disclosure. The company sold 6,958 shares, bringing its total holdings to 39,918 shares valued at $1,909,000.
This move is part of a larger trend among institutional investors adjusting their positions in U.S. Bancorp. Other major investors, including Vanguard Group Inc., FMR LLC, Charles Schwab Investment Management Inc., Geode Capital Management LLC, and Amundi, have also modified their holdings in the financial services provider.
Institutional Investor Moves
Several institutional investors have recently changed their positions in U.S. Bancorp:
- Vanguard Group Inc. increased its holdings by 0.8%, now owning 138,836,896 shares worth $6,640,569,000.
- FMR LLC grew its stake by 5.0%, holding 67,125,746 shares valued at $3,210,624,000.
- Charles Schwab Investment Management Inc. boosted its holdings by 5.2%, now owning 49,789,725 shares worth $2,381,443,000.
- Geode Capital Management LLC raised its position by 2.6%, holding 33,937,360 shares valued at $1,618,948,000.
- Amundi increased its holdings by 7.4%, now owning 19,485,615 shares worth $945,268,000.
Institutional investors collectively own 77.60% of U.S. Bancorp’s stock.
Analyst Ratings and Company Performance
Analysts have recently adjusted their ratings for U.S. Bancorp:
- Truist Financial lowered its price target from $51.00 to $48.00, maintaining a “hold” rating.
- Keefe, Bruyette & Woods reduced its target price from $54.00 to $49.00, setting a “market perform” rating.
- Bank of America decreased its target from $50.00 to $49.00, issuing a “buy” rating.
- JPMorgan Chase & Co. reaffirmed an “underweight” rating with a $43.50 price objective.
- DA Davidson lowered its target price from $54.00 to $49.00, giving a “buy” rating.
The company has an average rating of “Moderate Buy” with an average target price of $50.48.
U.S. Bancorp’s stock opened at $40.52 on Friday, with a 12-month low of $35.18 and a high of $53.98. The company reported $1.03 EPS for the quarter, beating analysts’ expectations. U.S. Bancorp announced a quarterly dividend of $0.50, representing a 4.94% yield.
