U.S. Bancorp (USB): 2 Insiders Sell Stock

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U.S. Bancorp (NYSE:USB) saw two of its insiders unload stock yesterday. The talk is of Vice Chairman, Richard Payne Jr., who disposed of 70,000 shares in Common Stock, $0.01 par value, directly, for a weighted average price of $42.76 per share. The insider also exercised his use of employee stock options. This is one of many large dispositions completed by the insider during fiscal 2014. In fact, last Thursday, Payne sold 105,000 shares for a price of $42.11 per share.

Jerry Levin, Director at the $77 billion market cap multi-state financial service holding firm, was the second insider to unload stock yesterday. Levin sold 35,845 shares of Common Stock, $0.01 par value, directly, and for the same weighted average price as Payne. Furthermore, the insider exercised his use of non-employee director stock options to complete the transaction. This is the only large scale disposition to be completed by Levin over the past year.

Regarding hedge fund holdings this quarter, Andreas Halvorsen’s hedge fund, Viking Global, has entered a new shareholder position, with over 3.4 million U.S. Bancorp shares, worth $148.6 million.

Disclosure: none

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