Robeco Institutional Asset Management B.V. Has $8.72 Million Holdings in SVB Financial Group (SIVB)
Robeco Institutional Asset Management B.V. cut its stake in SVB Financial Group (NASDAQ:SIVB) by 5.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,204 shares of the bank’s stock after selling 1,733 shares during the quarter. Robeco Institutional Asset Management B.V. owned approximately 0.06% of SVB Financial Group worth $8,722,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in SIVB. Bank of Montreal Can acquired a new position in SVB Financial Group in the second quarter valued at approximately $96,584,000. Millennium Management LLC lifted its holdings in SVB Financial Group by 175.1% in the first quarter. Millennium Management LLC now owns 399,256 shares of the bank’s stock valued at $95,825,000 after acquiring an additional 254,116 shares during the period. Guggenheim Capital LLC lifted its holdings in SVB Financial Group by 566.7% in the first quarter. Guggenheim Capital LLC now owns 220,949 shares of the bank’s stock valued at $53,029,000 after acquiring an additional 187,808 shares during the period. Atlantic Trust Group LLC acquired a new position in SVB Financial Group in the first quarter valued at approximately $38,938,000. Finally, KBC Group NV lifted its holdings in SVB Financial Group by 2,976.4% in the second quarter. KBC Group NV now owns 150,096 shares of the bank’s stock valued at $43,342,000 after acquiring an additional 145,217 shares during the period. 90.56% of the stock is owned by institutional investors.
Shares of SIVB stock opened at $321.41 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.60 and a quick ratio of 0.60. The company has a market cap of $16.86 billion, a PE ratio of 32.43, a price-to-earnings-growth ratio of 1.68 and a beta of 1.49. SVB Financial Group has a 1-year low of $159.44 and a 1-year high of $333.74.
In related news, Director Kate Mitchell sold 737 shares of the business’s stock in a transaction that occurred on Wednesday, May 30th. The stock was sold at an average price of $314.78, for a total transaction of $231,992.86. Following the completion of the sale, the director now directly owns 7,949 shares in the company, valued at $2,502,186.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gregory W. Becker sold 12,872 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The stock was sold at an average price of $310.97, for a total value of $4,002,805.84. Following the sale, the insider now owns 18,039 shares of the company’s stock, valued at $5,609,587.83. The disclosure for this sale can be found here. Insiders have sold 21,109 shares of company stock valued at $6,664,724 over the last quarter. 0.74% of the stock is owned by company insiders.
Several research analysts have recently weighed in on the company. BidaskClub downgraded SVB Financial Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 26th. Wells Fargo & Co upped their target price on SVB Financial Group from $325.00 to $335.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 26th. DA Davidson upped their target price on SVB Financial Group from $285.00 to $315.00 and gave the stock a “neutral” rating in a research note on Monday, April 30th. JPMorgan Chase & Co. upped their target price on SVB Financial Group from $345.00 to $375.00 and gave the stock an “overweight” rating in a research note on Monday, June 11th. They noted that the move was a valuation call. Finally, Maxim Group upped their target price on SVB Financial Group to $365.00 and gave the stock a “buy” rating in a research note on Monday, July 30th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $352.94.
About SVB Financial Group
SVB Financial Group, a diversified financial services company, provides various banking and financial products and services. Its 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 card account analysis, and disbursement, as well as online and mobile banking services.
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