SVB Financial Group (SIVB) Shares Sold by Advisors Asset Management Inc.
Advisors Asset Management Inc. lowered its holdings in SVB Financial Group (NASDAQ:SIVB) by 58.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,755 shares of the bank’s stock after selling 2,458 shares during the quarter. Advisors Asset Management Inc.’s holdings in SVB Financial Group were worth $328,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in SVB Financial Group by 16.5% in the 2nd quarter. BlackRock Inc. now owns 5,287,595 shares of the bank’s stock worth $929,507,000 after buying an additional 748,591 shares during the period. Vanguard Group Inc. lifted its holdings in SVB Financial Group by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,376,567 shares of the bank’s stock worth $769,356,000 after buying an additional 170,941 shares during the period. State Street Corp lifted its holdings in SVB Financial Group by 13.5% in the 2nd quarter. State Street Corp now owns 2,433,130 shares of the bank’s stock worth $427,721,000 after buying an additional 288,697 shares during the period. JPMorgan Chase & Co. raised its position in shares of SVB Financial Group by 41.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock worth $375,282,000 after acquiring an additional 629,917 shares in the last quarter. Finally, Capital Research Global Investors raised its position in shares of SVB Financial Group by 2.2% in the 2nd quarter. Capital Research Global Investors now owns 2,106,730 shares of the bank’s stock worth $370,342,000 after acquiring an additional 45,620 shares in the last quarter. Institutional investors and hedge funds own 91.77% of the company’s stock.
Several research analysts have recently issued reports on the company. SunTrust Banks reissued a “buy” rating and issued a $245.00 target price on shares of SVB Financial Group in a research report on Friday, November 17th. Jefferies Group reissued a “buy” rating and issued a $216.00 target price on shares of SVB Financial Group in a research report on Friday, August 11th. Zacks Investment Research lowered SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. Morgan Stanley reissued an “overweight” rating and issued a $213.00 target price (up previously from $210.00) on shares of SVB Financial Group in a research report on Wednesday, October 4th. Finally, Barclays set a $217.00 target price on SVB Financial Group and gave the stock a “hold” rating in a research report on Monday, October 30th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $216.21.
In other SVB Financial Group news, insider Christopher Edmonds-Waters sold 3,630 shares of SVB Financial Group stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $209.86, for a total value of $761,791.80. Following the completion of the sale, the insider now owns 5,918 shares of the company’s stock, valued at approximately $1,241,951.48. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Marc C. Cadieux sold 2,260 shares of SVB Financial Group stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total value of $495,708.40. Following the completion of the sale, the insider now directly owns 15,971 shares of the company’s stock, valued at approximately $3,503,079.14. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,780 shares of company stock valued at $2,345,898. 0.73% of the stock is owned by corporate insiders.
SVB Financial Group (SIVB) opened at $228.66 on Thursday. SVB Financial Group has a 52-week low of $159.44 and a 52-week high of $236.18. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $12,197.35, a P/E ratio of 25.96, a P/E/G ratio of 2.21 and a beta of 1.62.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $2.79 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The company had revenue of $533.40 million during the quarter, compared to analyst estimates of $490.56 million. During the same quarter last year, the company earned $2.12 EPS. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. equities analysts forecast that SVB Financial Group will post 9.5 earnings per share for the current year.
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SVB Financial Group Profile
SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include 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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