Municipal Employees Retirement System of Michigan reduced its position in SEI Investments Company (NASDAQ:SEIC) by 17.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,460 shares of the asset manager’s stock after selling 10,820 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in SEI Investments were worth $2,768,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. ING Groep NV purchased a new position in SEI Investments during the second quarter worth approximately $872,000. Acadian Asset Management LLC increased its stake in SEI Investments by 35.0% in the second quarter. Acadian Asset Management LLC now owns 41,064 shares of the asset manager’s stock worth $2,208,000 after buying an additional 10,642 shares during the last quarter. Wellington Shields & Co. LLC bought a new stake in SEI Investments during the second quarter worth about $645,000. Russell Investments Group Ltd. increased its stake in SEI Investments by 3.4% in the second quarter. Russell Investments Group Ltd. now owns 84,725 shares of the asset manager’s stock worth $4,557,000 after buying an additional 2,819 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in SEI Investments during the second quarter worth about $372,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Company (SEIC) opened at 55.82 on Friday. SEI Investments Company has a 12-month low of $42.90 and a 12-month high of $57.50. The stock’s 50 day moving average is $55.67 and its 200-day moving average is $52.22. The company has a market cap of $8.83 billion, a P/E ratio of 25.59 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share. Analysts predict that SEI Investments Company will post $2.28 earnings per share for the current fiscal year.
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A number of equities research analysts have issued reports on the stock. BidaskClub downgraded shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research report on Thursday, July 27th. Zacks Investment Research upgraded 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 report on Wednesday, July 12th. Oppenheimer Holdings, Inc. increased their target price on shares of SEI Investments from $55.00 to $60.00 and gave the stock 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 issued a “buy” rating and a $60.00 target price for the company. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $59.75.
In other SEI Investments news, insider Dennis Mcgonigle sold 15,000 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $56.35, for a total transaction of $845,250.00. Following the sale, the insider now directly owns 612,034 shares in the company, valued at $34,488,115.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William Doran sold 5,000 shares of the 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 sale, the director now owns 681,015 shares in the company, valued at $35,685,186. The disclosure for this sale can be found here. Insiders have sold 382,500 shares of company stock worth $20,982,527 over the last quarter. Corporate insiders own 17.10% of the company’s stock.
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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