StockNews.com Begins Coverage on SEI Investments (NASDAQ:SEIC)

Research analysts at StockNews.com initiated coverage on shares of SEI Investments (NASDAQ:SEIC – Get Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the asset manager’s stock.

Several other brokerages have also recently issued reports on SEIC. The Goldman Sachs Group increased their target price on shares of SEI Investments from $56.00 to $63.00 and gave the stock a “neutral” rating in a report on Wednesday, November 23rd. Morgan Stanley increased their target price on shares of SEI Investments from $53.00 to $54.00 and gave the stock an “underweight” rating in a report on Wednesday, February 1st. Oppenheimer increased their target price on shares of SEI Investments from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Finally, TheStreet upgraded shares of SEI Investments from a “c+” rating to a “b-” rating in a report on Wednesday, November 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $60.20.

SEI Investments Stock Down 0.8 %

SEIC stock traded down $0.44 during trading on Thursday, hitting $55.14. The company had a trading volume of 1,093,184 shares, compared to its average volume of 475,944. The firm has a market capitalization of $7.40 billion, a P/E ratio of 15.98, a PEG ratio of 1.33 and a beta of 1.02. SEI Investments has a 52-week low of $46.30 and a 52-week high of $64.69. The company has a 50 day simple moving average of $60.97 and a 200-day simple moving average of $57.55.

SEI Investments (NASDAQ:SEIC – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The asset manager reported $0.83 EPS for the quarter, topping the consensus estimate of $0.79 by $0.04. SEI Investments had a net margin of 23.88% and a return on equity of 26.69%. The company had revenue of $456.59 million for the quarter, compared to the consensus estimate of $456.18 million. During the same quarter last year, the firm posted $1.03 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year. Sell-side analysts forecast that SEI Investments will post 3.49 earnings per share for the current year.

Insider Activity

In other news, Director Sarah Blumenstein sold 24,454 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $61.25, for a total value of $1,497,807.50. Following the sale, the director now directly owns 6,447 shares in the company, valued at approximately $394,878.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Sarah Blumenstein sold 24,454 shares of the firm’s stock in a transaction dated Friday, February 17th. The shares were sold at an average price of $61.25, for a total value of $1,497,807.50. Following the sale, the director now directly owns 6,447 shares in the company, valued at approximately $394,878.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 37,566 shares of the stock in a transaction that occurred on Wednesday, February 8th. The shares were sold at an average price of $63.59, for a total transaction of $2,388,821.94. Following the completion of the transaction, the chairman now directly owns 8,813,217 shares of the company’s stock, valued at $560,432,469.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 127,502 shares of company stock worth $7,969,453. Corporate insiders own 25.40% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Hedge funds and other institutional investors have recently modified their holdings of the stock. CIBC Asset Management Inc raised its position in shares of SEI Investments by 38.0% in the 3rd quarter. CIBC Asset Management Inc now owns 8,596 shares of the asset manager’s stock valued at $422,000 after purchasing an additional 2,368 shares during the last quarter. Ergoteles LLC purchased a new position in SEI Investments during the 3rd quarter worth approximately $379,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in SEI Investments by 28.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,339 shares of the asset manager’s stock worth $801,000 after buying an additional 3,630 shares during the last quarter. Bessemer Group Inc. raised its position in SEI Investments by 790.8% during the 3rd quarter. Bessemer Group Inc. now owns 1,158 shares of the asset manager’s stock worth $57,000 after buying an additional 1,028 shares during the last quarter. Finally, WINTON GROUP Ltd raised its position in SEI Investments by 12.0% during the 3rd quarter. WINTON GROUP Ltd now owns 34,800 shares of the asset manager’s stock worth $1,707,000 after buying an additional 3,742 shares during the last quarter. 69.45% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Company Profile

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SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.