SEI Investments Company (SEIC) Shares Sold by Royce & Associates LP
Royce & Associates LP reduced its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 654,450 shares of the asset manager’s stock after selling 21,000 shares during the period. Royce & Associates LP owned 0.41% of SEI Investments worth $35,196,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the stock. Van ECK Associates Corp raised 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. raised 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. raised 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 raised 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 bought a new position in shares of SEI Investments during the first quarter valued at approximately $159,000. 68.58% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Company (SEIC) opened at 57.18 on Friday. The stock has a market capitalization of $9.04 billion, a price-to-earnings ratio of 26.22 and a beta of 1.33. SEI Investments Company has a 52-week low of $42.90 and a 52-week high of $57.50. The firm’s 50-day moving average is $56.04 and its 200-day moving average is $52.51.
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. 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 during the quarter, compared to analyst estimates of $369.88 million. During the same quarter in the previous year, the firm posted $0.49 EPS. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts predict that SEI Investments Company will post $2.28 earnings per share for the current year.
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SEIC has been the subject of several research analyst reports. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, July 12th. Mizuho initiated coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price objective for the company. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research report on Thursday, July 27th. Finally, Oppenheimer Holdings, Inc. increased their price objective on shares of SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 11th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $59.75.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 84,116 shares of SEI Investments stock in a transaction on Friday, June 9th. The stock was sold at an average price of $51.92, for a total transaction of $4,367,302.72. Following the sale, the insider now owns 10,952,166 shares of the company’s stock, valued at approximately $568,636,458.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dennis Mcgonigle sold 15,000 shares of SEI Investments 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 disclosure for this sale can be found here. Insiders have sold a total of 382,500 shares of company stock valued at $20,982,527 in the last 90 days. Insiders own 16.50% of the company’s stock.
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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