SEI Investments Company (NASDAQ:SEIC) Major Shareholder Sells $2,803,000.00 in Stock
SEI Investments Company (NASDAQ:SEIC) major shareholder Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $56.06, for a total value of $2,803,000.00. Following the completion of the sale, the insider now directly owns 10,736,282 shares in the company, valued at approximately $601,875,968.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Shares of SEI Investments Company (NASDAQ:SEIC) traded down 0.14% during midday trading on Tuesday, hitting $56.32. The stock had a trading volume of 108,126 shares. SEI Investments Company has a 52-week low of $42.90 and a 52-week high of $57.50. The company has a market cap of $8.90 billion, a PE ratio of 25.82 and a beta of 1.33. The company’s 50 day moving average is $54.72 and its 200 day moving average is $51.69.
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 the consensus estimate of $0.55 by $0.02. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The firm had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts anticipate that SEI Investments Company will post $2.28 earnings per share for the current year.
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Large investors have recently modified their holdings of the company. Van ECK Associates Corp increased its stake in shares of SEI Investments by 6.5% in the first quarter. Van ECK Associates Corp now owns 2,222 shares of the asset manager’s stock valued at $112,000 after buying an additional 136 shares during the last quarter. First Mercantile Trust Co. boosted its position in shares of SEI Investments by 165.6% in the first quarter. First Mercantile Trust Co. now owns 2,404 shares of the asset manager’s stock valued at $121,000 after buying an additional 1,499 shares during the period. Pacer Advisors Inc. boosted its position in shares of SEI Investments by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,472 shares of the asset manager’s stock valued at $125,000 after buying an additional 77 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of SEI Investments by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 2,976 shares of the asset manager’s stock valued at $150,000 after buying an additional 103 shares during the period. Finally, Quantbot Technologies LP purchased a new position in shares of SEI Investments during the first quarter valued at about $159,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.
A number of equities analysts recently weighed in on the company. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Mizuho assumed coverage on SEI Investments in a report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price objective on the stock. Raymond James Financial, Inc. reissued a “market perform” rating on shares of SEI Investments in a report on Thursday, April 20th. Oppenheimer Holdings, Inc. raised their price objective on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 11th. Finally, Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, July 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $59.75.
SEI Investments Company Profile
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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