AE Wealth Management LLC sells 758 shares of SVB Financial Group (NASDAQ: SIVB)


AE Wealth Management LLC reduced its stake in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 43.2% in Q1, HoldingsChannel reports. The institutional investor held 996 shares of the bank after selling 758 shares during the quarter. AE Wealth Management LLC’s holdings in SVB Financial Group were worth $557,000 at the end of the most recent reporting period.

Several other hedge funds have also recently changed their stock holdings. Savant Capital LLC increased its stake in shares of SVB Financial Group by 1.9% in the fourth quarter. Savant Capital LLC now owns 903 shares of the bank valued at $612,000 after purchasing 17 additional shares during the period. Great Diamond Partners LLC increased its position in SVB Financial Group by 2.3% during the fourth quarter. Great Diamond Partners LLC now owns 847 shares of the bank valued at $574,000 after buying 19 more shares last quarter. Lincoln National Corp increased its position in SVB Financial Group by 3.1% during the fourth quarter. Lincoln National Corp now owns 635 shares of the bank valued at $431,000 after buying 19 more shares last quarter. RFG Advisory LLC increased its position in SVB Financial Group by 4.5% during the fourth quarter. RFG Advisory LLC now owns 466 shares of the bank valued at $316,000 after buying 20 more shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its position in SVB Financial Group by 27.5% during the fourth quarter. Koshinski Asset Management Inc. now owns 102 shares of the bank valued at $69,000 after buying 22 more shares last quarter. Institutional investors and hedge funds hold 88.80% of the company’s shares.

In other news, CMO Michelle Draper sold 50 shares in a trade dated Thursday, May 5. The shares were sold at an average price of $524.79, for a total transaction of $26,239.50. As a result of the transaction, the chief marketing officer now owns 3,184 shares of the company, valued at approximately $1,670,931.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, director Garen K. Staglin sold 500 shares in a trade dated Tuesday, May 3. The stock was sold at an average price of $504.03, for a total transaction of $252,015.00. As a result of the transaction, the administrator now directly owns 14,180 shares of the company, valued at approximately $7,147,145.40. The disclosure of this sale can be found here. Insiders sold a total of 1,840 shares of the company worth $919,852 over the past three months. Insiders own 0.62% of the shares of the company.

Several research analysts commented on the title. Jefferies Financial Group lowered its price target on SVB Financial Group shares from $692.00 to $534.00 in a Monday, June 13 research report. Wells Fargo & Company lowered its price target on SVB Financial Group shares from $900.00 to $810.00 and set an “overweight” rating for the company in a Monday, March 21 report. Morgan Stanley lowered its price target on SVB Financial Group shares from $935.00 to $769.00 and set an “overweight” rating for the company in a Monday, March 28 report. Oppenheimer upgraded SVB Financial Group shares from a “market performer” rating to an “outperformer” rating and set a price target of $702.00 for the company in a Tuesday, May 3, report. Finally, StockNews.com launched coverage on SVB Financial Group shares in a Thursday, March 31 report. They set a “sell” rating for the company. One research analyst rated the stock with a sell rating, seven gave the company a hold rating and fourteen gave the company a buy rating. According to MarketBeat.com, the stock currently has a “Moderate Buy” consensus rating and an average price target of $690.53.

Shares of SIVB opened at $418.63 on Friday. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt ratio of 0.20. The stock has a market capitalization of $24.64 billion, a P/E ratio of 14.21, a growth price/earnings ratio of 1.50 and a beta of 1.83. The company’s fifty-day simple moving average is $444.03 and its two-hundred-day simple moving average is $541.79. SVB Financial Group has a 12-month low of $374.99 and a 12-month high of $763.22.

SVB Financial Group (NASDAQ:SIVB – Get Rating) last released its quarterly results on Thursday, April 21. The bank reported EPS of $7.92 for the quarter, beating consensus analyst estimates of $5.37 from $2.55. The company posted revenue of $1.60 billion for the quarter, versus $1.45 billion expected by analysts. SVB Financial Group achieved a net margin of 28.80% and a return on equity of 15.59%. The company’s quarterly revenue increased by 13.9% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings per share of $10.03. As a group, research analysts expect SVB Financial Group to post EPS of 35.2 for the current fiscal year.

Profile SVB Financial Group (Get a rating)

SVB Financial Group, a diversified financial services company, offers various banking and financial products and services. It operates through four segments: Global Commercial Bank, SVB Private Bank, SVB Capital and SVB Securities. The Global Commercial Bank segment provides commercial banking products and services, including credit, cash management, foreign exchange, trade finance and other financial products and services.

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Want to see what other hedge funds hold SIVB? Visit HoldingsChannel.com for the latest 13F filings and insider trading for SVB Financial Group (NASDAQ:SIVB – Get Rating).

Institutional ownership by quarter for SVB Financial Group (NASDAQ:SIVB)



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