Ameriprise Financial Inc. Sells 73,631 Shares of SVB Financial Group (SIVB)
Ameriprise Financial Inc. cut its position in shares of SVB Financial Group (NASDAQ:SIVB) by 27.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,099 shares of the company’s stock after selling 73,631 shares during the period. Ameriprise Financial Inc. owned 0.37% of SVB Financial Group worth $18,280,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in SVB Financial Group during the second quarter worth $144,000. Boothbay Fund Management LLC purchased a new position in SVB Financial Group during the first quarter worth $212,000. Independent Portfolio Consultants Inc. raised its position in SVB Financial Group by 12.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,185 shares of the company’s stock worth $208,000 after buying an additional 240 shares during the last quarter. Massmutual Trust Co. FSB ADV purchased a new position in SVB Financial Group during the first quarter worth $231,000. Finally, Park National Corp OH raised its position in SVB Financial Group by 4.9% in the second quarter. Park National Corp OH now owns 2,297 shares of the company’s stock worth $219,000 after buying an additional 107 shares during the last quarter. 92.23% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SVB Financial Group (NASDAQ:SIVB) traded up 0.51% during trading on Wednesday, reaching $107.47. 324,634 shares of the company traded hands. SVB Financial Group has a 52 week low of $77.87 and a 52 week high of $141.75. The company’s 50-day moving average price is $106.09 and its 200-day moving average price is $102.44. The company has a market capitalization of $5.59 billion, a P/E ratio of 16.41 and a beta of 1.73.
SVB Financial Group (NASDAQ:SIVB) last posted its earnings results on Thursday, July 21st. The company reported $1.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.70 by $0.08. SVB Financial Group had a net margin of 22.00% and a return on equity of 9.90%. Equities research analysts forecast that SVB Financial Group will post $6.81 EPS for the current fiscal year.
A number of research analysts recently weighed in on the stock. Raymond James Financial Inc. reissued a “strong-buy” rating on shares of SVB Financial Group in a research report on Friday, June 3rd. Keefe, Bruyette & Woods reissued a “buy” rating on shares of SVB Financial Group in a research report on Sunday, May 29th. JMP Securities assumed coverage on shares of SVB Financial Group in a research report on Friday, September 16th. They set an “outperform” rating and a $130.00 price target on the stock. DA Davidson lowered shares of SVB Financial Group from a “buy” rating to a “neutral” rating in a research report on Friday, July 22nd. Finally, Wells Fargo & Co. reissued a “buy” rating on shares of SVB Financial Group in a research report on Friday, July 22nd. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $130.23.
In other news, Director Eric Benhamou sold 2,000 shares of the stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $106.38, for a total value of $212,760.00. Following the transaction, the director now owns 11,897 shares in the company, valued at approximately $1,265,602.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Michael Descheneaux sold 8,378 shares of the stock in a transaction that occurred on Tuesday, July 26th. The stock was sold at an average price of $103.21, for a total transaction of $864,693.38. Following the completion of the transaction, the chief financial officer now owns 15,079 shares in the company, valued at approximately $1,556,303.59. The disclosure for this sale can be found here. Company insiders own 0.78% of the company’s stock.
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.
Receive News & Ratings for SVB Financial Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SVB Financial Group and related companies with Analyst Ratings Network's FREE daily email newsletter.