Two Sigma Investments LP cut its stake in SVB Financial Group (NASDAQ:SIVB) by 95.8% during the fourth quarter, Holdings Channel reports. The firm owned 8,354 shares of the company’s stock after selling 192,035 shares during the period. Two Sigma Investments LP’s holdings in SVB Financial Group were worth $1,434,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in SVB Financial Group by 22.9% in the second quarter. Royal Bank of Canada now owns 185,104 shares of the company’s stock valued at $17,615,000 after buying an additional 34,540 shares during the period. Mason Street Advisors LLC bought a new stake in SVB Financial Group during the second quarter valued at approximately $2,248,000. Northwestern Mutual Investment Management Company LLC increased its stake in SVB Financial Group by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,943 shares of the company’s stock valued at $851,000 after buying an additional 39 shares during the period. Independent Portfolio Consultants Inc. increased its stake in SVB Financial Group by 3.7% in the third quarter. Independent Portfolio Consultants Inc. now owns 2,265 shares of the company’s stock valued at $250,000 after buying an additional 80 shares during the period. Finally, Advisory Services Network LLC increased its stake in SVB Financial Group by 160.7% in the third quarter. Advisory Services Network LLC now owns 1,418 shares of the company’s stock valued at $157,000 after buying an additional 874 shares during the period. 91.77% of the stock is currently owned by institutional investors and hedge funds.
SVB Financial Group (NASDAQ:SIVB) opened at 188.61 on Tuesday. SVB Financial Group has a 1-year low of $82.90 and a 1-year high of $198.83. The stock has a 50 day moving average price of $186.03 and a 200 day moving average price of $152.07. The stock has a market cap of $9.87 billion, a PE ratio of 25.80 and a beta of 1.47.
SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings data on Thursday, January 26th. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.79 by $0.10. SVB Financial Group had a return on equity of 10.45% and a net margin of 23.19%. During the same quarter in the prior year, the company posted $1.68 EPS. On average, analysts predict that SVB Financial Group will post $8.57 EPS for the current fiscal year.
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Several equities research analysts have commented on SIVB shares. Zacks Investment Research downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a report on Thursday, December 15th. Royal Bank of Canada reissued a “buy” rating on shares of SVB Financial Group in a report on Saturday, December 17th. Maxim Group boosted their target price on SVB Financial Group from $150.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, December 19th. Finally, JMP Securities boosted their target price on SVB Financial Group from $195.00 to $200.00 in a report on Friday, January 27th. Four investment analysts have rated the stock with a hold rating, eight have given 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 an average target price of $152.00.
In other SVB Financial Group news, insider Philip C. Cox sold 7,001 shares of the firm’s stock in a transaction on Wednesday, February 1st. The stock was sold at an average price of $172.52, for a total transaction of $1,207,812.52. Following the transaction, the insider now directly owns 5,381 shares in the company, valued at approximately $928,330.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Descheneaux sold 13,183 shares of the firm’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $170.54, for a total value of $2,248,228.82. Following the transaction, the chief financial officer now owns 18,181 shares in the company, valued at $3,100,587.74. The disclosure for this sale can be found here. Insiders have sold a total of 31,442 shares of company stock worth $5,492,723 over the last 90 days. 0.78% of the stock is currently owned by company insiders.
About SVB Financial Group
SVB Financial Group (SVB Financial) is a diversified financial services, bank holding and financial holding company. The Company operates through three segments: 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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