Hartford Investment Management Co. grew its position in shares of SVB Financial Group (NASDAQ:SIVB) by 31.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 13,684 shares of the bank’s stock after acquiring an additional 3,305 shares during the period. Hartford Investment Management Co.’s holdings in SVB Financial Group were worth $3,043,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. LPL Financial LLC grew its stake in shares of SVB Financial Group by 21.6% in the 3rd quarter. LPL Financial LLC now owns 3,518 shares of the bank’s stock valued at $1,093,000 after buying an additional 625 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of SVB Financial Group by 470.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 918 shares of the bank’s stock worth $285,000 after acquiring an additional 757 shares during the last quarter. TIAA CREF Investment Management LLC lifted its holdings in shares of SVB Financial Group by 11.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 272,021 shares of the bank’s stock worth $84,552,000 after acquiring an additional 28,042 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of SVB Financial Group by 14.2% in the 3rd quarter. Nordea Investment Management AB now owns 2,872 shares of the bank’s stock worth $893,000 after acquiring an additional 357 shares during the last quarter. Finally, B. Riley Wealth Management Inc. acquired a new position in shares of SVB Financial Group in the 3rd quarter worth approximately $981,000. Institutional investors own 90.81% of the company’s stock.
Shares of SIVB traded up $3.60 during midday trading on Friday, reaching $224.60. The stock had a trading volume of 405,071 shares, compared to its average volume of 493,870. SVB Financial Group has a 1-year low of $177.70 and a 1-year high of $333.74. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.55 and a beta of 2.03. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.13.
SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $5.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.73 by $0.71. SVB Financial Group had a net margin of 36.09% and a return on equity of 20.83%. The business had revenue of $793.26 million for the quarter, compared to analyst estimates of $744.49 million. During the same period last year, the business earned $3.63 EPS. On average, analysts predict that SVB Financial Group will post 20.37 earnings per share for the current fiscal year.
Several equities analysts have recently commented on SIVB shares. Raymond James upped their price objective on shares of SVB Financial Group from $280.00 to $285.00 and gave the stock a “strong-buy” rating in a report on Friday, April 26th. ValuEngine lowered shares of SVB Financial Group from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. Bank of America set a $275.00 price objective on shares of SVB Financial Group and gave the stock a “buy” rating in a report on Friday, April 26th. Royal Bank of Canada decreased their price objective on shares of SVB Financial Group to $300.00 and set an “outperform” rating on the stock in a report on Friday, January 25th. They noted that the move was a valuation call. Finally, SunTrust Banks upped their price objective on shares of SVB Financial Group to $280.00 and gave the stock a “buy” rating in a report on Monday, January 28th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. SVB Financial Group has an average rating of “Buy” and an average price target of $309.60.
In related news, insider Christopher Edmonds-Waters sold 204 shares of the stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $256.01, for a total value of $52,226.04. Following the transaction, the insider now directly owns 3,494 shares of the company’s stock, valued at approximately $894,498.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John China sold 11,200 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $249.12, for a total transaction of $2,790,144.00. Following the completion of the transaction, the insider now directly owns 22,172 shares in the company, valued at $5,523,488.64. The disclosure for this sale can be found here. Insiders sold a total of 20,383 shares of company stock worth $5,003,767 over the last 90 days. Company insiders own 0.73% of the company’s stock.
About SVB Financial Group
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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