(NewsTraders) -- U.S. Bancorp (USB) shareholder U.S Bank National Association registered to sell 114,000 shares of common stock on October 5 with a market value of about $3.9 million, according to a Form 144 released October 8 by the SEC.
There were no further details about US Bank�s holdings.
Check out the Insider Trading info available here at this site. You see a lot of US Bancorp Capital Accumulation sales and US Bank National Association sales. The Capital Acumulation is the name for the employees 401K plan (Capital Accumulation Plan or CAP). Employees can realign funds on a daily basis as of 9/1/98 prior to which it was monthly. Don't know how accurate the Insider Trading list is as I'd imagine there would be daily transactions and purchases and not just sales. But maybe the sales and purchases are netted on the reports. Regardless, based on the sales of the CAP, you have to wonder if employees have lost some confidence in the stock.
Employees have not lost faith. The stock has done so well and some people have realized lately , including myself, how much of your 401K is in one company. Keep in mind that USB's 401k match is is USB stock. Given the market, movement is natural.