HighTower Advisors LLC reduced its position in SEI Investments Company (NASDAQ:SEIC) by 11.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,903 shares of the asset manager’s stock after selling 876 shares during the period. HighTower Advisors LLC’s holdings in SEI Investments were worth $348,000 as of its most recent filing with the SEC.
Other hedge funds have also added to or reduced their stakes in the company. Capital Impact Advisors LLC acquired a new stake in SEI Investments during the first quarter worth $1,772,000. DnB Asset Management AS acquired a new stake in SEI Investments during the first quarter worth $638,000. Louisiana State Employees Retirement System increased its stake in SEI Investments by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 33,800 shares of the asset manager’s stock worth $1,705,000 after buying an additional 600 shares in the last quarter. Fox Run Management L.L.C. acquired a new stake in SEI Investments during the first quarter worth $474,000. Finally, Parametrica Management Ltd acquired a new stake in SEI Investments during the first quarter worth $204,000. 69.46% of the stock is currently owned by hedge funds and other institutional investors.
SEI Investments Company (NASDAQ SEIC) opened at 56.14 on Friday. The firm’s 50-day moving average is $54.48 and its 200 day moving average is $51.61. The company has a market cap of $8.91 billion, a PE ratio of 26.61 and a beta of 1.33. SEI Investments Company has a 1-year low of $42.90 and a 1-year high of $57.50.
SEI Investments (NASDAQ:SEIC) last announced its quarterly 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 company had revenue of $372.30 million during the quarter, compared to the consensus estimate of $369.88 million. During the same period in the previous year, the company posted $0.49 earnings per share. SEI Investments’s revenue for the quarter was up 8.3% on a year-over-year basis. Analysts predict that SEI Investments Company will post $2.28 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: “SEI Investments Company (SEIC) Shares Sold by HighTower Advisors LLC” was originally reported by StockNewsTimes and is owned by of StockNewsTimes. If you are accessing this article on another site, it was stolen and republished in violation of US and international trademark & copyright laws. The original version of this article can be read at https://stocknewstimes.com/2017/07/29/sei-investments-company-seic-shares-sold-by-hightower-advisors-llc-updated.html.
Several brokerages recently commented on SEIC. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a research report on Thursday. BidaskClub raised shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research report on Wednesday, July 12th. 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. Finally, Mizuho began coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. SEI Investments presently has an average rating of “Buy” and a consensus price target of $59.75.
In other SEI Investments news, insider Joseph P. Ujobai sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $51.16, for a total value of $1,534,800.00. Following the completion of the transaction, the insider now directly owns 42,540 shares of the company’s stock, valued at $2,176,346.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Joseph P. Ujobai sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $53.70, for a total value of $1,342,500.00. Following the completion of the transaction, the insider now directly owns 37,540 shares of the company’s stock, valued at $2,015,898. The disclosure for this sale can be found here. Insiders sold 172,500 shares of company stock valued at $8,999,577 over the last three months. 17.10% of the stock is currently owned by corporate insiders.
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.
Receive News & Ratings for SEI Investments Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments Company and related companies with MarketBeat.com's FREE daily email newsletter.
