SEI Investments Co. (SEIC) Shares Gap Up to $45.70
SEI Investments Co. (NASDAQ:SEIC) gapped up before the market opened on Friday . The stock had previously closed at $45.49, but opened at $45.70. SEI Investments shares last traded at $46.65, with a volume of 170,251 shares trading hands.
SEIC has been the topic of a number of recent research reports. Oppenheimer Holdings Inc. decreased their price objective on SEI Investments from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Thursday, July 28th. Raymond James Financial Inc. upped their price objective on SEI Investments from $44.00 to $49.00 in a research report on Thursday, April 7th. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Friday, April 8th. Finally, Keefe, Bruyette & Woods decreased their price objective on SEI Investments from $51.00 to $47.00 and set a “market perform” rating on the stock in a research report on Thursday, July 28th.
The firm has a market cap of $7.53 billion and a PE ratio of 24.32. The company’s 50-day moving average price is $48.29 and its 200-day moving average price is $45.10.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 27th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.01. The firm earned $343.83 million during the quarter, compared to analysts’ expectations of $346.92 million. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. Equities analysts forecast that SEI Investments Co. will post $1.92 EPS for the current year.
In related news, CAO Kathy Heilig sold 25,000 shares of SEI Investments stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $50.25, for a total value of $1,256,250.00. Following the sale, the chief accounting officer now directly owns 14,391 shares in the company, valued at approximately $723,147.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Meyer sold 10,000 shares of SEI Investments stock in a transaction dated Tuesday, May 10th. The stock was sold at an average price of $49.12, for a total value of $491,200.00. Following the completion of the sale, the executive vice president now owns 103,224 shares in the company, valued at $5,070,362.88. The disclosure for this sale can be found here.
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in SEI Investments by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 11,222,092 shares of the company’s stock valued at $588,039,000 after buying an additional 238,126 shares during the last quarter. OppenheimerFunds Inc. purchased a new stake in SEI Investments during the fourth quarter valued at about $10,789,000. RS Investment Management Co. LLC boosted its stake in SEI Investments by 27.0% in the fourth quarter. RS Investment Management Co. LLC now owns 780,640 shares of the company’s stock valued at $40,906,000 after buying an additional 165,750 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in SEI Investments by 147.5% in the fourth quarter. State of Tennessee Treasury Department now owns 167,800 shares of the company’s stock valued at $8,793,000 after buying an additional 100,000 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in SEI Investments during the fourth quarter valued at about $1,939,000.
SEI Investments Company (SEI) is a provider of investment processing, investment management and investment operations solutions. The Company enables corporations, financial institutions, financial advisors and ultra-high-net-worth families to create and manage wealth by providing investment and investment-business solutions.
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