SEI Investments Company (NASDAQ:SEIC) Receives Average Rating of “Buy” from Analysts

SEI Investments Company (NASDAQ:SEIC) has earned an average rating of “Buy” from the six research firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $59.75.

Several research analysts recently weighed in on SEIC shares. Raymond James Financial, Inc. restated a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 20th. Mizuho started coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target for the company. BidaskClub downgraded shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, April 21st. Finally, Oppenheimer Holdings, Inc. upped their price objective on shares of SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 11th.

SEI Investments (NASDAQ SEIC) traded up 0.63% during midday trading on Monday, reaching $55.81. The company had a trading volume of 46,179 shares. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 25.59 and a beta of 1.33. The company has a 50-day moving average price of $55.16 and a 200-day moving average price of $51.95. SEI Investments has a one year low of $42.90 and a one year high of $57.50.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. The business had revenue of $372.30 million during the quarter, compared to the consensus estimate of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The company’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.49 earnings per share. On average, equities analysts expect that SEI Investments will post $2.28 earnings per share for the current year.

In other news, insider Dennis Mcgonigle sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $56.35, for a total value of $845,250.00. Following the sale, the insider now directly owns 612,034 shares in the company, valued at approximately $34,488,115.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $55.94, for a total transaction of $2,797,000.00. Following the completion of the sale, the insider now owns 10,686,282 shares in the company, valued at $597,790,615.08. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 382,500 shares of company stock worth $20,982,527. 17.10% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in SEIC. Van ECK Associates Corp increased its position 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 valued at $112,000 after buying an additional 136 shares during the last quarter. First Mercantile Trust Co. increased its position 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 valued at $121,000 after buying an additional 1,499 shares during the last quarter. Pacer Advisors Inc. increased its position 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 valued at $125,000 after buying an additional 77 shares during the last quarter. Mosaic Family Wealth LLC increased its position 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 valued at $150,000 after buying an additional 103 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of SEI Investments during the first quarter valued at about $159,000. Hedge funds and other institutional investors own 70.07% of the company’s stock.

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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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