First Manhattan Co. held its position in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,165 shares of the asset manager’s stock at the end of the second quarter. First Manhattan Co.’s holdings in SEI Investments were worth $170,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in shares of SEI Investments by 32.2% in the first quarter. JPMorgan Chase & Co. now owns 320,687 shares of the asset manager’s stock worth $16,176,000 after buying an additional 78,158 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in shares of SEI Investments by 2.5% in the first 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 last quarter. Suntrust Banks Inc. raised its stake in shares of SEI Investments by 1.1% in the first quarter. Suntrust Banks Inc. now owns 8,061 shares of the asset manager’s stock worth $405,000 after buying an additional 88 shares during the last quarter. Confluence Investment Management LLC raised its stake in shares of SEI Investments by 4.2% in the second quarter. Confluence Investment Management LLC now owns 268,543 shares of the asset manager’s stock worth $14,442,000 after buying an additional 10,744 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of SEI Investments during the fourth quarter worth approximately $2,933,000. 70.07% of the stock is currently owned by hedge funds and other institutional investors.
Shares of SEI Investments Company (SEIC) opened at 55.71 on Friday. SEI Investments Company has a 12 month low of $42.90 and a 12 month high of $57.50. The firm’s 50-day moving average price is $55.24 and its 200-day moving average price is $51.99. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 25.54 and a beta of 1.33.
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, topping the 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 prior year, the company earned $0.49 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, equities analysts anticipate that SEI Investments Company will post $2.28 earnings per share for the current year.
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A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a research report on Thursday, July 27th. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. raised their price objective on SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 11th. Finally, Mizuho assumed coverage on SEI Investments in a research report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price objective for the company. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. SEI Investments presently has a consensus rating of “Buy” and an average price target of $59.75.
In related news, major shareholder Alfred P. West, Jr. sold 15,884 shares of the stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $52.46, for a total transaction of $833,274.64. Following the completion of the transaction, the insider now directly owns 10,886,282 shares in the company, valued at $571,094,353.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alfred P. West, Jr. sold 84,116 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $51.92, for a total value of $4,367,302.72. Following the transaction, the insider now owns 10,952,166 shares of the company’s stock, valued at $568,636,458.72. The disclosure for this sale can be found here. Insiders sold 382,500 shares of company stock valued at $20,982,527 over the last 90 days. Corporate 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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