Citigroup Inc. Raises Stake in SEI Investments Company (SEIC)
Citigroup Inc. grew its holdings in SEI Investments Company (NASDAQ:SEIC) by 4.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,409 shares of the asset manager’s stock after purchasing an additional 1,761 shares during the period. Citigroup Inc.’s holdings in SEI Investments were worth $2,281,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of SEIC. BlackRock Inc. increased its holdings in shares of SEI Investments by 3,644.6% in the 1st quarter. BlackRock Inc. now owns 12,750,729 shares of the asset manager’s stock valued at $643,148,000 after purchasing an additional 12,410,221 shares during the period. Vanguard Group Inc. grew its stake in shares of SEI Investments by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 12,903,413 shares of the asset manager’s stock valued at $650,849,000 after buying an additional 595,691 shares in the last quarter. JLB & Associates Inc. bought a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $11,631,000. Ngam Advisors L.P. grew its stake in shares of SEI Investments by 18.8% in the 1st quarter. Ngam Advisors L.P. now owns 1,096,136 shares of the asset manager’s stock valued at $55,289,000 after buying an additional 173,819 shares in the last quarter. Finally, Nationwide Fund Advisors grew its stake in shares of SEI Investments by 34.8% in the 2nd quarter. Nationwide Fund Advisors now owns 643,781 shares of the asset manager’s stock valued at $34,623,000 after buying an additional 166,110 shares in the last quarter. Institutional investors own 68.65% of the company’s stock.
Shares of SEI Investments Company (NASDAQ:SEIC) opened at 61.31 on Thursday. SEI Investments Company has a 52 week low of $43.54 and a 52 week high of $61.51. The company has a 50 day moving average price of $56.76 and a 200 day moving average price of $53.36. The company has a market cap of $9.69 billion, a PE ratio of 28.11 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last announced its earnings results 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 for the quarter, compared to analyst estimates of $369.88 million. During the same quarter last year, the firm earned $0.49 EPS. SEI Investments’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts expect that SEI Investments Company will post $2.28 earnings per share for the current year.
Several equities research analysts recently commented on the company. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a research note on Sunday, September 3rd. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. boosted their price target on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 11th. Finally, Mizuho assumed coverage on SEI Investments in a research note on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $59.75.
In related news, insider N Jeffrey Klauder sold 30,000 shares of SEI Investments stock in a transaction that occurred 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 sale, the insider now owns 82,194 shares of the company’s stock, valued at approximately $4,631,631.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Doran sold 10,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $59.74, for a total value of $597,400.00. Following the completion of the sale, the director now directly owns 667,015 shares in the company, valued at approximately $39,847,476.10. The disclosure for this sale can be found here. In the last three months, insiders sold 305,000 shares of company stock worth $17,310,050. 16.50% of the stock is owned by insiders.
SEI Investments 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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