Hartford Investment Management Co. decreased its holdings in shares of SVB Financial Group (NASDAQ:SIVB – Get Rating ) by 7.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 5,527 shares of the bank’s stock after selling 427 shares during the quarter. Hartford Investment Management Co.’s holdings. in SVB Financial Group were worth $3,092,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in SIVB. Norges Bank bought a new stake in SVB Financial Group during the fourth quarter valued at approximately $346,160,000. Nissay Asset Management Corp Japan ADV lifted its position in shares of SVB Financial Group by 1,556.2% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 151,836 shares of the bank’s stock valued at $102,981,000 after purchasing an additional 142,668 shares during the period. BlackRock Inc. increased its position in shares of SVB Financial Group by 1.7% in the fourth quarter. BlackRock Inc. now owns 5,147,972 shares of the bank’s stock valued at $3,491,564,000 after purchasing an additional 88,284 shares during the period. JPMorgan Chase & Co. increased its position in shares of SVB Financial Group by 3.8% in the fourth quarter. JPMorgan Chase & Co. now owns 2,283,331 shares of the bank’s stock valued at $1,548,646,000 after purchasing an additional 84,422 shares during the period. Finally, Sarasin & Partners LLP boosted its position in shares of SVB Financial Group by 48.6% during the first quarter. Sarasin & Partners LLP now owns 256,253 shares of the bank’s stock valued at $143,361,000 after purchasing an additional 83,801 shares during the period. Institutional investors own 88.80% of the company’s shares.
Shares of SVB Financial Group stock opened at $400.67 on Friday. The company has a market cap of $23.58 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 1.50 and a beta of 1.80. The firm’s fifty day moving average is $454.17 and its 200 day moving average is $550.65. The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.20. SVB Financial Group has a 52-week low of $374.99 and a 52-week high of $763.22.
SVB Financial Group (NASDAQ:SIVB – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The bank reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.37 by $2.55. SVB Financial Group had a net margin of 28.80% and a return on equity of 15.59%. The company had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.45 billion. In the same quarter last year, the firm earned $10.03 earnings per share. SVB Financial Group’s revenue increased by 13.9% year-on-year. On average, equities research analysts expect that SVB Financial Group will post 34.7 earnings per share for the current fiscal year.
SIVB has been the subject of a number of recent analyst reports. Piper Sandler decreased their price objective on shares of SVB Financial Group from $725.00 to $700.00 and set an “overweight” rating for the company in a research report on Friday, April 22nd. Janney Montgomery Scott upgraded shares of SVB Financial Group from a “neutral” rating to a “buy” rating and set a $875.00 target price for the company in a research report on Friday, April 22nd. Wedbush cut shares of SVB Financial Group from an “outperform” rating to a “neutral” rating in a research report on Thursday. lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Thursday, April 14th. Finally, Wells Fargo & Company decreased their target price on shares of SVB Financial Group from $900.00 to $810.00 and set an “overweight” rating on the stock in a report on Monday, March 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. SVB Financial Group presently has an average rating of “Moderate Buy” and a consensus target price of $693.28, based on data from MarketBeat.
In other news, CMO Michelle Draper sold 50 shares of the stock in a transaction on Thursday, May 5th. The stock was sold at an average price of $524.79, for a total value of $26,239.50. Following the sale, the chief marketing officer now owns 3,184 shares of the company’s stock, valued at $1,670,931.36. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Garen K. Staglin sold 500 shares of the stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $504.03, for a total transaction of $252,015.00. Following the completion of the sale, the director now directly owns 14,180 shares in the company, valued at approximately $7,147,145.40. Disclosure of this sale can be found here. Over the last three months, insiders have sold 1,840 shares of company stock valued at $919,852. Insiders own 0.62% of the company’s stock.
Profile of SVB Financial Group (Get Rating)
SVB Financial Group, a diversified financial services company, offers a variety of banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, treasury management, foreign exchange, trade finance and other financial products and services.
Want to see what other hedge funds hold SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB – Get Rating) .
Get SVB Financial Group news and ratings daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SVB Financial Group and related companies with MarketBeat.com’s FREE daily email newsletter.