Supplemental Annuity Collective Trust of NJ Takes Position in SVB Financial Group (SIVB)

Supplemental Annuity Collective Trust of NJ purchased a new position in shares of SVB Financial Group (NASDAQ:SIVB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,000 shares of the bank’s stock, valued at approximately $748,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of SVB Financial Group by 16.5% during the second quarter. BlackRock Inc. now owns 5,287,595 shares of the bank’s stock worth $929,507,000 after acquiring an additional 748,591 shares during the last quarter. Vanguard Group Inc. grew its position in shares of SVB Financial Group by 4.1% during the second quarter. Vanguard Group Inc. now owns 4,376,567 shares of the bank’s stock worth $769,356,000 after acquiring an additional 170,941 shares during the last quarter. State Street Corp grew its position in shares of SVB Financial Group by 13.5% during the second quarter. State Street Corp now owns 2,433,130 shares of the bank’s stock worth $427,721,000 after acquiring an additional 288,697 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of SVB Financial Group by 41.9% during the second quarter. JPMorgan Chase & Co. now owns 2,134,833 shares of the bank’s stock worth $375,282,000 after acquiring an additional 629,917 shares during the last quarter. Finally, Capital Research Global Investors grew its position in shares of SVB Financial Group by 2.2% during the second quarter. Capital Research Global Investors now owns 2,106,730 shares of the bank’s stock worth $370,342,000 after acquiring an additional 45,620 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

SVB Financial Group (NASDAQ:SIVB) opened at 216.69 on Friday. The company has a market cap of $11.42 billion, a price-to-earnings ratio of 26.34 and a beta of 1.63. The stock’s 50 day moving average is $182.86 and its 200 day moving average is $178.88. SVB Financial Group has a 52-week low of $116.59 and a 52-week high of $223.82.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results 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 return on equity of 12.10% and a net margin of 25.07%. The business had revenue of $533.40 million during the quarter, compared to analysts’ expectations of $490.56 million. During the same period in the previous year, the business posted $2.12 earnings per share. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. Equities research analysts forecast that SVB Financial Group will post $8.99 earnings per share for the current year.

In related news, insider Philip C. Cox sold 3,024 shares of SVB Financial Group stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $182.80, for a total value of $552,787.20. Following the completion of the sale, the insider now directly owns 2,872 shares in the company, valued at $525,001.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric Benhamou sold 2,000 shares of SVB Financial Group stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $172.01, for a total value of $344,020.00. Following the completion of the sale, the director now owns 6,672 shares of the company’s stock, valued at $1,147,650.72. The disclosure for this sale can be found here. Insiders sold 8,524 shares of company stock valued at $1,534,052 over the last ninety days. 0.73% of the stock is currently owned by company insiders.

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A number of brokerages recently issued reports on SIVB. Zacks Investment Research lowered shares of SVB Financial Group from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine lowered shares of SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $213.00 target price (up previously from $210.00) on shares of SVB Financial Group in a research report on Wednesday, October 4th. Barclays PLC reiterated an “equal weight” rating and issued a $191.00 target price (up previously from $188.00) on shares of SVB Financial Group in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $212.00 target price on shares of SVB Financial Group in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $203.00.

SVB Financial Group Profile

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.

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

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