Cetera Advisor Networks LLC lessened its position in shares of SEI Investments (NASDAQ:SEIC) by 33.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,279 shares of the asset manager’s stock after selling 2,104 shares during the quarter. Cetera Advisor Networks LLC’s holdings in SEI Investments were worth $246,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in SEIC. FMR LLC increased its position in shares of SEI Investments by 19.9% during the first quarter. FMR LLC now owns 211,097 shares of the asset manager’s stock worth $11,030,000 after buying an additional 35,067 shares during the period. First Trust Advisors LP acquired a new stake in SEI Investments during the 1st quarter worth about $1,155,000. Sei Investments Co. raised its position in shares of SEI Investments by 154.7% in the 3rd quarter. Sei Investments Co. now owns 7,702,483 shares of the asset manager’s stock worth $390,670,000 after acquiring an additional 4,678,725 shares in the last quarter. US Bancorp DE lifted its stake in shares of SEI Investments by 10.1% in the 3rd quarter. US Bancorp DE now owns 2,208 shares of the asset manager’s stock valued at $112,000 after purchasing an additional 203 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of SEI Investments by 19.9% during the 3rd quarter. Squarepoint Ops LLC now owns 19,437 shares of the asset manager’s stock valued at $986,000 after purchasing an additional 3,229 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.
Several equities analysts have issued reports on the company. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, January 29th. Raymond James restated a “hold” rating on shares of SEI Investments in a report on Monday, January 11th. The Goldman Sachs Group assumed coverage on shares of SEI Investments in a report on Wednesday, January 6th. They set a “buy” rating and a $70.50 price objective on the stock. Finally, Morgan Stanley raised their target price on SEI Investments from $74.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, April 1st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $63.10.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Tuesday, January 26th. The asset manager reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. SEI Investments had a return on equity of 26.05% and a net margin of 27.06%. The firm had revenue of $443.72 million during the quarter, compared to the consensus estimate of $435.34 million. During the same period in the prior year, the business posted $0.84 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts predict that SEI Investments will post 2.94 earnings per share for the current year.
In other SEI Investments news, EVP Wayne Withrow sold 5,000 shares of the company’s stock in a transaction dated Friday, March 5th. The shares were sold at an average price of $57.98, for a total value of $289,900.00. Following the completion of the sale, the executive vice president now directly owns 40,874 shares of the company’s stock, valued at approximately $2,369,874.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alfred P. West, Jr. sold 54,043 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $58.20, for a total transaction of $3,145,302.60. Following the completion of the sale, the insider now owns 9,356,566 shares of the company’s stock, valued at approximately $544,552,141.20. The disclosure for this sale can be found here. Insiders sold a total of 109,994 shares of company stock valued at $6,373,795 over the last three months. 23.86% of the stock is currently owned by insiders.
SEI Investments Company Profile
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
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