UBS Asset Management Americas Inc. Buys 1,140 Shares of SVB Financial Group (SIVB)
UBS Asset Management Americas Inc. increased its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 2.9% during the second quarter, Holdings Channel reports. The firm owned 40,390 shares of the company’s stock after buying an additional 1,140 shares during the period. UBS Asset Management Americas Inc. owned approximately 0.08% of SVB Financial Group worth $3,844,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Harding Loevner LP raised its position in SVB Financial Group by 0.3% in the second quarter. Harding Loevner LP now owns 2,883,683 shares of the company’s stock valued at $274,411,000 after buying an additional 8,218 shares during the period. JPMorgan Chase & Co. raised its position in SVB Financial Group by 6.7% in the first quarter. JPMorgan Chase & Co. now owns 2,364,948 shares of the company’s stock valued at $241,343,000 after buying an additional 149,438 shares during the period. Fisher Asset Management LLC raised its position in SVB Financial Group by 1.3% in the second quarter. Fisher Asset Management LLC now owns 1,636,848 shares of the company’s stock valued at $157,268,000 after buying an additional 20,874 shares during the period. TimesSquare Capital Management LLC bought a new position in SVB Financial Group during the first quarter valued at approximately $48,872,000. Finally, American Century Companies Inc. raised its position in SVB Financial Group by 31.4% in the second quarter. American Century Companies Inc. now owns 478,729 shares of the company’s stock valued at $45,556,000 after buying an additional 114,499 shares during the period. 92.23% of the stock is owned by institutional investors.
Shares of SVB Financial Group (NASDAQ:SIVB) traded up 3.01% during midday trading on Friday, hitting $110.54. The stock had a trading volume of 410,807 shares. The stock has a 50-day moving average of $107.58 and a 200 day moving average of $102.93. The stock has a market cap of $5.75 billion, a PE ratio of 16.88 and a beta of 1.73. SVB Financial Group has a 52 week low of $77.87 and a 52 week high of $141.75.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.70 by $0.08. SVB Financial Group had a net margin of 22.00% and a return on equity of 9.90%. Analysts anticipate that SVB Financial Group will post $6.81 EPS for the current fiscal year.
Several equities analysts have recently commented on SIVB shares. Wells Fargo & Co. reaffirmed a “buy” rating on shares of SVB Financial Group in a report on Friday, July 22nd. Morgan Stanley reissued a “buy” rating on shares of SVB Financial Group in a report on Tuesday, August 2nd. Barclays PLC raised SVB Financial Group from an “overweight” rating to a “top pick” rating and increased their price objective for the stock from $139.00 to $150.00 in a report on Wednesday. Maxim Group decreased their price objective on SVB Financial Group from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, July 25th. Finally, Zacks Investment Research raised SVB Financial Group from a “sell” rating to a “hold” rating in a report on Friday, June 17th. Three analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $132.77.
In related news, Director Eric Benhamou sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $106.38, for a total value of $212,760.00. Following the completion of the sale, the director now owns 11,897 shares of the company’s stock, valued at $1,265,602.86. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Michael Descheneaux sold 8,378 shares of the firm’s stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $103.21, for a total transaction of $864,693.38. Following the completion of the sale, the chief financial officer now directly owns 15,079 shares of the company’s stock, valued at approximately $1,556,303.59. The disclosure for this sale can be found here. 0.78% of the stock is currently owned by insiders.
About SVB Financial Group
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.
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