HighTower Advisors LLC reduced its position in SEI Investments Company (NASDAQ:SEIC) by 11.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of SEI Investments by 6.5% in the first quarter. Van ECK Associates Corp now owns 2,222 shares of the asset manager’s stock worth $112,000 after buying an additional 136 shares during the last quarter. First Mercantile Trust Co. raised its position in shares of SEI Investments by 165.6% in the first quarter. First Mercantile Trust Co. now owns 2,404 shares of the asset manager’s stock worth $121,000 after buying an additional 1,499 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of SEI Investments by 3.2% in the first 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 last quarter. Mosaic Family Wealth LLC raised its position in shares of SEI Investments by 3.6% in the first quarter. Mosaic Family Wealth LLC now owns 2,976 shares of the asset manager’s stock worth $150,000 after buying an additional 103 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of SEI Investments during the first quarter worth approximately $159,000. 69.58% of the stock is owned by hedge funds and other institutional investors.
Shares of SEI Investments Company (SEIC) traded down 0.14% during midday trading on Friday, reaching $56.00. The company’s stock had a trading volume of 235,375 shares. The stock’s 50 day moving average price is $54.72 and its 200 day moving average price is $51.69. SEI Investments Company has a one year low of $42.90 and a one year high of $57.50. The firm has a market cap of $8.85 billion, a price-to-earnings ratio of 25.68 and a beta of 1.33.
SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02. The business had revenue of $372.30 million for the quarter, compared to analysts’ expectations of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.49 EPS. Analysts predict that SEI Investments Company will post $2.28 earnings per share for the current year.
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A number of equities analysts recently commented on the company. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reissued 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 SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 11th. Zacks Investment Research upgraded 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. Finally, Mizuho initiated coverage on 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 analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $59.75.
In other news, Director Carmen Romeo sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $51.60, for a total transaction of $258,000.00. Following the transaction, the director now directly owns 1,600,952 shares in the company, valued at approximately $82,609,123.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 transaction, the insider now owns 42,540 shares in the company, valued at $2,176,346.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 302,500 shares of company stock worth $16,330,077. Insiders own 17.10% of the company’s stock.
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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