SEI Investments Co. (SEIC) Upgraded to Hold by Zacks Investment Research
According to Zacks, “SEI Investments is well positioned for organic growth in the forthcoming quarters based on its innovative and diverse global investment products and services. Further, the company’s robust asset inflows will continue to support revenues, while the strong balance sheet position is likely to assist in deploying capital meaningfully. However, expenses are anticipated to remain elevated over the next couple of years due to additional investment spending around services. Further, increasing dependence on fee-based revenues could adversely affect the company’s financials in the near term.”
A number of other research firms have also weighed in on SEIC. Keefe, Bruyette & Woods cut their target price on shares of SEI Investments from $51.00 to $47.00 and set a market perform rating for the company in a report on Thursday, July 28th. Oppenheimer Holdings Inc. cut their target price on shares of SEI Investments from $56.00 to $53.00 and set an outperform rating for the company in a report on Thursday, July 28th.
SEI Investments (NASDAQ:SEIC) opened at 46.00 on Tuesday. The company’s 50-day moving average is $45.85 and its 200 day moving average is $46.98. SEI Investments has a 52 week low of $32.01 and a 52 week high of $55.11. The stock has a market cap of $7.42 billion, a PE ratio of 23.96 and a beta of 1.28.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 27th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by $0.01. SEI Investments had a net margin of 23.67% and a return on equity of 24.48%. The business earned $343.83 million during the quarter, compared to analysts’ expectations of $346.92 million. During the same period last year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts expect that SEI Investments will post $1.92 earnings per share for the current fiscal year.
In other news, major shareholder Alfred P. West, Jr. sold 90,000 shares of SEI Investments stock in a transaction on Monday, August 8th. The stock was sold at an average price of $44.98, for a total transaction of $4,048,200.00. Following the completion of the sale, the insider now directly owns 11,641,864 shares in the company, valued at $523,651,042.72. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 17.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in SEIC. Mason Street Advisors LLC purchased a new position in shares of SEI Investments during the second quarter valued at approximately $2,985,000. Northwestern Mutual Wealth Management Co. raised its position in shares of SEI Investments by 193.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,127 shares of the company’s stock valued at $102,000 after buying an additional 1,402 shares in the last quarter. Front Street Capital Management Inc. purchased a new position in shares of SEI Investments during the second quarter valued at approximately $7,114,000. Royal Bank of Canada raised its position in shares of SEI Investments by 2.5% in the second quarter. Royal Bank of Canada now owns 101,500 shares of the company’s stock valued at $4,884,000 after buying an additional 2,455 shares in the last quarter. Finally, Sterling Capital Management LLC raised its position in shares of SEI Investments by 4.4% in the second quarter. Sterling Capital Management LLC now owns 8,545 shares of the company’s stock valued at $411,000 after buying an additional 360 shares in the last quarter. Hedge funds and other institutional investors own 70.29% of the company’s stock.
SEI Investments Company Profile
SEI Investments Company (SEI) is a provider of investment processing, investment management and investment operations solutions. The Company enables corporations, financial institutions, financial advisors and ultra-high-net-worth families to create and manage wealth by providing investment and investment-business solutions.
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