SEI Investments Co. (SEIC) Sees Strong Trading Volume
SEI Investments Co. (NASDAQ:SEIC) saw unusually-strong trading volume on Friday . Approximately 486,183 shares were traded during mid-day trading, a decline of 3% from the previous session’s volume of 501,685 shares.The stock last traded at $45.94 and had previously closed at $46.19.
A number of equities analysts have recently issued reports on SEIC shares. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $56.00 price objective on shares of SEI Investments in a report on Wednesday, May 25th. Zacks Investment Research cut SEI Investments from a “hold” rating to a “sell” rating in a report on Friday, July 29th. Finally, Keefe, Bruyette & Woods dropped their target price on SEI Investments from $51.00 to $47.00 and set a “market perform” rating for the company in a report on Thursday, July 28th.
The firm’s 50 day moving average is $47.60 and its 200 day moving average is $45.74. The company has a market capitalization of $7.42 billion and a P/E ratio of 23.95.
SEI Investments (NASDAQ:SEIC) last announced 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 company earned $343.83 million during the quarter, compared to the consensus estimate of $346.92 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities analysts predict that SEI Investments Co. will post $1.92 earnings per share for the current fiscal year.
In other SEI Investments news, CAO Kathy Heilig sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $50.25, for a total transaction of $1,256,250.00. Following the sale, the chief accounting officer now directly owns 14,391 shares of the company’s stock, valued at $723,147.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 90,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $44.98, for a total value of $4,048,200.00. Following the sale, the insider now directly owns 11,641,864 shares in the company, valued at $523,651,042.72. The disclosure for this sale can be found here.
Other large investors have bought and sold shares of the company. Utah Retirement Systems boosted its stake in SEI Investments by 0.4% in the fourth quarter. Utah Retirement Systems now owns 24,988 shares of the company’s stock worth $1,309,000 after buying an additional 100 shares in the last quarter. Employees Retirement System of Texas acquired a new stake in SEI Investments during the fourth quarter worth approximately $1,939,000. Marshall Wace LLP boosted its stake in SEI Investments by 620.2% in the fourth quarter. Marshall Wace LLP now owns 38,547 shares of the company’s stock worth $2,020,000 after buying an additional 33,195 shares in 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 worth $8,793,000 after buying an additional 100,000 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in SEI Investments by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 2,540,602 shares of the company’s stock worth $133,138,000 after buying an additional 137,868 shares in the last quarter.
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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