BlackRock Inc. Has $723.23 Million Holdings in SEI Investments Company (SEIC)
BlackRock Inc. raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 5.5% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 13,447,854 shares of the asset manager’s stock after purchasing an additional 697,125 shares during the period. BlackRock Inc. owned approximately 8.51% of SEI Investments worth $723,225,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Nationwide Fund Advisors boosted its stake in SEI Investments by 34.8% during the 2nd quarter. Nationwide Fund Advisors now owns 643,781 shares of the asset manager’s stock valued at $34,623,000 after purchasing an additional 166,110 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in SEI Investments by 4.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 606,425 shares of the asset manager’s stock valued at $32,614,000 after purchasing an additional 26,126 shares during the last quarter. Teachers Advisors LLC boosted its stake in SEI Investments by 12.4% during the 2nd quarter. Teachers Advisors LLC now owns 142,025 shares of the asset manager’s stock valued at $7,638,000 after purchasing an additional 15,695 shares during the last quarter. Seven Eight Capital LP acquired a new position in SEI Investments during the 2nd quarter valued at about $403,000. Finally, Riverhead Capital Management LLC boosted its stake in SEI Investments by 57.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 12,920 shares of the asset manager’s stock valued at $695,000 after purchasing an additional 4,720 shares during the last quarter. Institutional investors and hedge funds own 68.65% of the company’s stock.
SEI Investments Company (NASDAQ SEIC) opened at 59.07 on Thursday. The stock has a 50 day moving average price of $56.76 and a 200-day moving average price of $53.36. SEI Investments Company has a 52 week low of $43.54 and a 52 week high of $59.17. The stock has a market cap of $9.34 billion, a P/E ratio of 27.08 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $369.88 million. During the same quarter last year, the firm earned $0.49 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, equities analysts anticipate that SEI Investments Company will post $2.28 EPS for the current fiscal year.
A number of equities analysts have issued reports on SEIC shares. Mizuho started coverage on SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target for the company. BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research downgraded SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $58.00 price target on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, Oppenheimer Holdings, Inc. lifted their price target on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 11th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.75.
In other news, insider Dennis Mcgonigle sold 15,000 shares of the stock in a transaction that occurred on 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 owns 612,034 shares in the company, valued at $34,488,115.90. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William Doran sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total transaction of $574,900.00. Following the sale, the director now owns 671,015 shares in the company, valued at approximately $38,576,652.35. The disclosure for this sale can be found here. In the last quarter, insiders have sold 255,000 shares of company stock worth $14,350,650. Corporate insiders own 16.50% of the company’s stock.
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SEI Investments 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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