Zacks Investment Research upgraded shares of SEI Investments Company (NASDAQ:SEIC) from a hold rating to a buy rating in a research report sent to investors on Wednesday, July 12th. Zacks Investment Research currently has $61.00 price target on the asset manager’s stock.
According to Zacks, “SEI Investments shares underperformed the Zacks categorized Investment Management industry in the last six months. Persistently increasing expenses are likely to hamper bottom-line growth in the near term. Moreover, the company’s increased exposure to fee-based revenue sources might hurt its financials. However, the company is well positioned for organic growth, given its innovative and diverse global investment products and services. Further, robust asset growth and the acquisition of Archway Technology Partners are expected to support profitability. Also, the company's enhanced capital deployment activities boost investors’ confidence in the stock.”
A number of other analysts have also weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $54.00 price target on shares of SEI Investments in a research note on Friday, June 23rd. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of SEI Investments in a research note on Thursday, April 20th. Mizuho started coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They issued a buy rating and a $60.00 price target for the company. BidaskClub lowered shares of SEI Investments from a strong-buy rating to a buy rating in a research note on Thursday, June 22nd. Finally, Oppenheimer Holdings, Inc. upped their price target on shares of SEI Investments from $55.00 to $60.00 and gave the stock an outperform rating in a research note on Tuesday, July 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $59.75.
Shares of SEI Investments (NASDAQ:SEIC) traded down 0.39% on Wednesday, reaching $56.18. 298,935 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $54.90 and its 200-day moving average price is $51.78. SEI Investments has a 1-year low of $42.90 and a 1-year high of $57.50. The company has a market capitalization of $8.88 billion, a P/E ratio of 25.76 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The company had revenue of $372.30 million during the quarter, compared to analyst estimates of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.49 EPS. Analysts anticipate that SEI Investments will post $2.28 EPS for the current fiscal year.
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In other news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $56.40, for a total transaction of $5,640,000.00. Following the sale, the insider now owns 10,836,282 shares in the company, valued at $611,166,304.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $56.06, for a total transaction of $2,803,000.00. Following the sale, the insider now owns 10,736,282 shares in the company, valued at approximately $601,875,968.92. The disclosure for this sale can be found here. Insiders sold a total of 372,500 shares of company stock worth $20,395,277 over the last quarter. Insiders own 17.10% of the company’s stock.
Several large investors have recently added to or reduced their stakes in SEIC. DnB Asset Management AS purchased a new stake in SEI Investments during the first quarter worth about $638,000. Louisiana State Employees Retirement System raised its stake in SEI Investments by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the asset manager’s stock worth $1,705,000 after buying an additional 600 shares in the last quarter. Fox Run Management L.L.C. purchased a new stake in SEI Investments during the first quarter worth about $474,000. Parametrica Management Ltd purchased a new stake in SEI Investments during the first quarter worth about $204,000. Finally, Gulf International Bank UK Ltd raised its stake in SEI Investments by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 42,651 shares of the asset manager’s stock worth $2,151,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 70.07% of the company’s stock.
About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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