Shares of SEI Investments Company (NASDAQ:SEIC) have been given a consensus recommendation of “Buy” by the six brokerages that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $59.75.
SEIC has been the topic of several research reports. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of SEI Investments in a report on Thursday, April 20th. Mizuho initiated coverage on shares of SEI Investments in a report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price objective on the stock. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, April 21st. Finally, Oppenheimer Holdings, Inc. upped their price objective on shares of SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 11th.
Shares of SEI Investments (NASDAQ:SEIC) traded down 0.39% on Monday, hitting $56.18. The stock had a trading volume of 298,935 shares. SEI Investments has a 1-year low of $42.90 and a 1-year high of $57.50. The firm’s 50-day moving average is $54.90 and its 200 day moving average is $51.78. The stock has a market cap of $8.88 billion, a P/E ratio of 25.76 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.02. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The firm had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that SEI Investments will post $2.28 EPS for the current year.
In other news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the 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 completion of the transaction, the insider now directly owns 10,836,282 shares of the company’s stock, valued at approximately $611,166,304.80. The transaction was disclosed in a legal filing 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 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 transaction, the insider now directly owns 10,736,282 shares of the company’s stock, valued at $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 in the last 90 days. 17.10% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in SEIC. Russell Investments Group Ltd. acquired a new stake in shares of SEI Investments during the fourth quarter worth approximately $1,139,000. FMR LLC boosted its stake in shares of SEI Investments by 23.0% in the fourth quarter. FMR LLC now owns 240,850 shares of the asset manager’s stock worth $11,889,000 after buying an additional 45,074 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in shares of SEI Investments during the fourth quarter worth approximately $2,933,000. UBS Asset Management Americas Inc. boosted its stake in shares of SEI Investments by 107.7% in the fourth quarter. UBS Asset Management Americas Inc. now owns 685,000 shares of the asset manager’s stock worth $33,811,000 after buying an additional 355,130 shares during the last quarter. Finally, Teachers Advisors LLC boosted its stake in shares of SEI Investments by 5.3% in the fourth quarter. Teachers Advisors LLC now owns 122,376 shares of the asset manager’s stock worth $6,040,000 after buying an additional 6,204 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.
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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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