Hermes Investment Management Ltd. reduced its position in shares of SEI Investments Company (NASDAQ:SEIC) by 6.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 615,223 shares of the asset manager’s stock after selling 39,339 shares during the period. Hermes Investment Management Ltd. owned about 0.39% of SEI Investments worth $33,087,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in SEIC. Van ECK Associates Corp raised its stake in shares of SEI Investments by 6.5% in the first quarter. Van ECK Associates Corp now owns 2,222 shares of the asset manager’s stock worth $112,000 after buying an additional 136 shares in the last quarter. First Mercantile Trust Co. raised its stake in shares of SEI Investments by 165.6% in the first quarter. First Mercantile Trust Co. now owns 2,404 shares of the asset manager’s stock worth $121,000 after buying an additional 1,499 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of SEI Investments by 3.2% in the first quarter. Pacer Advisors Inc. now owns 2,472 shares of the asset manager’s stock worth $125,000 after buying an additional 77 shares in the last quarter. Mosaic Family Wealth LLC raised its stake in shares of SEI Investments by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 2,976 shares of the asset manager’s stock worth $150,000 after buying an additional 103 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of SEI Investments during the first quarter worth $159,000. 70.07% of the stock is currently owned by institutional investors.
Shares of SEI Investments Company (NASDAQ SEIC) opened at 55.71 on Friday. The stock has a market cap of $8.81 billion, a price-to-earnings ratio of 25.54 and a beta of 1.33. SEI Investments Company has a 52 week low of $42.90 and a 52 week high of $57.50. The stock’s 50 day moving average price is $55.24 and its 200 day moving average price is $51.99.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate 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 quarter last year, the business earned $0.49 earnings per share. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. Equities research analysts anticipate that SEI Investments Company will post $2.28 EPS for the current fiscal year.
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A number of equities research analysts have weighed in on the company. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. lifted their price objective on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, July 11th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, July 12th. Finally, Mizuho started coverage on SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $59.75.
In related news, major shareholder Alfred P. West, Jr. sold 84,116 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The shares were 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dennis Mcgonigle sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $56.35, for a total transaction of $845,250.00. Following the transaction, the insider now owns 612,034 shares in the company, valued at approximately $34,488,115.90. The disclosure for this sale can be found here. Insiders have sold 382,500 shares of company stock worth $20,982,527 in the last quarter. Company insiders own 17.10% 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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