Metropolitan Life Insurance Co. NY decreased its holdings in SVB Financial Group (NASDAQ:SIVB) by 67.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,881 shares of the bank’s stock after selling 34,451 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in SVB Financial Group were worth $3,946,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently made changes to their positions in the company. California Public Employees Retirement System lifted its position in SVB Financial Group by 3.8% during the third quarter. California Public Employees Retirement System now owns 139,055 shares of the bank’s stock valued at $26,016,000 after buying an additional 5,155 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in SVB Financial Group during the fourth quarter valued at $226,000. Wells Fargo & Company MN lifted its position in SVB Financial Group by 7.8% during the third quarter. Wells Fargo & Company MN now owns 107,473 shares of the bank’s stock valued at $20,107,000 after buying an additional 7,783 shares during the period. Suntrust Banks Inc. lifted its position in SVB Financial Group by 2.2% during the fourth quarter. Suntrust Banks Inc. now owns 20,453 shares of the bank’s stock valued at $4,780,000 after buying an additional 432 shares during the period. Finally, Peloton Wealth Strategists lifted its position in SVB Financial Group by 482.6% during the third quarter. Peloton Wealth Strategists now owns 10,050 shares of the bank’s stock valued at $1,880,000 after buying an additional 8,325 shares during the period. 89.65% of the stock is owned by institutional investors and hedge funds.
In other news, insider Philip C. Cox sold 1,175 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $252.77, for a total transaction of $297,004.75. Following the completion of the transaction, the insider now directly owns 4,097 shares in the company, valued at $1,035,598.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Draper sold 2,510 shares of the firm’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $248.95, for a total value of $624,864.50. Following the transaction, the insider now owns 7,879 shares of the company’s stock, valued at $1,961,477.05. The disclosure for this sale can be found here. Insiders have sold 8,185 shares of company stock valued at $2,017,574 over the last 90 days. Corporate insiders own 0.74% of the company’s stock.
SVB Financial Group (SIVB) opened at $260.59 on Tuesday. SVB Financial Group has a twelve month low of $159.44 and a twelve month high of $271.79. The company has a current ratio of 0.59, a quick ratio of 0.59 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $13,952.31, a price-to-earnings ratio of 28.29, a PEG ratio of 1.73 and a beta of 1.43.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $2.19 earnings per share for the quarter, missing the consensus estimate of $2.60 by ($0.41). SVB Financial Group had a net margin of 24.25% and a return on equity of 12.83%. The company had revenue of $545.97 million for the quarter, compared to the consensus estimate of $523.45 million. During the same quarter in the previous year, the business earned $1.89 earnings per share. sell-side analysts anticipate that SVB Financial Group will post 13.86 EPS for the current fiscal year.
SIVB has been the subject of several recent research reports. ValuEngine lowered SVB Financial Group from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Zacks Investment Research raised SVB Financial Group from a “hold” rating to a “buy” rating and set a $271.00 price objective for the company in a research report on Wednesday, December 27th. Barclays raised their price objective on SVB Financial Group from $217.00 to $251.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 2nd. SunTrust Banks reissued a “buy” rating and set a $280.00 price objective on shares of SVB Financial Group in a research report on Wednesday, January 3rd. Finally, Wells Fargo reissued an “outperform” rating and set a $280.00 price objective (up previously from $240.00) on shares of SVB Financial Group in a research report on Tuesday, January 9th. Five research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $248.62.
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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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