SEI Investments Company (NASDAQ:SEIC) – Equities research analysts at William Blair lifted their FY2018 earnings per share (EPS) estimates for shares of SEI Investments in a report issued on Wednesday, Zacks Investment Research reports. William Blair analyst C. Shutler now anticipates that the asset manager will post earnings of $2.78 per share for the year, up from their previous estimate of $2.72. William Blair also issued estimates for SEI Investments’ Q4 2018 earnings at $0.73 EPS.
SEIC has been the topic of a number of other reports. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Monday, October 30th. Mizuho reaffirmed a “buy” rating and set a $65.00 target price on shares of SEI Investments in a research note on Friday, October 20th. Oppenheimer Holdings, Inc. lifted their target price on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, BidaskClub downgraded shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. SEI Investments currently has an average rating of “Buy” and a consensus price target of $65.50.
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SEI Investments (NASDAQ SEIC) opened at $64.68 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41. The firm has a market cap of $10,185.35, a PE ratio of 28.12, a PEG ratio of 2.29 and a beta of 1.38. SEI Investments has a 52 week low of $44.64 and a 52 week high of $66.00.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The firm had revenue of $368.02 million for the quarter, compared to the consensus estimate of $384.43 million. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the firm posted $0.53 earnings per share.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in SEI Investments by 5.5% during the 2nd quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock worth $723,225,000 after acquiring an additional 697,125 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in SEI Investments by 47.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after acquiring an additional 615,539 shares in the last quarter. Vanguard Group Inc. grew its holdings in SEI Investments by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock worth $713,155,000 after acquiring an additional 357,187 shares in the last quarter. Frontier Capital Management Co. LLC grew its holdings in SEI Investments by 51.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock worth $59,130,000 after acquiring an additional 328,037 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in SEI Investments by 88.3% during the 3rd quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock worth $31,123,000 after acquiring an additional 239,000 shares in the last quarter. Hedge funds and other institutional investors own 69.25% of the company’s stock.
In related news, insider Stephen Meyer sold 20,000 shares of SEI Investments stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $61.51, for a total value of $1,230,200.00. Following the completion of the transaction, the insider now owns 113,224 shares in the company, valued at $6,964,408.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Doran sold 10,000 shares of SEI Investments 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 completion of the transaction, the director now owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The disclosure for this sale can be found here. Insiders sold a total of 157,500 shares of company stock worth $9,772,250 over the last three months. Insiders own 16.50% of the company’s stock.
SEI Investments declared that its board has approved a stock repurchase program on Wednesday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.
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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