Miles Capital Inc. Has $1.38 Million Holdings in SEI Investments Company (SEIC)
Miles Capital Inc. boosted its holdings in SEI Investments Company (NASDAQ:SEIC) by 370.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,629 shares of the asset manager’s stock after purchasing an additional 20,184 shares during the quarter. SEI Investments accounts for about 0.7% of Miles Capital Inc.’s portfolio, making the stock its 18th largest holding. Miles Capital Inc.’s holdings in SEI Investments were worth $1,378,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position 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 buying an additional 12,410,221 shares in the last quarter. Vanguard Group Inc. raised its position 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. Balyasny Asset Management LLC raised its position in shares of SEI Investments by 386.9% in the 2nd quarter. Balyasny Asset Management LLC now owns 286,738 shares of the asset manager’s stock valued at $15,421,000 after buying an additional 227,849 shares in the last quarter. JLB & Associates Inc. acquired a new position in shares of SEI Investments in the 2nd quarter valued at approximately $11,631,000. Finally, Ngam Advisors L.P. raised its position 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. Institutional investors and hedge funds own 68.65% of the company’s stock.
SEIC has been the subject of several analyst reports. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Wednesday, July 12th. Mizuho started coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They issued a “buy” rating and a $60.00 target price for the company. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price target on shares of SEI Investments in a report on Sunday, September 3rd. Finally, Oppenheimer Holdings, Inc. lifted their price target on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. SEI Investments presently has a consensus rating of “Buy” and a consensus price target of $61.50.
In related news, insider N Jeffrey Klauder sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $56.35, for a total value of $1,690,500.00. Following the sale, the insider now directly owns 82,194 shares of the company’s stock, valued at $4,631,631.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $55.94, for a total transaction of $2,797,000.00. Following the completion of the sale, the insider now directly owns 10,686,282 shares in the company, valued at $597,790,615.08. The disclosure for this sale can be found here. Insiders sold 305,000 shares of company stock worth $17,310,050 over the last ninety days. 16.50% of the stock is currently owned by insiders.
Shares of SEI Investments Company (NASDAQ:SEIC) traded down 0.73% during midday trading on Friday, hitting $61.06. 667,810 shares of the company traded hands. The stock has a 50 day moving average of $56.76 and a 200-day moving average of $53.36. SEI Investments Company has a 52 week low of $43.54 and a 52 week high of $61.50. The stock has a market capitalization of $9.65 billion, a PE ratio of 28.00 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 for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The business had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. SEI Investments’s quarterly 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. Equities analysts forecast that SEI Investments Company will post $2.28 earnings per share for the current fiscal year.
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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