SEI Investments Company (NASDAQ:SEIC) had its price target lifted by Oppenheimer Holdings, Inc. from $55.00 to $60.00 in a research note published on Tuesday, July 11th. The firm currently has an outperform rating on the asset manager’s stock. Oppenheimer Holdings also issued estimates for SEI Investments’ Q2 2017 earnings at $0.55 EPS, Q3 2017 earnings at $0.59 EPS, Q4 2017 earnings at $0.61 EPS, FY2017 earnings at $2.29 EPS, Q1 2018 earnings at $0.63 EPS, Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.68 EPS, Q4 2018 earnings at $0.70 EPS and FY2018 earnings at $2.66 EPS.
A number of other equities research analysts have also commented on SEIC. Zacks Investment Research upgraded shares of SEI Investments from a sell rating to a hold rating in a report on Tuesday, March 14th. BidaskClub lowered shares of SEI Investments from a strong-buy rating to a buy rating in a report on Thursday, June 22nd. Mizuho began coverage on shares of SEI Investments in a report on Tuesday, June 27th. They set a buy rating and a $60.00 price objective on the stock. Raymond James Financial, Inc. restated a market perform rating on shares of SEI Investments in a report on Thursday, April 20th. Finally, Keefe, Bruyette & Woods restated a hold rating and set a $54.00 price objective on shares of SEI Investments in a report on Friday, June 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus price target of $59.75.
Shares of SEI Investments (NASDAQ:SEIC) traded up 0.45% during mid-day trading on Tuesday, reaching $55.71. 334,407 shares of the company’s stock traded hands. SEI Investments has a 52 week low of $42.90 and a 52 week high of $57.50. The firm has a market cap of $8.81 billion, a price-to-earnings ratio of 25.54 and a beta of 1.33. The company’s 50 day moving average is $55.24 and its 200-day moving average is $51.99.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data 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 analyst estimates of $369.88 million. During the same period last year, the business posted $0.49 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. Equities analysts expect that SEI Investments will post $2.28 earnings per share for the current fiscal year.
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In other news, major shareholder Alfred P. West, Jr. sold 15,884 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $52.46, for a total transaction of $833,274.64. Following the transaction, the insider now directly owns 10,886,282 shares in the company, valued at approximately $571,094,353.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Alfred P. West, Jr. sold 84,116 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $51.92, for a total transaction of $4,367,302.72. Following the transaction, 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. Insiders sold a total of 382,500 shares of company stock worth $20,982,527 over the last quarter. Company insiders own 17.10% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. OxFORD Asset Management LLP bought a new stake in shares of SEI Investments during the second quarter valued at approximately $3,078,000. Dimensional Fund Advisors LP increased its stake in shares of SEI Investments by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 493,798 shares of the asset manager’s stock valued at $26,557,000 after buying an additional 5,752 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of SEI Investments by 11.8% in the second quarter. Nordea Investment Management AB now owns 395,336 shares of the asset manager’s stock valued at $21,261,000 after buying an additional 41,803 shares during the last quarter. Suntrust Banks Inc. increased its stake in shares of SEI Investments by 33.5% in the second quarter. Suntrust Banks Inc. now owns 10,761 shares of the asset manager’s stock valued at $578,000 after buying an additional 2,700 shares during the last quarter. Finally, M&T Bank Corp increased its stake in shares of SEI Investments by 3.5% in the second quarter. M&T Bank Corp now owns 15,380 shares of the asset manager’s stock valued at $828,000 after buying an additional 515 shares during the last quarter. Institutional investors own 70.07% of the company’s stock.
About SEI Investments
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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