Arizona State Retirement System Lowers Position in SVB Financial Group (SIVB)

Arizona State Retirement System trimmed its position in SVB Financial Group (NASDAQ:SIVB) by 7.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,106 shares of the bank’s stock after selling 835 shares during the quarter. Arizona State Retirement System’s holdings in SVB Financial Group were worth $2,247,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. TIAA CREF Investment Management LLC grew its stake in SVB Financial Group by 11.5% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 272,021 shares of the bank’s stock valued at $84,552,000 after acquiring an additional 28,042 shares in the last quarter. Standard Life Aberdeen plc grew its stake in SVB Financial Group by 7.7% during the 3rd quarter. Standard Life Aberdeen plc now owns 26,123 shares of the bank’s stock valued at $8,120,000 after acquiring an additional 1,876 shares in the last quarter. Legal & General Group Plc grew its stake in SVB Financial Group by 1.0% during the 3rd quarter. Legal & General Group Plc now owns 222,871 shares of the bank’s stock valued at $69,275,000 after acquiring an additional 2,209 shares in the last quarter. Morgan Stanley grew its stake in SVB Financial Group by 19.2% during the 3rd quarter. Morgan Stanley now owns 329,136 shares of the bank’s stock valued at $102,305,000 after acquiring an additional 53,000 shares in the last quarter. Finally, Vanguard Group Inc grew its stake in SVB Financial Group by 2.2% during the 3rd quarter. Vanguard Group Inc now owns 5,596,383 shares of the bank’s stock valued at $1,739,523,000 after acquiring an additional 121,374 shares in the last quarter. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Shares of SIVB stock opened at $247.89 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.65 and a debt-to-equity ratio of 0.13. SVB Financial Group has a one year low of $177.70 and a one year high of $333.74. The company has a market capitalization of $13.17 billion, a PE ratio of 13.60, a P/E/G ratio of 1.64 and a beta of 2.03.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, April 25th. The bank reported $5.44 EPS for the quarter, topping the 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 firm had revenue of $793.26 million for the quarter, compared to analyst estimates of $744.49 million. During the same period in the prior year, the business posted $3.63 EPS. Equities analysts expect that SVB Financial Group will post 20.37 earnings per share for the current year.

In other news, insider John China sold 11,200 shares of the company’s stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $249.12, for a total value of $2,790,144.00. Following the transaction, the insider now directly owns 22,172 shares in the company, valued at approximately $5,523,488.64. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher Edmonds-Waters sold 3,669 shares of the company’s stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $242.39, for a total transaction of $889,328.91. Following the completion of the transaction, the insider now owns 6,020 shares in the company, valued at $1,459,187.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,052 shares of company stock worth $4,455,795. Company insiders own 0.73% of the company’s stock.

Several research firms have weighed in on SIVB. Piper Jaffray Companies set a $291.00 target price on shares of SVB Financial Group and gave the company a “buy” rating in a report on Friday, January 25th. ValuEngine upgraded shares of SVB Financial Group from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. BidaskClub lowered shares of SVB Financial Group from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 26th. Zacks Investment Research upgraded shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $253.00 target price on the stock in a report on Wednesday, January 23rd. Finally, SunTrust Banks boosted their target price on shares of 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. One analyst has rated the stock with a sell rating, four have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. SVB Financial Group presently has an average rating of “Buy” and a consensus price target of $309.60.

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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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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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