SEI Investments Co. (SEIC) Sees Large Volume Increase
Shares of SEI Investments Co. (NASDAQ:SEIC) saw an uptick in trading volume on Friday . 486,183 shares traded hands during 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.
Several brokerages have issued reports on SEIC. Zacks Investment Research lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. Oppenheimer Holdings Inc. lowered their price objective on shares of SEI Investments from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of 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 has a market capitalization of $7.42 billion and a PE ratio of 23.95. The firm has a 50 day moving average price of $47.60 and a 200 day moving average price of $45.74.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The firm had revenue of $343.83 million for 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 research analysts predict that SEI Investments Co. will post $1.92 earnings per share for the current year.
In other news, CAO Kathy Heilig sold 25,000 shares of the stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $50.25, for a total value of $1,256,250.00. Following the transaction, the chief accounting officer now owns 14,391 shares in the company, valued at approximately $723,147.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Blumenstein sold 16,500 shares of the stock in a transaction that occurred on Friday, June 10th. The stock was sold at an average price of $49.89, for a total transaction of $823,185.00. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at approximately $436,238.16. The disclosure for this sale can be found here.
Several institutional investors have modified their holdings of SEIC. Employees Retirement System of Texas acquired a new position in shares of SEI Investments during the fourth quarter valued at $1,939,000. State of Tennessee Treasury Department boosted its position in shares of 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 period. Utah Retirement Systems boosted its position in shares of SEI Investments by 0.4% in the fourth quarter. Utah Retirement Systems now owns 24,988 shares of the company’s stock valued at $1,309,000 after buying an additional 100 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of SEI Investments by 5.7% in the fourth quarter. Ameriprise Financial Inc. now owns 2,540,602 shares of the company’s stock valued at $133,138,000 after buying an additional 137,868 shares during the period.
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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