SEI Investments Company (SEIC) Stake Reduced by Jaffetilchin Investment Partners LLC
Jaffetilchin Investment Partners LLC cut its stake in SEI Investments Company (NASDAQ:SEIC) by 49.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,165 shares of the asset manager’s stock after selling 9,945 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in SEI Investments were worth $547,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. 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 in 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 in 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 in 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 in the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of SEI Investments during the first quarter valued at approximately $159,000. 68.58% of the stock is currently owned by institutional investors.
Shares of SEI Investments Company (NASDAQ SEIC) opened at 56.93 on Wednesday. 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 $55.46 and its 200-day moving average price is $52.11. The company has a market capitalization of $9.00 billion, a PE ratio of 26.10 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.02. The company had revenue of $372.30 million during the quarter, compared to analysts’ expectations of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The business’s revenue was up 8.3% on a year-over-year basis. During the same period last year, the firm posted $0.49 earnings per share. On average, analysts expect that SEI Investments Company will post $2.28 earnings per share for the current year.
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SEIC has been the topic of several recent analyst reports. BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Mizuho initiated coverage on SEI Investments in a research report on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price target on the stock. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a research report on Thursday, July 27th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $59.75.
In related news, insider Paul Klauder sold 7,500 shares of SEI Investments stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $53.56, for a total transaction of $401,700.00. Following the completion of the sale, the insider now directly owns 21,629 shares of the company’s stock, valued at approximately $1,158,449.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $52.40, for a total value of $262,000.00. Following the sale, the director now directly owns 681,015 shares of the company’s stock, valued at $35,685,186. The disclosure for this sale can be found here. Over the last three months, insiders have sold 382,500 shares of company stock valued at $20,982,527. 17.10% of the stock is currently owned by insiders.
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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