Today, Arizona State Retirement System Maintains Position in SVB Financial Group (SIVB)

Today, Arizona State Retirement System Maintains Position in SVB Financial Group (SIVB)
Arizona State Retirement System maintained its stake in SVB Financial Group (NASDAQ:SIVB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,123 shares of the company’s stock at the end of the third quarter. Arizona State Retirement System’s holdings in SVB Financial Group were worth $2,556,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Advisory Services Network LLC boosted its stake in SVB Financial Group by 160.7% in the third quarter. Advisory Services Network LLC now owns 1,418 shares of the company’s stock worth $157,000 after buying an additional 874 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in shares of SVB Financial Group by 1,091.7% in the second quarter. Tower Research Capital LLC TRC now owns 1,442 shares of the company’s stock worth $137,000 after buying an additional 1,321 shares during the period. Advisor Group Inc. bought a new stake in shares of SVB Financial Group during the second quarter worth about $141,000. Quantbot Technologies LP bought a new stake in shares of SVB Financial Group during the second quarter worth about $144,000. Finally, One Capital Management LLC bought a new stake in shares of SVB Financial Group during the third quarter worth about $221,000. Institutional investors own 93.15% of the company’s stock.

Shares of SVB Financial Group (NASDAQ:SIVB) opened at 155.97 on Friday. The company has a 50-day moving average price of $130.09 and a 200-day moving average price of $110.10. SVB Financial Group has a 12 month low of $77.87 and a 12 month high of $156.76. The company has a market capitalization of $8.12 billion, a P/E ratio of 21.97 and a beta of 1.44.

SVB Financial Group (NASDAQ:SIVB) last announced its quarterly earnings results on Thursday, October 20th. The company reported $2.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.73 by $0.39. The company earned $433.50 million during the quarter. SVB Financial Group had a return on equity of 10.44% and a net margin of 22.84%. The company’s revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 earnings per share. On average, analysts forecast that SVB Financial Group will post $7.20 EPS for the current fiscal year.

A number of brokerages have issued reports on SIVB. RBC Capital Markets reaffirmed an “outperform” rating and set a $146.00 price objective (up from $125.00) on shares of SVB Financial Group in a report on Thursday, November 10th. Royal Bank Of Canada increased their price objective on shares of SVB Financial Group from $125.00 to $146.00 and gave the company an “outperform” rating in a report on Thursday, November 10th. Zacks Investment Research raised shares of SVB Financial Group from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Tuesday, October 25th. Barclays PLC lowered shares of SVB Financial Group from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $127.00 to $130.00 in a report on Tuesday, November 1st. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of SVB Financial Group in a report on Wednesday, October 12th. Three equities 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 stock. SVB Financial Group presently has an average rating of “Buy” and a consensus target price of $133.08.

In other news, insider John China sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $124.40, for a total transaction of $149,280.00. Following the completion of the transaction, the insider now directly owns 9,188 shares of the company’s stock, valued at approximately $1,142,987.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Philip C. Cox sold 400 shares of the company’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $123.76, for a total value of $49,504.00. Following the transaction, the insider now directly owns 4,017 shares of the company’s stock, valued at $497,143.92. The disclosure for this sale can be found here. 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.

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