SEI Investments Company (SEIC) Lowered to Buy at BidaskClub

BidaskClub lowered shares of SEI Investments Company (NASDAQ:SEIC) from a strong-buy rating to a buy rating in a report issued on Monday, July 31st.

A number of other research firms have also recently weighed in on SEIC. Keefe, Bruyette & Woods reiterated a hold rating and set a $58.00 price objective on shares of SEI Investments in a research report on Thursday, July 27th. Zacks Investment Research raised shares of SEI Investments from a hold rating to a buy rating and set a $61.00 target price for the company in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. boosted their target price on shares of SEI Investments from $55.00 to $60.00 and gave the company an outperform rating in a research note on Tuesday, July 11th. Mizuho initiated coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They set a buy rating and a $60.00 target price for the company. Finally, Raymond James Financial, Inc. reissued a market perform rating on shares of SEI Investments in a research note on Thursday, April 20th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $59.75.

Shares of SEI Investments (NASDAQ SEIC) traded up 0.22% during midday trading on Monday, reaching $55.82. 594,256 shares of the company’s stock traded hands. The company has a 50-day moving average of $55.67 and a 200-day moving average of $52.22. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of 25.59 and a beta of 1.33. SEI Investments has a one year low of $42.90 and a one year high of $57.50.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share 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 analysts’ expectations of $369.88 million. During the same quarter in the previous year, the business posted $0.49 earnings per share. The business’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments will post $2.28 EPS for the current year.

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In related news, major shareholder Alfred P. West, Jr. sold 84,116 shares of the company’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $51.92, for a total value of $4,367,302.72. Following the completion of the sale, the insider now directly owns 10,952,166 shares of the company’s stock, valued at $568,636,458.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director William Doran sold 5,000 shares of the company’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $52.40, for a total transaction of $262,000.00. Following the completion of the sale, 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. Insiders have sold 382,500 shares of company stock valued at $20,982,527 over the last three months. Insiders own 17.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in SEI Investments by 6.5% in the first quarter. Van ECK Associates Corp now owns 2,222 shares of the asset manager’s stock worth $112,000 after buying an additional 136 shares during the period. First Mercantile Trust Co. raised its stake in SEI Investments by 165.6% in the first quarter. First Mercantile Trust Co. now owns 2,404 shares of the asset manager’s stock worth $121,000 after buying an additional 1,499 shares during the period. Pacer Advisors Inc. raised its stake in 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 period. Mosaic Family Wealth LLC raised its stake in 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 period. Finally, Quantbot Technologies LP acquired a new stake in SEI Investments during the first quarter worth $159,000. 68.58% of the stock is owned by institutional investors.

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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