Tokio Marine Asset Management Co. Ltd. decreased its position in shares of SVB Financial Group (NASDAQ:SIVB) by 11.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,700 shares of the bank’s stock after selling 4,100 shares during the quarter. SVB Financial Group comprises about 1.2% of Tokio Marine Asset Management Co. Ltd.’s investment portfolio, making the stock its 23rd largest holding. Tokio Marine Asset Management Co. Ltd. owned about 0.06% of SVB Financial Group worth $7,644,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of SIVB. Citigroup Inc. lifted its holdings in SVB Financial Group by 39.6% in the second quarter. Citigroup Inc. now owns 2,006 shares of the bank’s stock worth $352,000 after purchasing an additional 569 shares during the period. Macquarie Group Ltd. lifted its holdings in SVB Financial Group by 0.8% in the second quarter. Macquarie Group Ltd. now owns 16,178 shares of the bank’s stock worth $2,844,000 after purchasing an additional 122 shares during the period. State Street Corp lifted its holdings in SVB Financial Group by 13.5% in the second quarter. State Street Corp now owns 2,433,130 shares of the bank’s stock worth $427,721,000 after purchasing an additional 288,697 shares during the period. BlueCrest Capital Management Ltd lifted its holdings in SVB Financial Group by 10.2% in the second quarter. BlueCrest Capital Management Ltd now owns 6,946 shares of the bank’s stock worth $1,221,000 after purchasing an additional 644 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in SVB Financial Group in the second quarter worth about $1,402,000. 90.11% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on SIVB. Zacks Investment Research downgraded shares of SVB Financial Group from a “buy” rating to a “hold” rating in a report on Tuesday. Maxim Group reaffirmed a “buy” rating and issued a $300.00 price objective (up previously from $250.00) on shares of SVB Financial Group in a report on Wednesday, January 10th. Jefferies Group reissued a “buy” rating on shares of SVB Financial Group in a report on Friday, January 26th. Barclays reissued a “hold” rating and issued a $273.00 price target on shares of SVB Financial Group in a report on Sunday, January 28th. Finally, BidaskClub downgraded shares of SVB Financial Group from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $239.92.
In other news, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $226.01, for a total value of $452,020.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gregory W. Becker sold 9,511 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $232.68, for a total value of $2,213,019.48. The disclosure for this sale can be found here. Insiders sold a total of 17,186 shares of company stock worth $4,057,749 in the last quarter. 0.73% of the stock is owned by corporate insiders.
SVB Financial Group (NASDAQ SIVB) traded down $0.41 during midday trading on Wednesday, reaching $239.45. The company’s stock had a trading volume of 370,600 shares, compared to its average volume of 426,685. The firm has a market cap of $12,673.05, a P/E ratio of 26.69, a PEG ratio of 1.57 and a beta of 1.49. SVB Financial Group has a 12-month low of $159.44 and a 12-month high of $263.09. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16.
SVB Financial Group (NASDAQ:SIVB) last issued its earnings results on Thursday, January 25th. The bank reported $2.19 earnings per share for the quarter, missing analysts’ consensus estimates of $2.60 by ($0.41). The business had revenue of $545.97 million during the quarter, compared to analyst estimates of $523.45 million. SVB Financial Group had a net margin of 24.25% and a return on equity of 12.83%. During the same quarter in the prior year, the company earned $1.89 EPS. research analysts forecast that SVB Financial Group will post 13.85 earnings per share for the current fiscal year.
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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.
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