Canada Pension Plan Investment Board Raises Position in SVB Financial Group (SIVB)

Canada Pension Plan Investment Board boosted its stake in shares of SVB Financial Group (NASDAQ:SIVB) by 37.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,100 shares of the bank’s stock after buying an additional 4,900 shares during the period. Canada Pension Plan Investment Board’s holdings in SVB Financial Group were worth $3,182,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of SVB Financial Group by 16,192.8% in the first quarter. BlackRock Inc. now owns 4,539,004 shares of the bank’s stock valued at $844,664,000 after buying an additional 4,511,145 shares during the period. Harbour Capital Advisors LLC raised its position in SVB Financial Group by 17,141.0% in the second quarter. Harbour Capital Advisors LLC now owns 1,389,972 shares of the bank’s stock worth $7,907,000 after buying an additional 1,381,910 shares during the last quarter. Credit Agricole S A raised its position in SVB Financial Group by 924.5% in the first quarter. Credit Agricole S A now owns 1,128,284 shares of the bank’s stock worth $44,547,000 after buying an additional 1,018,151 shares during the last quarter. Vanguard Group Inc. raised its position in SVB Financial Group by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,205,626 shares of the bank’s stock worth $782,624,000 after buying an additional 275,274 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in SVB Financial Group by 109.3% in the first quarter. Wellington Management Group LLP now owns 492,657 shares of the bank’s stock worth $91,678,000 after buying an additional 257,267 shares during the last quarter. 95.52% of the stock is owned by institutional investors and hedge funds.

SVB Financial Group (NASDAQ:SIVB) opened at 169.34 on Friday. The company has a market capitalization of $8.92 billion, a PE ratio of 20.58 and a beta of 1.59. SVB Financial Group has a 52 week low of $103.12 and a 52 week high of $198.83. The stock’s 50 day moving average price is $177.58 and its 200-day moving average price is $180.81.

SVB Financial Group (NASDAQ:SIVB) last released its quarterly earnings results on Thursday, July 27th. The bank reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.05 by $0.27. SVB Financial Group had a net margin of 24.36% and a return on equity of 11.27%. The business had revenue of $471.70 million for the quarter, compared to the consensus estimate of $451.96 million. During the same period in the previous year, the firm earned $1.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, equities research analysts predict that SVB Financial Group will post $8.99 earnings per share for the current fiscal year.

SIVB has been the subject of a number of analyst reports. Barclays PLC reaffirmed a “hold” rating and issued a $188.00 price target on shares of SVB Financial Group in a report on Monday, May 1st. Wedbush reaffirmed a “neutral” rating and issued a $192.00 price target on shares of SVB Financial Group in a report on Tuesday, June 27th. Zacks Investment Research lowered SVB Financial Group from a “buy” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub lowered SVB Financial Group from a “strong-buy” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $212.00 price target on shares of SVB Financial Group in a report on Friday, July 14th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $202.75.

In other news, insider Philip C. Cox sold 3,024 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $182.80, for a total value of $552,787.20. Following the completion of the transaction, the insider now owns 2,872 shares in the company, valued at approximately $525,001.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Descheneaux sold 3,500 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $182.07, for a total transaction of $637,245.00. Following the completion of the transaction, the insider now owns 14,064 shares of the company’s stock, valued at approximately $2,560,632.48. The disclosure for this sale can be found here. Insiders own 0.73% of the company’s stock.

SVB Financial Group Company Profile

SVB Financial Group is a financial services company, as well as a bank holding and a financial holding company. The Company’s segments include Global Commercial Bank, SVB Private Bank and SVB Capital. The Global Commercial Bank segment consists of the operations of its Commercial Bank, and of SVB Wine, SVB Analytics and its Debt Fund Investments.

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