BB&T Investment Services Inc. acquired a new stake in SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 8,785 shares of the asset manager’s stock, valued at approximately $474,000.
Other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in SEI Investments by 32.2% in the 1st quarter. JPMorgan Chase & Co. now owns 320,687 shares of the asset manager’s stock valued at $16,176,000 after purchasing an additional 78,158 shares during the period. Confluence Investment Management LLC grew its stake in SEI Investments by 4.2% in the 2nd quarter. Confluence Investment Management LLC now owns 268,543 shares of the asset manager’s stock valued at $14,442,000 after purchasing an additional 10,744 shares during the period. UBS Asset Management Americas Inc. grew its stake in 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 valued at $35,430,000 after purchasing an additional 17,422 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its stake in SEI Investments by 1.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock valued at $21,339,000 after purchasing an additional 6,325 shares during the period. Finally, Wedbush Securities Inc. bought a new position in SEI Investments in the 2nd quarter valued at $208,000. Hedge funds and other institutional investors own 68.65% of the company’s stock.
In related news, Director William Doran sold 10,000 shares of SEI Investments stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. Following the completion of the sale, the director now owns 671,015 shares of the company’s stock, valued at $38,576,652.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider N Jeffrey Klauder sold 30,000 shares of SEI Investments stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $56.35, for a total value of $1,690,500.00. Following the completion of the sale, the insider now directly owns 82,194 shares of the company’s stock, valued at approximately $4,631,631.90. The disclosure for this sale can be found here. Insiders sold 325,000 shares of company stock valued at $18,540,250 in the last ninety days. 16.50% of the stock is currently owned by corporate insiders.
A number of brokerages have issued reports on SEIC. Zacks Investment Research upgraded SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Oppenheimer Holdings, Inc. upped their price target on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price target on shares of SEI Investments in a research report on Sunday, September 3rd. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Mizuho started coverage on SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $61.50.
ILLEGAL ACTIVITY NOTICE: “BB&T Investment Services Inc. Invests $474,000 in SEI Investments Company (SEIC) Stock” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.com-unik.info/2017/10/12/bbt-investment-services-inc-invests-474000-in-sei-investments-company-seic-stock.html.
Shares of SEI Investments Company (SEIC) traded up 0.50% on Thursday, hitting $63.87. The stock had a trading volume of 62,369 shares. The stock has a market cap of $10.10 billion, a PE ratio of 29.28 and a beta of 1.35. SEI Investments Company has a 12 month low of $43.54 and a 12 month high of $63.95. The stock has a 50 day moving average of $59.17 and a 200-day moving average of $54.50.
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 the Thomson Reuters’ 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 company had revenue of $372.30 million during the quarter, compared to analyst estimates of $369.88 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. SEI Investments’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments Company will post $2.28 EPS for the current year.
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.
Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC).
What are top analysts saying about SEI Investments Company? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for SEI Investments Company and related companies.