SEI Investments Company (SEIC) PT Raised to $67.00
SEI Investments Company (NASDAQ:SEIC) had its price target lifted by Oppenheimer Holdings, Inc. from $60.00 to $67.00 in a research report issued to clients and investors on Thursday. The brokerage currently has an “outperform” rating on the asset manager’s stock. Oppenheimer Holdings, Inc.’s price objective would indicate a potential upside of 9.73% from the company’s current price. Oppenheimer Holdings also issued estimates for SEI Investments’ FY2017 earnings at $2.28 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.64 EPS, Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.63 EPS and FY2019 earnings at $2.97 EPS.
Several other equities research analysts have also issued reports on SEIC. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price target on shares of SEI Investments in a report on Thursday, July 27th. BidaskClub raised shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a report on Wednesday, July 12th. Finally, Mizuho assumed coverage on shares of SEI Investments in a report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target on the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $61.50.
Shares of SEI Investments (SEIC) traded down 0.73% during trading on Thursday, hitting $61.06. 667,810 shares of the stock were exchanged. The firm has a market capitalization of $9.65 billion, a P/E ratio of 28.00 and a beta of 1.33. The firm has a 50 day moving average price of $56.76 and a 200 day moving average price of $53.36. SEI Investments has a 52 week low of $43.54 and a 52 week high of $61.50.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The company had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. Analysts forecast that SEI Investments will post $2.28 EPS for the current fiscal year.
In other news, Director William Doran sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 671,015 shares in the company, valued at approximately $38,576,652.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider N Jeffrey Klauder sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $56.35, for a total transaction of $1,690,500.00. Following the completion of the transaction, the insider now owns 82,194 shares in the company, valued at approximately $4,631,631.90. The disclosure for this sale can be found here. Insiders sold a total of 305,000 shares of company stock worth $17,310,050 in the last 90 days. Corporate insiders own 16.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SEIC. Russell Investments Group Ltd. lifted its position in shares of SEI Investments by 254.9% in the 1st quarter. Russell Investments Group Ltd. now owns 81,906 shares of the asset manager’s stock worth $4,132,000 after purchasing an additional 58,830 shares during the period. First Trust Advisors LP acquired a new position in shares of SEI Investments in the 1st quarter worth approximately $713,000. UBS Asset Management Americas Inc. lifted its position in shares of SEI Investments by 2.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 702,422 shares of the asset manager’s stock worth $35,430,000 after purchasing an additional 17,422 shares during the period. Karp Capital Management Corp acquired a new position in shares of SEI Investments in the 1st quarter worth approximately $1,367,000. Finally, TD Asset Management Inc. lifted its position in shares of SEI Investments by 7.4% in the 1st quarter. TD Asset Management Inc. now owns 9,814 shares of the asset manager’s stock worth $495,000 after purchasing an additional 680 shares during the period. Hedge funds and other institutional investors own 68.65% 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.
Receive News & Ratings for SEI Investments Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments Company and related companies with Analyst Ratings Network's FREE daily email newsletter.