PNC Financial Services Group Inc. decreased its position in SVB Financial Group (NASDAQ:SIVB) by 39.8% during the second quarter, Holdings Channel reports. The institutional investor owned 6,798 shares of the company’s stock after selling 4,490 shares during the period. PNC Financial Services Group Inc.’s holdings in SVB Financial Group were worth $648,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Aviva PLC boosted its stake in SVB Financial Group by 12.2% in the second quarter. Aviva PLC now owns 89,596 shares of the company’s stock worth $8,526,000 after buying an additional 9,752 shares in the last quarter. Princeton Alpha Management LP acquired a new stake in shares of SVB Financial Group during the second quarter worth about $983,000. First Trust Advisors LP raised its stake in shares of SVB Financial Group by 164.6% in the second quarter. First Trust Advisors LP now owns 31,601 shares of the company’s stock worth $3,007,000 after buying an additional 19,656 shares during the last quarter. Commonwealth Equity Services Inc raised its stake in shares of SVB Financial Group by 5.4% in the second quarter. Commonwealth Equity Services Inc now owns 2,989 shares of the company’s stock worth $284,000 after buying an additional 153 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in shares of SVB Financial Group by 21.2% in the second quarter. State Board of Administration of Florida Retirement System now owns 63,380 shares of the company’s stock worth $6,031,000 after buying an additional 11,090 shares during the last quarter. Hedge funds and other institutional investors own 92.23% of the company’s stock.

SVB Financial Group (NASDAQ:SIVB) traded up 0.87% during midday trading on Wednesday, reaching $107.86. The company’s stock had a trading volume of 407,651 shares. The stock has a 50 day moving average of $106.09 and a 200 day moving average of $102.44. The firm has a market capitalization of $5.61 billion, a PE ratio of 16.47 and a beta of 1.73. SVB Financial Group has a 52 week low of $77.87 and a 52 week high of $141.75.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Thursday, July 21st. The company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.70 by $0.08. SVB Financial Group had a return on equity of 9.90% and a net margin of 22.00%. On average, equities research analysts predict that SVB Financial Group will post $6.81 earnings per share for the current fiscal year.

A number of analysts have issued reports on SIVB shares. Wells Fargo & Co. reissued a “buy” rating on shares of SVB Financial Group in a research note on Friday, July 22nd. Morgan Stanley reissued a “buy” rating on shares of SVB Financial Group in a research note on Tuesday, August 2nd. Maxim Group decreased their price target on SVB Financial Group from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday, July 25th. Zacks Investment Research raised SVB Financial Group from a “sell” rating to a “hold” rating in a research note on Friday, June 17th. Finally, Barclays PLC decreased their price target on SVB Financial Group from $122.00 to $117.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. Three research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $130.23.

In related news, CFO Michael Descheneaux sold 8,378 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now directly owns 15,079 shares of the company’s stock, valued at $1,556,303.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Eric Benhamou sold 2,000 shares of the company’s stock in a transaction 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 directly owns 11,897 shares in the company, valued at $1,265,602.86. The disclosure for this sale can be found here. Corporate insiders own 0.78% of the company’s stock.

SVB Financial Group Company Profile

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.

5 Day Chart for NASDAQ:SIVB

Want to see what other hedge funds are holding SIVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SVB Financial Group (NASDAQ:SIVB).

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.