SEI Investments Company (NASDAQ:SEIC) posted its earnings results on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.02, Bloomberg Earnings reports. 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 analysts’ expectations of $369.88 million. During the same quarter last year, the firm earned $0.49 EPS. The company’s quarterly revenue was up 8.3% compared to the same quarter last year.
SEI Investments (SEIC) traded up 0.71% during midday trading on Monday, hitting $56.40. 266,811 shares of the company were exchanged. The stock has a 50 day moving average of $54.72 and a 200-day moving average of $51.69. SEI Investments has a 1-year low of $42.90 and a 1-year high of $57.50. The stock has a market capitalization of $8.92 billion, a price-to-earnings ratio of 25.86 and a beta of 1.33.
Several equities analysts have commented on SEIC shares. Raymond James Financial, Inc. reissued a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 20th. Mizuho started coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 target price on the stock. 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 cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Finally, Oppenheimer Holdings, Inc. lifted their target price on shares of SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 11th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. SEI Investments currently has a consensus rating of “Buy” and an average target price of $59.75.
In related news, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 11th. The shares were sold at an average price of $51.60, for a total value of $258,000.00. Following the sale, the director now owns 1,600,952 shares in the company, valued at $82,609,123.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph P. Ujobai sold 30,000 shares of the firm’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 transaction of $1,534,800.00. Following the completion of the sale, the insider now owns 42,540 shares in the company, valued at approximately $2,176,346.40. The disclosure for this sale can be found here. Insiders sold 302,500 shares of company stock worth $16,330,077 in the last 90 days. 17.10% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penserra Capital Management LLC increased its position in SEI Investments by 37.8% in the second quarter. Penserra Capital Management LLC now owns 6,020 shares of the asset manager’s stock valued at $323,000 after buying an additional 1,650 shares during the last quarter. Prudential Financial Inc. increased its position in SEI Investments by 59.2% in the second quarter. Prudential Financial Inc. now owns 270,716 shares of the asset manager’s stock valued at $14,559,000 after buying an additional 100,680 shares during the last quarter. Paradigm Asset Management Co. LLC acquired a new position in SEI Investments during the second quarter valued at $618,000. Ifrah Financial Services Inc. acquired a new position in SEI Investments during the second quarter valued at $462,000. Finally, Aviva PLC increased its position in SEI Investments by 5.6% in the second quarter. Aviva PLC now owns 78,736 shares of the asset manager’s stock valued at $4,235,000 after buying an additional 4,190 shares during the last quarter. Institutional investors and hedge funds own 70.07% 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.
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.
