SEI Investments Company (SEIC) Shares Bought by Burney Co.
Burney Co. raised its position in shares of SEI Investments Company (NASDAQ:SEIC) by 228.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 68,455 shares of the asset manager’s stock after buying an additional 47,588 shares during the period. Burney Co.’s holdings in SEI Investments were worth $3,678,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of SEIC. BlackRock Inc. boosted its position 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 in the last quarter. Vanguard Group Inc. boosted its position 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 period. Frontier Capital Management Co. LLC boosted its position in shares of SEI Investments by 123.0% in the first quarter. Frontier Capital Management Co. LLC now owns 642,811 shares of the asset manager’s stock worth $32,423,000 after buying an additional 354,536 shares during the period. JLB & Associates Inc. bought a new position in shares of SEI Investments during the second quarter worth approximately $11,631,000. Finally, Ngam Advisors L.P. boosted its position in shares of SEI Investments by 18.8% in the first quarter. Ngam Advisors L.P. now owns 1,096,136 shares of the asset manager’s stock worth $55,289,000 after buying an additional 173,819 shares during the period. Hedge funds and other institutional investors own 68.66% of the company’s stock.
Shares of SEI Investments Company (NASDAQ SEIC) opened at 57.74 on Friday. SEI Investments Company has a 12 month low of $42.90 and a 12 month high of $58.62. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of 26.47 and a beta of 1.33. The stock has a 50 day moving average price of $56.44 and a 200-day moving average price of $52.81.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The firm had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. During the same period in the prior year, the business posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts expect that SEI Investments Company will post $2.28 earnings per share for the current fiscal year.
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A number of equities analysts have commented on SEIC shares. Mizuho started coverage on SEI Investments in a research note on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price target on the stock. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. lifted their price target on SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 11th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $54.00 price target on shares of SEI Investments in a research note on Friday, June 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. SEI Investments has an average rating of “Buy” and an average target price of $59.75.
In other news, Director William Doran sold 5,000 shares of the stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $52.40, for a total value of $262,000.00. Following the sale, the director now directly owns 681,015 shares in the company, valued at $35,685,186. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Alfred P. West, Jr. sold 84,116 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $51.92, for a total value of $4,367,302.72. Following the completion of the sale, the insider now owns 10,952,166 shares in the company, valued at $568,636,458.72. The disclosure for this sale can be found here. Over the last quarter, insiders sold 392,500 shares of company stock worth $21,557,427. Company insiders own 16.50% 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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