SEI Investments Company (NASDAQ:SEIC) insider Wayne Withrow sold 10,000 shares of the stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $59.97, for a total value of $599,700.00. Following the completion of the transaction, the insider now directly owns 31,864 shares in the company, valued at approximately $1,910,884.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.02. The business had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. SEI Investments’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.49 earnings per share.
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Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in SEI Investments by 32.2% in the first quarter. JPMorgan Chase & Co. now owns 320,687 shares of the asset manager’s stock valued at $16,176,000 after purchasing an additional 78,158 shares in the last quarter. Confluence Investment Management LLC increased its stake in SEI Investments by 4.2% in the second quarter. Confluence Investment Management LLC now owns 268,543 shares of the asset manager’s stock valued at $14,442,000 after purchasing an additional 10,744 shares in the last quarter. UBS Asset Management Americas Inc. increased its stake in 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 valued at $35,430,000 after purchasing an additional 17,422 shares in the last quarter. Suntrust Banks Inc. increased its stake in SEI Investments by 1.1% in the first quarter. Suntrust Banks Inc. now owns 8,061 shares of the asset manager’s stock valued at $405,000 after purchasing an additional 88 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its stake in SEI Investments by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock valued at $21,339,000 after purchasing an additional 6,325 shares in the last quarter. 68.65% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently weighed in on SEIC. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a research note on Thursday, July 27th. BidaskClub upgraded shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Zacks Investment Research upgraded shares of 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. upped 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 issued a “buy” rating and a $60.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. SEI Investments has a consensus rating of “Buy” and a consensus price target of $59.75.
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.
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