SEI Investments Company (SEIC) Shares Sold by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. reduced its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 5.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 841,015 shares of the asset manager’s stock after selling 46,722 shares during the quarter. Goldman Sachs Group Inc. owned about 0.53% of SEI Investments worth $45,230,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SEIC. BlackRock Inc. raised its stake in SEI Investments by 3,644.6% during the 1st quarter. BlackRock Inc. now owns 12,750,729 shares of the asset manager’s stock worth $643,148,000 after acquiring an additional 12,410,221 shares in the last quarter. Vanguard Group Inc. increased its stake in SEI Investments by 4.8% in the first quarter. Vanguard Group Inc. now owns 12,903,413 shares of the asset manager’s stock valued at $650,849,000 after purchasing an additional 595,691 shares during the period. Balyasny Asset Management LLC increased its stake in SEI Investments by 386.9% in the second quarter. Balyasny Asset Management LLC now owns 286,738 shares of the asset manager’s stock valued at $15,421,000 after purchasing an additional 227,849 shares during the period. JLB & Associates Inc. acquired a new position in SEI Investments in the second quarter valued at $11,631,000. Finally, Nationwide Fund Advisors increased its stake in SEI Investments by 34.8% in the second quarter. Nationwide Fund Advisors now owns 643,781 shares of the asset manager’s stock valued at $34,623,000 after purchasing an additional 166,110 shares during the period. Hedge funds and other institutional investors own 68.65% of the company’s stock.
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In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $56.40, for a total transaction of $5,640,000.00. Following the transaction, the insider now owns 10,836,282 shares of the company’s stock, valued at approximately $611,166,304.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 10,686,282 shares in the company, valued at approximately $597,790,615.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 325,000 shares of company stock worth $18,540,250. Corporate insiders own 16.50% of the company’s stock.
Shares of SEI Investments Company (NASDAQ:SEIC) opened at 62.78 on Friday. The stock has a market cap of $9.93 billion, a P/E ratio of 28.78 and a beta of 1.35. SEI Investments Company has a one year low of $43.54 and a one year high of $62.90. The stock has a 50 day moving average of $58.56 and a 200 day moving average of $54.20.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The business had revenue of $372.30 million for the quarter, compared to analysts’ expectations of $369.88 million. During the same quarter last year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts expect that SEI Investments Company will post $2.28 EPS for the current fiscal year.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Oppenheimer Holdings, Inc. lifted their price objective on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research note on Thursday, July 27th. BidaskClub upgraded shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Finally, Mizuho assumed coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. SEI Investments has an average rating of “Buy” and an average price target of $61.50.
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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