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.
Several equities research analysts recently weighed in on SEIC shares. Oppenheimer Holdings Inc. reaffirmed a “buy” rating on shares of SEI Investments in a research note on Sunday, April 17th. Zacks Investment Research downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Finally, Keefe, Bruyette & Woods cut their target price on shares of SEI Investments from $51.00 to $47.00 and set a “market perform” rating on the stock in a research note on Thursday, July 28th.
The company’s 50 day moving average price is $48.29 and its 200 day moving average price is $45.10. The stock has a market cap of $7.53 billion and a P/E ratio of 24.32.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by $0.01. The firm had revenue of $343.83 million for the quarter, compared to analyst estimates of $346.92 million. SEI Investments’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 EPS. On average, analysts anticipate that SEI Investments Co. will post $1.92 earnings per share for the current year.
In related news, Director Sarah Blumenstein sold 16,500 shares of the firm’s stock in a transaction that occurred on Friday, June 10th. The shares were sold at an average price of $49.89, for a total value of $823,185.00. Following the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $436,238.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Kathy Heilig sold 25,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the chief accounting officer now directly owns 14,391 shares in the company, valued at $723,147.75. The disclosure for this sale can be found here.
Several large investors recently added to or reduced their stakes in SEIC. 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 valued at $1,309,000 after buying an additional 100 shares in the last quarter. Robeco Institutional Asset Management B.V. acquired a new position in shares of SEI Investments during the fourth quarter worth $1,310,000. Employees Retirement System of Texas acquired a new position in shares of SEI Investments during the fourth quarter worth $1,939,000. Marshall Wace LLP boosted its position in shares of 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 during the period. Finally, Gulf International Bank UK Ltd boosted its position in shares of SEI Investments by 1.0% in the fourth quarter. Gulf International Bank UK Ltd now owns 42,451 shares of the company’s stock worth $2,224,000 after buying an additional 420 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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