SVB Financial Group (SIVB) Shares Bought by Nuveen Asset Management LLC
Nuveen Asset Management LLC boosted its holdings in SVB Financial Group (NASDAQ:SIVB) by 682.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,780 shares of the bank’s stock after buying an additional 14,636 shares during the quarter. Nuveen Asset Management LLC’s holdings in SVB Financial Group were worth $3,187,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in SIVB. Bank of New York Mellon Corp raised its position in SVB Financial Group by 16.8% in the third quarter. Bank of New York Mellon Corp now owns 1,525,038 shares of the bank’s stock valued at $474,028,000 after purchasing an additional 219,000 shares during the last quarter. Allianz Asset Management GmbH raised its position in SVB Financial Group by 11,278.8% in the third quarter. Allianz Asset Management GmbH now owns 215,287 shares of the bank’s stock valued at $66,918,000 after purchasing an additional 213,395 shares during the last quarter. Sarasin & Partners LLP bought a new position in SVB Financial Group in the fourth quarter valued at about $40,464,000. Assenagon Asset Management S.A. bought a new position in SVB Financial Group in the fourth quarter valued at about $30,385,000. Finally, Vanguard Group Inc raised its position in SVB Financial Group by 2.2% in the third quarter. Vanguard Group Inc now owns 5,596,383 shares of the bank’s stock valued at $1,739,523,000 after purchasing an additional 121,374 shares during the last quarter. 91.08% of the stock is currently owned by institutional investors and hedge funds.
SIVB has been the subject of several research reports. ValuEngine upgraded SVB Financial Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, January 2nd. Royal Bank of Canada set a $320.00 target price on SVB Financial Group and gave the company a “buy” rating in a research report on Thursday, December 6th. SunTrust Banks increased their target price on SVB Financial Group to $280.00 and gave the company a “buy” rating in a research report on Monday, January 28th. They noted that the move was a valuation call. Zacks Investment Research upgraded SVB Financial Group from a “hold” rating to a “buy” rating and set a $253.00 target price for the company in a research report on Wednesday, January 23rd. Finally, Barclays upgraded SVB Financial Group from an “equal weight” rating to an “overweight” rating and set a $236.25 target price for the company in a research report on Wednesday, November 28th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. SVB Financial Group currently has an average rating of “Buy” and an average target price of $315.07.
SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, January 24th. The bank reported $4.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $4.69 by $0.27. SVB Financial Group had a return on equity of 19.90% and a net margin of 35.87%. The company had revenue of $673.69 million during the quarter, compared to the consensus estimate of $697.89 million. During the same period last year, the company earned $2.19 earnings per share. The firm’s revenue was up 30.0% compared to the same quarter last year. On average, research analysts anticipate that SVB Financial Group will post 20.39 EPS for the current fiscal year.
In other SVB Financial Group news, insider Christopher Edmonds-Waters sold 3,669 shares of SVB Financial Group stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $242.39, for a total value of $889,328.91. Following the completion of the sale, the insider now directly owns 6,020 shares in the company, valued at $1,459,187.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michelle Draper sold 1,748 shares of SVB Financial Group stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $238.44, for a total value of $416,793.12. Following the completion of the sale, the insider now owns 7,573 shares of the company’s stock, valued at $1,805,706.12. The disclosure for this sale can be found here. Insiders have sold 16,617 shares of company stock valued at $4,096,266 over the last 90 days. 0.73% of the stock is owned by corporate insiders.
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About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through three segments: Global Commercial Bank, SVB Private Bank, and SVB Capital. The Global Commercial Bank segment offers deposit products, such as business and analysis checking, money market, multi-currency, in-country bank, and sweep accounts, as well as merchant, remote capture, lockbox, electronic deposit capture, and fraud control services; credit products and services comprising term loans, equipment loans, asset-based loans, revolving lines of credit, accounts-receivable-based lines of credit, capital call lines of credit, and credit cards; and payment and cash management products and services, including wire transfer and automated clearing house payment, bill pay, debit and credit cards, account analysis, and disbursement, as well as online and mobile banking services.
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