Profund Advisors LLC raised its holdings in shares of SVB Financial Group (NASDAQ:SIVB) by 24.2% during the 4th quarter, HoldingsChannel reports. The fund owned 8,152 shares of the bank’s stock after purchasing an additional 1,590 shares during the period. Profund Advisors LLC’s holdings in SVB Financial Group were worth $1,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also made changes to their positions in the business. MANA Advisors LLC bought a new stake in SVB Financial Group during the 4th quarter valued at $215,000. Caisse DE Depot ET Placement DU Quebec raised its stake in SVB Financial Group by 82.4% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 3,100 shares of the bank’s stock valued at $725,000 after acquiring an additional 1,400 shares in the last quarter. MML Investors Services LLC bought a new stake in SVB Financial Group during the 4th quarter valued at $247,000. Amundi Pioneer Asset Management Inc. raised its stake in SVB Financial Group by 144.8% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 106,509 shares of the bank’s stock valued at $24,898,000 after acquiring an additional 63,007 shares in the last quarter. Finally, AXA bought a new stake in SVB Financial Group during the 4th quarter valued at $830,000. 89.17% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SVB Financial Group (NASDAQ SIVB) opened at $270.72 on Friday. SVB Financial Group has a 12 month low of $159.44 and a 12 month high of $271.79. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $14,314.05, a price-to-earnings ratio of 27.32, a PEG ratio of 1.78 and a beta of 1.43.
Several analysts have weighed in on the company. BidaskClub downgraded SVB Financial Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 31st. SunTrust Banks reaffirmed a “buy” rating and set a $245.00 target price on shares of SVB Financial Group in a research note on Friday, November 17th. FIG Partners downgraded SVB Financial Group from an “outperform” rating to a “market perform” rating in a research note on Friday, January 26th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $280.00 target price (up previously from $240.00) on shares of SVB Financial Group in a research note on Tuesday, January 9th. Finally, Morgan Stanley lifted their target price on SVB Financial Group from $275.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $248.62.
In related news, insider Gregory W. Becker sold 4,500 shares of SVB Financial Group stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $243.49, for a total value of $1,095,705.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Michelle Draper sold 2,510 shares of SVB Financial Group stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $248.95, for a total value of $624,864.50. Following the completion of the transaction, the insider now owns 7,879 shares in the company, valued at $1,961,477.05. The disclosure for this sale can be found here. Insiders sold a total of 8,185 shares of company stock worth $2,017,574 in the last three months. Company insiders own 0.73% of the company’s stock.
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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.
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