Legal & General Group Plc increased its stake in SVB Financial Group (NASDAQ:SIVB) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 238,034 shares of the bank’s stock after purchasing an additional 15,163 shares during the period. Legal & General Group Plc owned 0.45% of SVB Financial Group worth $45,208,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. lifted its holdings in shares of SVB Financial Group by 135.4% in the 4th quarter. Bronfman E.L. Rothschild L.P. now owns 193 shares of the bank’s stock worth $37,000 after purchasing an additional 111 shares during the last quarter. Clean Yield Group bought a new stake in SVB Financial Group during the 4th quarter valued at $47,000. JOYN Advisors Inc. raised its stake in SVB Financial Group by 106.9% during the 4th quarter. JOYN Advisors Inc. now owns 271 shares of the bank’s stock valued at $51,000 after acquiring an additional 140 shares in the last quarter. Paradigm Asset Management Co. LLC acquired a new position in shares of SVB Financial Group during the 3rd quarter valued at $93,000. Finally, Heritage Trust Co acquired a new position in shares of SVB Financial Group during the 4th quarter valued at $95,000. 91.12% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Christopher Edmonds-Waters sold 3,669 shares of SVB Financial Group stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $242.39, for a total value of $889,328.91. Following the transaction, the insider now directly owns 6,020 shares in the company, valued at $1,459,187.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John China sold 11,200 shares of SVB Financial Group stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $249.12, for a total value of $2,790,144.00. Following the completion of the transaction, the insider now owns 22,172 shares in the company, valued at $5,523,488.64. The disclosure for this sale can be found here. Insiders sold 16,617 shares of company stock worth $4,096,266 over the last quarter. 0.73% of the stock is currently owned by corporate insiders.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, January 24th. The bank reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.69 by $0.27. SVB Financial Group had a return on equity of 19.90% and a net margin of 35.87%. The company had revenue of $673.69 million during the quarter, compared to analysts’ expectations of $697.89 million. During the same quarter in the previous year, the firm earned $2.19 earnings per share. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, research analysts expect that SVB Financial Group will post 20.22 EPS for the current fiscal year.
Several equities analysts have recently issued reports on SIVB shares. ValuEngine upgraded SVB Financial Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. SunTrust Banks lifted their price target on SVB Financial Group to $280.00 and gave the company a “buy” rating in a report on Monday, January 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $253.00 price target on the stock in a report on Wednesday, January 23rd. BidaskClub upgraded SVB Financial Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, January 29th. Finally, Bank of America set a $280.00 price target on SVB Financial Group and gave the company a “buy” rating in a report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $315.07.
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SVB Financial Group Company Profile
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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