SEI Investments Company (SEIC) Receives $61.67 Consensus Price Target from Analysts
SEI Investments Company (NASDAQ:SEIC) has received an average recommendation of “Buy” from the six analysts that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $61.67.
SEIC has been the topic of several analyst reports. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price target on shares of SEI Investments in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. increased their price target on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Wednesday, July 12th. Finally, Mizuho initiated coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target on the stock.
In related news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the company’s stock in a transaction on 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 completion of the sale, the insider now directly owns 10,836,282 shares of the company’s stock, valued at approximately $611,166,304.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider N Jeffrey Klauder sold 30,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $56.35, for a total transaction 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,000 shares of company stock worth $18,540,250. 16.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SEIC. First Trust Advisors LP bought a new stake in shares of SEI Investments during the 1st quarter worth $713,000. UBS Asset Management Americas Inc. boosted its holdings in shares of SEI Investments by 2.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 702,422 shares of the asset manager’s stock worth $35,430,000 after buying an additional 17,422 shares during the period. TD Asset Management Inc. boosted its holdings in shares of SEI Investments by 7.4% during the 1st quarter. TD Asset Management Inc. now owns 9,814 shares of the asset manager’s stock worth $495,000 after buying an additional 680 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of SEI Investments by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,472 shares of the asset manager’s stock worth $125,000 after buying an additional 77 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of SEI Investments during the 1st quarter worth $159,000. 68.65% of the stock is owned by institutional investors and hedge funds.
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SEI Investments (NASDAQ SEIC) traded up 0.89% during trading on Friday, hitting $63.37. 352,588 shares of the company traded hands. SEI Investments has a one year low of $43.54 and a one year high of $63.37. The firm has a market cap of $10.02 billion, a P/E ratio of 29.06 and a beta of 1.35. The firm has a 50 day moving average of $58.76 and a 200 day moving average of $54.34.
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, beating the Thomson Reuters’ 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 firm had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. During the same quarter in the prior year, the business earned $0.49 EPS. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts expect that SEI Investments 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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