Comerica Bank decreased its position in shares of SEI Investments Company (NASDAQ:SEIC) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,914 shares of the asset manager’s stock after selling 61 shares during the period. Comerica Bank owned approximately 0.07% of SEI Investments worth $6,158,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of SEIC. Van ECK Associates Corp raised its stake in 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 period. First Mercantile Trust Co. raised its stake in 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 period. Pacer Advisors Inc. raised its stake in 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 period. Mosaic Family Wealth LLC raised its stake in 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 period. Finally, Quantbot Technologies LP bought a new stake in SEI Investments during the first quarter worth about $159,000. 68.58% of the stock is owned by institutional investors.
SEI Investments Company (NASDAQ:SEIC) opened at 56.90 on Wednesday. SEI Investments Company has a 12 month low of $42.90 and a 12 month high of $57.50. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 26.09 and a beta of 1.33. The company’s 50-day moving average is $55.73 and its 200 day moving average is $52.33.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 26th. The asset manager reported $0.57 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 firm had revenue of $372.30 million during the quarter, compared to analysts’ expectations of $369.88 million. During the same quarter last year, the firm posted $0.49 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities analysts forecast that SEI Investments Company will post $2.28 earnings per share for the current fiscal year.
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A number of analysts have recently issued reports on the stock. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Mizuho assumed coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They issued a “buy” rating and a $60.00 price target for the company. Oppenheimer Holdings, Inc. increased their price target 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. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, July 12th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $54.00 price target on shares of SEI Investments in a research report on Friday, June 23rd. 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 an average rating of “Buy” and a consensus price target of $59.75.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $56.40, for a total value of $5,640,000.00. Following the completion of the sale, the insider now owns 10,836,282 shares of the company’s stock, valued at $611,166,304.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Doran sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $52.40, for a total value of $262,000.00. Following the completion of the sale, the director now directly owns 681,015 shares of the company’s stock, valued at approximately $35,685,186. The disclosure for this sale can be found here. Insiders sold 382,500 shares of company stock valued at $20,982,527 in the last three months. Insiders own 16.50% 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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