British Airways Pensions Investment Management Ltd lifted its position in SVB Financial Group (NASDAQ:SIVB) by 23.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,909 shares of the bank’s stock after acquiring an additional 20,810 shares during the period. British Airways Pensions Investment Management Ltd owned approximately 0.21% of SVB Financial Group worth $20,370,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in SIVB. Harbour Capital Advisors LLC raised its holdings in SVB Financial Group by 17,141.0% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock worth $7,907,000 after buying an additional 1,381,910 shares during the period. Janus Henderson Group PLC acquired a new stake in SVB Financial Group during the 2nd quarter worth approximately $173,726,000. BlackRock Inc. raised its holdings in SVB Financial Group by 16.5% during 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. JPMorgan Chase & Co. raised its holdings in SVB Financial Group by 41.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock worth $375,282,000 after buying an additional 629,917 shares during the period. Finally, CI Investments Inc. acquired a new stake in SVB Financial Group during the 3rd quarter worth approximately $95,902,000. Institutional investors and hedge funds own 94.52% of the company’s stock.
Several brokerages have commented on SIVB. Wells Fargo & Company restated an “outperform” rating and set a $240.00 target price (up from $215.00) on shares of SVB Financial Group in a report on Thursday, November 9th. ValuEngine downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Monday. Jefferies Group LLC restated a “buy” rating and set a $216.00 target price on shares of SVB Financial Group in a report on Friday, August 11th. Finally, Stephens restated a “buy” rating and set a $205.00 target price on shares of SVB Financial Group in a report on Friday, July 28th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $214.00.
In related news, insider Marc C. Cadieux sold 2,260 shares of the firm’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $219.34, for a total value of $495,708.40. Following the completion of the transaction, the insider now directly owns 15,971 shares of the company’s stock, valued at $3,503,079.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kamran F. Husain sold 2,890 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $220.20, for a total transaction of $636,378.00. Following the completion of the transaction, the insider now directly owns 890 shares of the company’s stock, valued at $195,978. The disclosure for this sale can be found here. Insiders sold 7,150 shares of company stock worth $1,476,106 over the last quarter. 0.73% of the stock is owned by corporate insiders.
SVB Financial Group (NASDAQ SIVB) traded up $0.46 during midday trading on Thursday, hitting $213.74. 342,000 shares of the stock were exchanged, compared to its average volume of 493,776. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.18. SVB Financial Group has a 12 month low of $146.79 and a 12 month high of $223.82. The firm has a market capitalization of $11,248.54, a P/E ratio of 23.94, a PEG ratio of 2.04 and a beta of 1.64.
SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $2.79 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.29 by $0.50. SVB Financial Group had a net margin of 25.07% and a return on equity of 11.88%. The company had revenue of $533.40 million for the quarter, compared to the consensus estimate of $490.56 million. During the same period last year, the company earned $2.12 earnings per share. The firm’s revenue was up 23.0% compared to the same quarter last year. sell-side analysts predict that SVB Financial Group will post 9.5 earnings per share for the current fiscal year.
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About SVB Financial Group
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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