William Blair Analysts Lift Earnings Estimates for SEI Investments Company (SEIC)
SEI Investments Company (NASDAQ:SEIC) – Investment analysts at William Blair lifted their Q3 2017 earnings per share (EPS) estimates for shares of SEI Investments in a report released on Thursday. William Blair analyst C. Shutler now forecasts that the asset manager will earn $0.58 per share for the quarter, up from their previous forecast of $0.57. William Blair also issued estimates for SEI Investments’ Q4 2017 earnings at $0.61 EPS, FY2017 earnings at $2.30 EPS, Q1 2018 earnings at $0.65 EPS, Q2 2018 earnings at $0.67 EPS, Q3 2018 earnings at $0.69 EPS, Q4 2018 earnings at $0.72 EPS and FY2018 earnings at $2.72 EPS.
Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a report on Thursday, July 27th. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a 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 objective on the stock in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. raised their price objective on shares of SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 11th. Finally, Mizuho assumed 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. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. SEI Investments currently has a consensus rating of “Buy” and a consensus target price of $61.50.
SEI Investments (NASDAQ SEIC) opened at 63.93 on Friday. The stock’s 50 day moving average is $59.37 and its 200 day moving average is $54.57. The stock has a market capitalization of $10.11 billion, a PE ratio of 29.31 and a beta of 1.35. SEI Investments has a 12-month low of $43.63 and a 12-month high of $64.03.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 EPS 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 business had revenue of $372.30 million for the quarter, compared to analysts’ expectations of $369.88 million. During the same period in the previous year, the company posted $0.49 EPS. SEI Investments’s revenue was up 8.3% on a year-over-year basis.
A number of institutional investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC grew its position in SEI Investments by 13.3% in the second quarter. Lord Abbett & CO. LLC now owns 252,900 shares of the asset manager’s stock valued at $13,601,000 after purchasing an additional 29,700 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its position in SEI Investments by 212.9% in the second quarter. Dynamic Technology Lab Private Ltd now owns 13,960 shares of the asset manager’s stock valued at $750,000 after purchasing an additional 9,499 shares in the last quarter. Wasatch Advisors Inc. grew its position in SEI Investments by 5.4% in the second quarter. Wasatch Advisors Inc. now owns 612,621 shares of the asset manager’s stock valued at $32,947,000 after purchasing an additional 31,381 shares in the last quarter. Verition Fund Management LLC grew its position in SEI Investments by 72.2% in the second quarter. Verition Fund Management LLC now owns 15,462 shares of the asset manager’s stock valued at $832,000 after purchasing an additional 6,482 shares in the last quarter. Finally, BB&T Investment Services Inc. bought a new position in SEI Investments in the second quarter valued at $474,000. 68.65% of the stock is owned by institutional investors and hedge funds.
In related news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $56.40, for a total value of $5,640,000.00. Following the completion of the transaction, the insider now owns 10,836,282 shares of the company’s stock, valued at $611,166,304.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen Meyer sold 20,000 shares of the firm’s stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the completion of the transaction, the insider now directly owns 113,224 shares of the company’s stock, valued at approximately $6,964,408.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325,000 shares of company stock valued at $18,540,250. 16.50% of the stock is owned by insiders.
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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