Confluence Investment Management LLC grew its stake in shares of SEI Investments (NASDAQ:SEIC) by 6.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 333,970 shares of the asset manager’s stock after buying an additional 20,228 shares during the period. Confluence Investment Management LLC owned 0.22% of SEI Investments worth $17,450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund grew its holdings in shares of SEI Investments by 4,406.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,250,355 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 3,178,224 shares in the last quarter. Norges Bank purchased a new position in shares of SEI Investments in the fourth quarter valued at $65,129,000. Millennium Management LLC grew its holdings in shares of SEI Investments by 78.4% in the fourth quarter. Millennium Management LLC now owns 1,275,814 shares of the asset manager’s stock valued at $58,943,000 after purchasing an additional 560,833 shares in the last quarter. Federated Investors Inc. PA grew its holdings in shares of SEI Investments by 826.1% in the third quarter. Federated Investors Inc. PA now owns 470,856 shares of the asset manager’s stock valued at $28,769,000 after purchasing an additional 420,015 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in SEI Investments by 67.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 866,478 shares of the asset manager’s stock worth $40,030,000 after buying an additional 349,016 shares during the period. Hedge funds and other institutional investors own 69.39% of the company’s stock.
SEIC has been the subject of several recent analyst reports. ValuEngine lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Oppenheimer dropped their price objective on shares of SEI Investments from $68.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, January 9th. Zacks Investment Research lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. TheStreet raised shares of SEI Investments from a “c+” rating to a “b-” rating in a research note on Tuesday, March 12th. Finally, BidaskClub raised shares of SEI Investments from a “strong sell” rating to a “sell” rating in a research note on Saturday, March 16th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $66.20.
Shares of SEIC opened at $57.96 on Wednesday. The firm has a market cap of $8.76 billion, a PE ratio of 18.46, a P/E/G ratio of 1.54 and a beta of 1.24. SEI Investments has a 12-month low of $42.27 and a 12-month high of $71.65.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 30th. The asset manager reported $0.73 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.01). The firm had revenue of $405.05 million during the quarter, compared to the consensus estimate of $403.45 million. SEI Investments had a net margin of 31.15% and a return on equity of 31.48%. The business’s revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 earnings per share. As a group, sell-side analysts predict that SEI Investments will post 3.09 EPS for the current fiscal year.
In other news, insider Paul Klauder bought 3,110 shares of SEI Investments stock in a transaction on Tuesday, February 5th. The stock was acquired at an average cost of $49.81 per share, for a total transaction of $154,909.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alfred P. West, Jr. sold 116,412 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $53.03, for a total transaction of $6,173,328.36. Following the completion of the transaction, the insider now owns 9,811,713 shares of the company’s stock, valued at $520,315,140.39. The disclosure for this sale can be found here. Insiders sold 307,103 shares of company stock valued at $16,143,042 over the last 90 days. 17.30% of the stock is currently owned by corporate insiders.
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About SEI Investments
SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.
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