Bank of Montreal Can Boosts Position in SEI Investments Company (NASDAQ:SEIC)
Bank of Montreal Can boosted its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,917 shares of the asset manager’s stock after buying an additional 1,787 shares during the period. Bank of Montreal Can’s holdings in SEI Investments were worth $1,878,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Mn Services Vermogensbeheer B.V. increased its position in SEI Investments by 3.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,627 shares of the asset manager’s stock valued at $171,000 after buying an additional 133 shares in the last quarter. Northwest Investment Counselors LLC increased its position in SEI Investments by 1.6% in the first quarter. Northwest Investment Counselors LLC now owns 14,040 shares of the asset manager’s stock valued at $708,000 after buying an additional 221 shares in the last quarter. Wagner Bowman Management Corp purchased a new position in SEI Investments during the first quarter valued at $201,000. Retirement Systems of Alabama increased its position in SEI Investments by 4.6% in the first quarter. Retirement Systems of Alabama now owns 357,318 shares of the asset manager’s stock valued at $18,023,000 after buying an additional 15,862 shares in the last quarter. Finally, Hermes Investment Management Ltd. increased its position in SEI Investments by 2.8% in the first quarter. Hermes Investment Management Ltd. now owns 654,562 shares of the asset manager’s stock valued at $33,016,000 after buying an additional 17,573 shares in the last quarter. 68.58% of the stock is owned by institutional investors.
Shares of SEI Investments Company (NASDAQ:SEIC) traded up 1.88% during trading on Monday, hitting $56.76. The stock had a trading volume of 105,515 shares. SEI Investments Company has a one year low of $42.90 and a one year high of $57.50. The company has a market cap of $8.97 billion, a P/E ratio of 26.02 and a beta of 1.33. The stock’s 50-day moving average price is $55.24 and its 200-day moving average price is $51.99.
SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.02. The business had revenue of $372.30 million for the quarter, compared to analysts’ expectations of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The company’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.49 EPS. On average, equities research analysts forecast that SEI Investments Company will post $2.28 EPS for the current fiscal year.
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Several research firms have weighed in on SEIC. BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research report on Thursday, July 27th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a research report on Wednesday, July 12th. Oppenheimer Holdings, Inc. lifted their target price on SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, July 11th. Finally, Mizuho began coverage on SEI Investments in a research report on Tuesday, June 27th. They issued a “buy” rating and a $60.00 target price for the company. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. SEI Investments has a consensus rating of “Buy” and a consensus target price of $59.75.
In related news, major shareholder Alfred P. West, Jr. sold 84,116 shares of SEI Investments stock in a transaction on Friday, June 9th. The stock was sold at an average price of $51.92, for a total value of $4,367,302.72. Following the transaction, the insider now directly owns 10,952,166 shares in the company, valued at approximately $568,636,458.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction on Monday, June 12th. The stock was sold at an average price of $52.40, for a total value of $262,000.00. Following the completion of the transaction, the director now owns 681,015 shares in the company, valued at $35,685,186. The disclosure for this sale can be found here. Insiders sold a total of 382,500 shares of company stock worth $20,982,527 over the last 90 days. Insiders own 17.10% of the company’s stock.
About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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