SEI Investments Company (SEIC) Stake Lowered by Pictet Asset Management Ltd.
Pictet Asset Management Ltd. cut its position in SEI Investments Company (NASDAQ:SEIC) by 1.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,500 shares of the asset manager’s stock after selling 800 shares during the period. Pictet Asset Management Ltd.’s holdings in SEI Investments were worth $2,680,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. raised its position in 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. Suntrust Banks Inc. raised its position in SEI Investments by 1.1% in the first quarter. Suntrust Banks Inc. now owns 8,061 shares of the asset manager’s stock worth $405,000 after buying an additional 88 shares in the last quarter. Utah Retirement Systems raised its position in SEI Investments by 0.4% in the first quarter. Utah Retirement Systems now owns 23,388 shares of the asset manager’s stock worth $1,179,000 after buying an additional 100 shares in the last quarter. Mosaic Family Wealth LLC raised its position in 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, Gateway Investment Advisers LLC raised its position in SEI Investments by 2.6% in the second quarter. Gateway Investment Advisers LLC now owns 4,559 shares of the asset manager’s stock worth $245,000 after buying an additional 114 shares in the last quarter. 68.58% of the stock is currently owned by institutional investors.
SEI Investments Company (SEIC) opened at 55.82 on Monday. The company has a 50 day moving average price of $55.67 and a 200-day moving average price of $52.22. SEI Investments Company has a 1-year low of $42.90 and a 1-year high of $57.50. The firm has a market capitalization of $8.83 billion, a price-to-earnings ratio of 25.59 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the 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 business had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. During the same period last year, the company earned $0.49 EPS. SEI Investments’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts forecast that SEI Investments Company will post $2.28 EPS for the current fiscal year.
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A number of research firms recently commented on SEIC. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research note on Thursday, July 27th. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. 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 research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. lifted their price objective on SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 11th. Finally, Mizuho began coverage on SEI Investments in a research note on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $59.75.
In other SEI Investments news, insider Dennis Mcgonigle sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $56.35, for a total value of $845,250.00. Following the completion of the sale, the insider now owns 612,034 shares in the company, valued at approximately $34,488,115.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Alfred P. West, Jr. sold 84,116 shares of the stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $51.92, for a total value of $4,367,302.72. Following the completion of the sale, the insider now owns 10,952,166 shares of the company’s stock, valued at approximately $568,636,458.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 382,500 shares of company stock worth $20,982,527. 16.50% of the stock is owned by corporate insiders.
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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