Seven Eight Capital LP bought a new position in SEI Investments Company (NASDAQ:SEIC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 7,500 shares of the asset manager’s stock, valued at approximately $403,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of SEI Investments by 32.2% in the first quarter. JPMorgan Chase & Co. now owns 320,687 shares of the asset manager’s stock worth $16,176,000 after buying an additional 78,158 shares during the period. Confluence Investment Management LLC boosted its holdings in shares of SEI Investments by 4.2% in the second quarter. Confluence Investment Management LLC now owns 268,543 shares of the asset manager’s stock worth $14,442,000 after buying an additional 10,744 shares during the period. UBS Asset Management Americas Inc. boosted its holdings in shares of SEI Investments by 2.5% in the first quarter. UBS Asset Management Americas Inc. now owns 702,422 shares of the asset manager’s stock worth $35,430,000 after buying an additional 17,422 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of SEI Investments by 1.1% in the first quarter. Suntrust Banks Inc. now owns 8,061 shares of the asset manager’s stock worth $405,000 after buying an additional 88 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of SEI Investments by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock worth $21,339,000 after buying an additional 6,325 shares during the period. Institutional investors own 68.65% of the company’s stock.

Several research analysts have commented on SEIC shares. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $54.00 target price on shares of SEI Investments in a report on Friday, June 23rd. Mizuho started coverage on shares of SEI Investments in a report on Tuesday, June 27th. They set a “buy” rating and a $60.00 price target for the company. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research cut shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Oppenheimer Holdings, Inc. raised their price target on shares of SEI Investments from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, July 11th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. SEI Investments currently has an average rating of “Buy” and an average price target of $59.75.

In related news, Director William Doran sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $57.49, for a total transaction of $574,900.00. Following the completion of the sale, the director now directly owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dennis Mcgonigle sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $56.35, for a total value of $845,250.00. Following the sale, the insider now directly owns 612,034 shares of the company’s stock, valued at $34,488,115.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 280,000 shares of company stock valued at $15,693,150. 16.50% of the stock is owned by company insiders.

Shares of SEI Investments Company (SEIC) opened at 57.58 on Monday. SEI Investments Company has a 12-month low of $43.54 and a 12-month high of $58.62. The company’s 50 day moving average is $56.64 and its 200 day moving average is $53.22. The firm has a market capitalization of $9.10 billion, a PE ratio of 26.40 and a beta of 1.33.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.02. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The business had revenue of $372.30 million during the quarter, compared to analysts’ expectations of $369.88 million. During the same period in the prior year, the business earned $0.49 EPS. SEI Investments’s revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts forecast that SEI Investments Company will post $2.28 earnings per share for the current year.

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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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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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