SEI Investments Company (SEIC) Major Shareholder Sells $2,797,000.00 in Stock
SEI Investments Company (NASDAQ:SEIC) major shareholder Alfred P. West, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $55.94, for a total transaction of $2,797,000.00. Following the transaction, the insider now directly owns 10,686,282 shares in the company, valued at $597,790,615.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Shares of SEI Investments Company (NASDAQ SEIC) traded down 0.14% during trading on Tuesday, hitting $56.32. 108,126 shares of the stock were exchanged. The company has a market cap of $8.90 billion, a P/E ratio of 25.82 and a beta of 1.33. The firm’s 50-day moving average is $54.72 and its 200 day moving average is $51.69. SEI Investments Company has a 1-year low of $42.90 and a 1-year high of $57.50.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. During the same quarter in the previous year, the business earned $0.49 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities analysts forecast that SEI Investments Company will post $2.28 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in SEIC. Pacer Advisors Inc. increased 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 worth $125,000 after buying an additional 77 shares during the last quarter. Suntrust Banks Inc. increased its position in shares of SEI Investments by 1.1% in the first quarter. Suntrust Banks Inc. now owns 8,061 shares of the asset manager’s stock worth $405,000 after buying an additional 88 shares during the last quarter. Utah Retirement Systems increased its position in shares of SEI Investments by 0.4% in the first quarter. Utah Retirement Systems now owns 23,388 shares of the asset manager’s stock worth $1,179,000 after buying an additional 100 shares during the last quarter. Mosaic Family Wealth LLC increased 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 worth $150,000 after buying an additional 103 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its position in shares of SEI Investments by 2.6% in the second quarter. Gateway Investment Advisers LLC now owns 4,559 shares of the asset manager’s stock worth $245,000 after buying an additional 114 shares during the last quarter. 70.07% of the stock is currently owned by hedge funds and other institutional investors.
SEIC has been the subject of a number of analyst reports. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. boosted their price objective 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. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Wednesday, July 12th. Finally, Mizuho initiated coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target 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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