SEI Investments Company (SEIC) Given Average Rating of “Buy” by Brokerages
Shares of SEI Investments Company (NASDAQ:SEIC) have been assigned an average recommendation of “Buy” from the six ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $59.75.
A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $58.00 price target on shares of SEI Investments in a research report on Thursday, July 27th. BidaskClub downgraded shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. lifted their price target on shares of SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 11th. Finally, Mizuho assumed coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target for the company.
In other news, insider Paul Klauder sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $53.56, for a total transaction of $401,700.00. Following the completion of the transaction, the insider now directly owns 21,629 shares of the company’s stock, valued at approximately $1,158,449.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Doran sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $52.40, for a total transaction of $262,000.00. Following the transaction, the director now directly owns 681,015 shares of the company’s stock, valued at $35,685,186. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 382,500 shares of company stock valued at $20,982,527. Insiders own 17.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SEIC. Mn Services Vermogensbeheer B.V. boosted its position in shares of SEI Investments by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,627 shares of the asset manager’s stock worth $171,000 after buying an additional 133 shares during the period. Northwest Investment Counselors LLC boosted its position in shares of SEI Investments by 1.6% in the first quarter. Northwest Investment Counselors LLC now owns 14,040 shares of the asset manager’s stock worth $708,000 after buying an additional 221 shares during the period. Wagner Bowman Management Corp acquired a new position in shares of SEI Investments during the first quarter worth $201,000. Retirement Systems of Alabama boosted its position in shares of SEI Investments by 4.6% in the first quarter. Retirement Systems of Alabama now owns 357,318 shares of the asset manager’s stock worth $18,023,000 after buying an additional 15,862 shares during the period. Finally, Hermes Investment Management Ltd. boosted its position in shares of SEI Investments by 2.8% in the first quarter. Hermes Investment Management Ltd. now owns 654,562 shares of the asset manager’s stock worth $33,016,000 after buying an additional 17,573 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.
SEI Investments (NASDAQ SEIC) traded up 0.22% during midday trading on Friday, reaching $55.82. The company’s stock had a trading volume of 594,256 shares. SEI Investments has a 52 week low of $42.90 and a 52 week high of $57.50. The firm has a market capitalization of $8.83 billion, a P/E ratio of 25.59 and a beta of 1.33. The company’s 50-day moving average is $55.61 and its 200 day moving average is $52.17.
SEI Investments (NASDAQ:SEIC) last posted 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 company had revenue of $372.30 million during the quarter, compared to the consensus estimate of $369.88 million. During the same period last year, the firm earned $0.49 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that SEI Investments will post $2.28 earnings per share for the current fiscal year.
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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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