SEI Investments Company (SEIC) Given Consensus Recommendation of “Buy” by Analysts
SEI Investments Company (NASDAQ:SEIC) has been given a consensus recommendation of “Buy” by the six research firms that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $61.67.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday. Oppenheimer Holdings, Inc. boosted their target price on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research report on Sunday, September 3rd. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Mizuho assumed coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 target price on the stock.
In related news, Director William Doran sold 10,000 shares of SEI Investments stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the completion of the sale, the director now owns 671,015 shares in the company, valued at $38,576,652.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Alfred P. West, Jr. sold 100,000 shares of SEI Investments stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $56.40, for a total transaction of $5,640,000.00. Following the completion of the sale, the insider now owns 10,836,282 shares of the company’s stock, valued at approximately $611,166,304.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 325,000 shares of company stock valued at $18,540,250. Insiders own 16.50% of the company’s stock.
Several large investors have recently modified their holdings of SEIC. BlackRock Inc. increased its stake in shares of SEI Investments by 3,644.6% in the first quarter. BlackRock Inc. now owns 12,750,729 shares of the asset manager’s stock worth $643,148,000 after buying an additional 12,410,221 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of SEI Investments by 47.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after buying an additional 615,539 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of SEI Investments by 4.8% in the first quarter. Vanguard Group Inc. now owns 12,903,413 shares of the asset manager’s stock worth $650,849,000 after buying an additional 595,691 shares during the last quarter. Balyasny Asset Management LLC increased its stake in shares of SEI Investments by 386.9% in the second quarter. Balyasny Asset Management LLC now owns 286,738 shares of the asset manager’s stock worth $15,421,000 after buying an additional 227,849 shares during the last quarter. Finally, JLB & Associates Inc. bought a new stake in shares of SEI Investments in the second quarter worth $11,631,000. Institutional investors and hedge funds own 68.65% of the company’s stock.
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Shares of SEI Investments (NASDAQ:SEIC) traded up 0.19% during midday trading on Friday, hitting $62.78. 490,082 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $58.56 and its 200-day moving average is $54.20. The stock has a market cap of $9.93 billion, a PE ratio of 28.78 and a beta of 1.35. SEI Investments has a 1-year low of $43.54 and a 1-year high of $62.90.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, topping analysts’ consensus estimates 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 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts predict that SEI Investments will post $2.28 earnings per share for the current fiscal year.
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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