SEI Investments Company (NASDAQ:SEIC) Receives Average Rating of “Buy” from Brokerages
Shares of SEI Investments Company (NASDAQ:SEIC) have received an average rating of “Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $58.75.
Several research firms have weighed in on SEIC. BidaskClub upgraded SEI Investments from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. raised their price target on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 11th. Mizuho began coverage on SEI Investments in a report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target for the company. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $54.00 price target on shares of SEI Investments in a report on Friday, June 23rd.
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In other SEI Investments news, Director Carmen Romeo sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $50.92, for a total transaction of $509,200.00. Following the completion of the transaction, the director now owns 1,595,952 shares in the company, valued at approximately $81,265,875.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Joseph P. Ujobai sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $53.70, for a total value of $1,342,500.00. Following the transaction, the insider now owns 37,540 shares of the company’s stock, valued at approximately $2,015,898. The disclosure for this sale can be found here. Insiders have sold a total of 357,500 shares of company stock valued at $18,403,277 in the last 90 days. 17.10% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the company. Loomis Sayles & Co. L P boosted its position in shares of SEI Investments by 1.2% in the first quarter. Loomis Sayles & Co. L P now owns 14,210,594 shares of the asset manager’s stock worth $716,782,000 after buying an additional 163,767 shares during the period. Vanguard Group Inc. boosted its position in shares of SEI Investments by 4.8% in the first quarter. Vanguard Group Inc. now owns 12,903,413 shares of the asset manager’s stock worth $650,849,000 after buying an additional 595,691 shares during the period. BlackRock Inc. boosted its position in shares of SEI Investments by 3,644.6% in the first quarter. BlackRock Inc. now owns 12,750,729 shares of the asset manager’s stock worth $643,148,000 after buying an additional 12,410,221 shares during the period. Boston Partners boosted its position in shares of SEI Investments by 12.8% in the first quarter. Boston Partners now owns 2,990,529 shares of the asset manager’s stock worth $150,843,000 after buying an additional 339,121 shares during the period. Finally, Parnassus Investments CA boosted its position in shares of SEI Investments by 16.6% in the first quarter. Parnassus Investments CA now owns 1,300,000 shares of the asset manager’s stock worth $65,572,000 after buying an additional 185,000 shares during the period. Hedge funds and other institutional investors own 69.46% of the company’s stock.
Shares of SEI Investments (NASDAQ:SEIC) traded up 1.29% on Monday, hitting $56.54. The stock had a trading volume of 448,018 shares. SEI Investments has a 52 week low of $42.12 and a 52 week high of $56.58. The stock has a market capitalization of $8.97 billion, a P/E ratio of 26.80 and a beta of 1.33. The firm has a 50-day moving average price of $53.65 and a 200-day moving average price of $51.38.
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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