Fred Alger Management LLC Decreases Position in SVB Financial Group (NASDAQ:SIVB)

Fred Alger Management LLC cut its stake in SVB Financial Group (NASDAQ:SIVB – Get Rating) by 89.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,897 shares of the bank’s stock after selling 175,757 shares during the quarter. Fred Alger Management LLC’s holdings in SVB Financial Group were worth $6,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA lifted its stake in SVB Financial Group by 107.8% in the 3rd quarter. Private Trust Co. NA now owns 106 shares of the bank’s stock valued at $36,000 after buying an additional 55 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in SVB Financial Group by 100.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 72 shares of the bank’s stock valued at $40,000 after buying an additional 36 shares in the last quarter. Twin Lakes Capital Management LLC purchased a new position in SVB Financial Group in the 3rd quarter valued at about $42,000. SeaCrest Wealth Management LLC purchased a new position in SVB Financial Group in the 2nd quarter valued at about $43,000. Finally, NuWave Investment Management LLC acquired a new stake in SVB Financial Group in the 3rd quarter valued at about $51,000. 92.35% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Morgan Stanley increased their price objective on shares of SVB Financial Group from $186.00 to $190.00 and gave the company an “underweight” rating in a report on Thursday, December 15th. Wells Fargo & Company cut their price objective on shares of SVB Financial Group from $350.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, March 9th. Wedbush cut their price objective on shares of SVB Financial Group from $250.00 to $200.00 and set a “neutral” rating for the company in a report on Thursday, March 9th. StockNews.com upgraded shares of SVB Financial Group to a “sell” rating in a report on Monday, February 27th. Finally, Wolfe Research downgraded shares of SVB Financial Group from an “outperform” rating to a “peer perform” rating in a report on Friday, March 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, SVB Financial Group currently has an average rating of “Hold” and an average price target of $348.47.

Insider Activity at SVB Financial Group

In related news, CEO Gregory W. Becker sold 12,451 shares of SVB Financial Group stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $287.42, for a total value of $3,578,666.42. Following the completion of the sale, the chief executive officer now owns 92,552 shares in the company, valued at approximately $26,601,295.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SVB Financial Group news, CEO Gregory W. Becker sold 12,451 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $287.42, for a total value of $3,578,666.42. Following the completion of the transaction, the chief executive officer now owns 92,552 shares of the company’s stock, valued at approximately $26,601,295.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Daniel J. Beck sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $287.59, for a total transaction of $575,180.00. Following the completion of the transaction, the chief financial officer now directly owns 4,207 shares of the company’s stock, valued at approximately $1,209,891.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,004 shares of company stock worth $5,016,701. Insiders own 0.62% of the company’s stock.

SVB Financial Group Price Performance

SVB Financial Group stock opened at $106.04 on Wednesday. SVB Financial Group has a fifty-two week low of $39.40 and a fifty-two week high of $597.16. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.48 and a current ratio of 0.48. The firm has a 50 day moving average price of $272.12 and a 200 day moving average price of $279.83. The company has a market capitalization of $6.28 billion, a PE ratio of 4.18 and a beta of 1.57.

SVB Financial Group (NASDAQ:SIVB – Get Rating) last posted its earnings results on Thursday, January 19th. The bank reported $4.62 earnings per share for the quarter, missing the consensus estimate of $5.26 by ($0.64). SVB Financial Group had a net margin of 22.05% and a return on equity of 13.02%. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $6.22 EPS. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. Research analysts expect that SVB Financial Group will post 17.76 earnings per share for the current year.

SVB Financial Group Company Profile

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SVB Financial Group is a holding company, which engages in the provision of banking and financial services. It operates through the following segments: Global Commercial Bank, SVB Private Bank, SVB Capital, and SVB Leerink. The Global Commercial Bank segment consists of results from the commercial bank, private equity division, SVB wine, SVB analytics, and debt fund investments.