Principal Financial Group Inc. Has $29.10 Million Stock Holdings in SVB Financial Group (NASDAQ:SIVB)

Principal Financial Group Inc. decreased its holdings in shares of SVB Financial Group (NASDAQ:SIVB) by 3.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,021 shares of the bank’s stock after selling 2,602 shares during the period. Principal Financial Group Inc. owned 0.14% of SVB Financial Group worth $29,096,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. BlackRock Inc. boosted its position in shares of SVB Financial Group by 5.9% during the 4th quarter. BlackRock Inc. now owns 4,252,565 shares of the bank’s stock valued at $1,649,273,000 after purchasing an additional 237,736 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in SVB Financial Group by 130.4% in the fourth quarter. Alliancebernstein L.P. now owns 752,944 shares of the bank’s stock worth $292,014,000 after acquiring an additional 426,124 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in SVB Financial Group by 0.4% in the fourth quarter. Janus Henderson Group PLC now owns 693,552 shares of the bank’s stock worth $268,978,000 after acquiring an additional 2,439 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in SVB Financial Group by 2.1% in the fourth quarter. Victory Capital Management Inc. now owns 498,556 shares of the bank’s stock worth $193,355,000 after acquiring an additional 10,321 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in SVB Financial Group by 147.6% in the fourth quarter. Lord Abbett & CO. LLC now owns 472,236 shares of the bank’s stock worth $183,148,000 after acquiring an additional 281,480 shares in the last quarter. Institutional investors own 88.38% of the company’s stock.

SVB Financial Group stock opened at $484.59 on Thursday. SVB Financial Group has a one year low of $152.76 and a one year high of $577.06. The business has a fifty day moving average price of $516.62 and a 200-day moving average price of $398.90. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.66 and a quick ratio of 0.66. The firm has a market capitalization of $25.19 billion, a P/E ratio of 23.64, a PEG ratio of 3.23 and a beta of 2.14.

SVB Financial Group (NASDAQ:SIVB) last posted its quarterly earnings results on Wednesday, January 20th. The bank reported $7.40 EPS for the quarter, topping the Zacks’ consensus estimate of $3.75 by $3.65. SVB Financial Group had a return on equity of 15.40% and a net margin of 28.60%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $863.40 million. Sell-side analysts expect that SVB Financial Group will post 19.21 earnings per share for the current fiscal year.

In related news, insider Michael Descheneaux sold 3,158 shares of the business’s stock in a transaction dated Wednesday, January 27th. The stock was sold at an average price of $471.59, for a total transaction of $1,489,281.22. Following the transaction, the insider now owns 24,591 shares in the company, valued at approximately $11,596,869.69. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Gregory W. Becker sold 12,000 shares of the business’s stock in a transaction dated Wednesday, January 27th. The shares were sold at an average price of $462.85, for a total value of $5,554,200.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 46,580 shares of company stock worth $22,350,987. Company insiders own 0.78% of the company’s stock.

SIVB has been the topic of several recent research reports. Barclays increased their price target on SVB Financial Group from $470.00 to $550.00 and gave the stock an “equal weight” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on SVB Financial Group from $494.00 to $508.00 and gave the stock an “outperform” rating in a research note on Friday, January 22nd. Maxim Group increased their price objective on SVB Financial Group from $510.00 to $600.00 and gave the stock a “buy” rating in a research note on Monday, January 25th. They noted that the move was a valuation call. DA Davidson increased their price objective on SVB Financial Group from $365.00 to $400.00 in a research note on Tuesday, January 5th. Finally, Piper Sandler assumed coverage on SVB Financial Group in a research note on Thursday, February 25th. They issued an “overweight” rating and a $600.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $441.56.

SVB Financial Group Company Profile

SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. The company operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. 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 solutions comprising term loans, equipment and asset-based loans, revolving lines of credit, and credit card programs, as well as mezzanine lending, acquisition finance, and corporate working capital facilities; 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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Institutional Ownership by Quarter for SVB Financial Group (NASDAQ:SIVB)

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