SEI Investments Company (SEIC) Shares Sold by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. reduced its stake in SEI Investments Company (NASDAQ:SEIC) by 5.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,505 shares of the asset manager’s stock after selling 6,235 shares during the period. PNC Financial Services Group Inc. owned 0.07% of SEI Investments worth $6,267,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of SEIC. Russell Investments Group Ltd. grew its stake in SEI Investments by 254.9% in the 1st quarter. Russell Investments Group Ltd. now owns 81,906 shares of the asset manager’s stock worth $4,132,000 after acquiring an additional 58,830 shares in the last quarter. First Trust Advisors LP bought a new position in SEI Investments in the 1st quarter worth about $713,000. Suntrust Banks Inc. grew its stake in SEI Investments by 1.1% in the 1st quarter. Suntrust Banks Inc. now owns 8,061 shares of the asset manager’s stock worth $405,000 after acquiring an additional 88 shares in the last quarter. World Asset Management Inc grew its stake in SEI Investments by 14.1% in the 1st quarter. World Asset Management Inc now owns 9,304 shares of the asset manager’s stock worth $469,000 after acquiring an additional 1,148 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in SEI Investments by 2.5% in the 1st quarter. UBS Asset Management Americas Inc. now owns 702,422 shares of the asset manager’s stock worth $35,430,000 after acquiring an additional 17,422 shares in the last quarter. Institutional investors and hedge funds own 68.65% of the company’s stock.
A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research note on Thursday, July 27th. BidaskClub upgraded shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a research note on Wednesday, July 12th. Oppenheimer Holdings, Inc. increased their price objective on shares of SEI Investments from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, July 11th. Finally, Mizuho assumed coverage on shares of SEI Investments in a research note on Tuesday, June 27th. They set a “buy” rating and a $60.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $59.75.
SEI Investments Company (SEIC) opened at 59.69 on Monday. SEI Investments Company has a 1-year low of $43.54 and a 1-year high of $59.78. The company has a market capitalization of $9.44 billion, a P/E ratio of 27.37 and a beta of 1.33. The stock’s 50 day moving average is $56.76 and its 200-day moving average is $53.36.
SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 26th. The asset manager reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.02. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. The firm had revenue of $372.30 million for the quarter, compared to the consensus estimate of $369.88 million. During the same period in the prior year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. On average, analysts expect that SEI Investments Company will post $2.28 earnings per share for the current fiscal year.
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In related news, Director William Doran sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total transaction of $574,900.00. Following the sale, the director now directly owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider N Jeffrey Klauder sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $56.35, for a total transaction of $1,690,500.00. Following the sale, the insider now directly owns 82,194 shares in the company, valued at $4,631,631.90. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 295,000 shares of company stock worth $16,712,650. 16.50% of the stock is owned by insiders.
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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