Municipal Employees Retirement System of Michigan cut its holdings in SVB Financial Group (NASDAQ:SIVB) by 21.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,940 shares of the bank’s stock after selling 4,320 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in SVB Financial Group were worth $2,982,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. BDO Wealth Advisors LLC acquired a new position in SVB Financial Group in the second quarter valued at approximately $109,000. Exane Derivatives acquired a new position in SVB Financial Group in the second quarter valued at approximately $119,000. Peddock Capital Advisors LLC acquired a new position in SVB Financial Group in the second quarter valued at approximately $130,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in SVB Financial Group by 79.6% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 774 shares of the bank’s stock valued at $136,000 after acquiring an additional 343 shares during the last quarter. Finally, Global X Management Co. LLC lifted its holdings in SVB Financial Group by 58.6% in the second quarter. Global X Management Co. LLC now owns 782 shares of the bank’s stock valued at $137,000 after acquiring an additional 289 shares during the last quarter. Hedge funds and other institutional investors own 94.52% of the company’s stock.

A number of research firms recently commented on SIVB. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $247.00 price objective on the stock in a report on Tuesday, October 31st. Maxim Group reiterated a “buy” rating and issued a $250.00 price objective (up from $220.00) on shares of SVB Financial Group in a report on Monday, October 30th. Barclays PLC set a $217.00 price objective on SVB Financial Group and gave the company a “hold” rating in a report on Monday, October 30th. Wells Fargo & Company reiterated an “outperform” rating and issued a $240.00 price objective (up from $215.00) on shares of SVB Financial Group in a report on Thursday. Finally, ValuEngine cut SVB Financial Group from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $214.00.

SVB Financial Group (NASDAQ:SIVB) traded up $0.65 during trading hours on Monday, reaching $208.88. The company’s stock had a trading volume of 278,700 shares, compared to its average volume of 494,969. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.18. SVB Financial Group has a one year low of $138.16 and a one year high of $223.82. The firm has a market capitalization of $11,016.48, a PE ratio of 23.44, a price-to-earnings-growth ratio of 2.00 and a beta of 1.64.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $2.79 earnings per share for the quarter, topping analysts’ consensus estimates of $2.29 by $0.50. SVB Financial Group had a return on equity of 11.88% and a net margin of 25.07%. The business had revenue of $533.40 million for the quarter, compared to analyst estimates of $490.56 million. During the same quarter in the prior year, the company earned $2.12 earnings per share. The company’s revenue was up 23.0% on a year-over-year basis. equities analysts predict that SVB Financial Group will post 9.5 earnings per share for the current fiscal year.

In other news, insider Marc C. Cadieux sold 2,260 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $219.34, for a total transaction of $495,708.40. Following the sale, the insider now owns 15,971 shares of the company’s stock, valued at $3,503,079.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kamran F. Husain sold 2,890 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $220.20, for a total value of $636,378.00. Following the sale, the insider now directly owns 890 shares in the company, valued at approximately $195,978. The disclosure for this sale can be found here. Insiders have sold 7,150 shares of company stock worth $1,476,106 in the last ninety days. Corporate insiders own 0.73% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece was originally published by Watch List News and is owned by of Watch List News. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.watchlistnews.com/svb-financial-group-sivb-position-reduced-by-municipal-employees-retirement-system-of-michigan/1700525.html.

About SVB Financial Group

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.

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).

Institutional Ownership by Quarter 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.