1,100 Shares in SVB Financial Group (NASDAQ:SIVB) Purchased by Dupont Capital Management Corp

Dupont Capital Management Corp bought a new stake in shares of SVB Financial Group (NASDAQ:SIVB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,100 shares of the bank’s stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SIVB. Invesco Ltd. increased its position in SVB Financial Group by 122.0% during the 2nd quarter. Invesco Ltd. now owns 1,425,010 shares of the bank’s stock valued at $320,042,000 after purchasing an additional 783,083 shares during the period. Alecta Pensionsforsakring Omsesidigt increased its position in SVB Financial Group by 400.0% during the 3rd quarter. Alecta Pensionsforsakring Omsesidigt now owns 500,000 shares of the bank’s stock valued at $104,460,000 after purchasing an additional 400,000 shares during the period. Prudential PLC increased its position in SVB Financial Group by 22,290.6% during the 2nd quarter. Prudential PLC now owns 276,300 shares of the bank’s stock valued at $62,054,000 after purchasing an additional 275,066 shares during the period. Nuveen Asset Management LLC increased its position in SVB Financial Group by 1,247.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 250,496 shares of the bank’s stock valued at $56,259,000 after purchasing an additional 231,904 shares during the period. Finally, Royal Bank of Canada increased its position in SVB Financial Group by 20.4% during the 2nd quarter. Royal Bank of Canada now owns 1,038,148 shares of the bank’s stock valued at $233,157,000 after purchasing an additional 175,687 shares during the period. 91.48% of the stock is currently owned by institutional investors and hedge funds.

Shares of SVB Financial Group stock opened at $238.60 on Friday. The firm’s 50 day moving average price is $211.88 and its 200-day moving average price is $216.82. The company has a quick ratio of 0.71, a current ratio of 0.66 and a debt-to-equity ratio of 0.12. SVB Financial Group has a 52-week low of $177.70 and a 52-week high of $263.16. The company has a market cap of $12.35 billion, a P/E ratio of 13.09, a PEG ratio of 1.41 and a beta of 2.17.

SVB Financial Group (NASDAQ:SIVB) last issued its quarterly earnings data on Thursday, October 24th. The bank reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.99 by $0.16. SVB Financial Group had a net margin of 33.95% and a return on equity of 20.38%. The firm had revenue of $814.65 million for the quarter, compared to the consensus estimate of $805.27 million. During the same quarter in the previous year, the firm earned $5.10 EPS. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts forecast that SVB Financial Group will post 21.29 EPS for the current fiscal year.

In other news, insider Marc C. Cadieux sold 1,000 shares of SVB Financial Group stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $224.17, for a total value of $224,170.00. Following the transaction, the insider now owns 13,147 shares of the company’s stock, valued at approximately $2,947,162.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Philip C. Cox sold 848 shares of SVB Financial Group stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $225.00, for a total transaction of $190,800.00. Following the completion of the transaction, the insider now directly owns 8,264 shares in the company, valued at approximately $1,859,400. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,348 shares of company stock worth $1,005,270. Insiders own 0.73% of the company’s stock.

A number of research firms have commented on SIVB. JMP Securities cut their target price on shares of SVB Financial Group to $275.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 30th. ValuEngine raised shares of SVB Financial Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Wells Fargo & Co cut their target price on shares of SVB Financial Group from $240.00 to $225.00 and set a “market perform” rating on the stock in a research report on Friday, October 25th. Morgan Stanley raised their target price on shares of SVB Financial Group from $265.00 to $270.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, SunTrust Banks set a $250.00 target price on shares of SVB Financial Group and gave the company a “buy” rating in a research report on Wednesday, September 18th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $260.38.

SVB Financial Group Profile

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.

Further Reading: Mutual funds are not immune from market timing

Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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