Research analysts at Rosenblatt Securities assumed coverage on shares of SEI Investments (NASDAQ:SEIC) in a report issued on Wednesday, The Fly reports. The firm set a “neutral” rating and a $59.00 price target on the asset manager’s stock. Rosenblatt Securities’ target price points to a potential upside of 14.96% from the company’s current price.
Several other research firms also recently issued reports on SEIC. BidaskClub downgraded SEI Investments from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine downgraded SEI Investments from a “hold” rating to a “sell” rating in a report on Monday, October 8th. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a report on Thursday, August 23rd. Finally, Keefe, Bruyette & Woods upgraded SEI Investments from a “market perform” rating to an “outperform” rating and cut their price objective for the company from $68.00 to $63.00 in a report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. SEI Investments currently has a consensus rating of “Hold” and an average price target of $72.83.
SEIC stock opened at $51.32 on Wednesday. The firm has a market capitalization of $7.98 billion, a P/E ratio of 22.12, a PEG ratio of 1.34 and a beta of 1.21. SEI Investments has a 12-month low of $49.57 and a 12-month high of $78.35.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Tuesday, October 23rd. The asset manager reported $0.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.04. The firm had revenue of $408.68 million for the quarter, compared to the consensus estimate of $410.35 million. SEI Investments had a return on equity of 30.73% and a net margin of 31.46%. The company’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 EPS. As a group, research analysts forecast that SEI Investments will post 3.19 earnings per share for the current fiscal year.
In related news, insider Dennis Mcgonigle sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $62.83, for a total transaction of $942,450.00. Following the completion of the transaction, the insider now directly owns 27,540 shares of the company’s stock, valued at approximately $1,730,338.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Alfred P. West, Jr. sold 145,238 shares of the business’s stock in a transaction on Wednesday, November 21st. The stock was sold at an average price of $52.76, for a total value of $7,662,756.88. Following the transaction, the insider now directly owns 10,386,713 shares of the company’s stock, valued at $548,002,977.88. The disclosure for this sale can be found here. Insiders have sold a total of 521,226 shares of company stock valued at $27,829,995 over the last three months. 16.50% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SEIC. BlackRock Inc. grew its stake in SEI Investments by 3.6% during the 3rd quarter. BlackRock Inc. now owns 13,870,716 shares of the asset manager’s stock worth $847,500,000 after purchasing an additional 485,625 shares in the last quarter. Millennium Management LLC grew its stake in SEI Investments by 111.3% during the 2nd quarter. Millennium Management LLC now owns 837,744 shares of the asset manager’s stock worth $52,376,000 after purchasing an additional 441,285 shares in the last quarter. Prana Capital Management LP acquired a new position in SEI Investments during the 2nd quarter worth $20,768,000. Franklin Resources Inc. grew its stake in SEI Investments by 2,356.3% during the 3rd quarter. Franklin Resources Inc. now owns 284,533 shares of the asset manager’s stock worth $17,385,000 after purchasing an additional 272,949 shares in the last quarter. Finally, Janus Henderson Group PLC grew its stake in SEI Investments by 30.9% during the 2nd quarter. Janus Henderson Group PLC now owns 1,134,674 shares of the asset manager’s stock worth $70,940,000 after purchasing an additional 268,000 shares in the last quarter. 69.31% of the stock is owned by hedge funds and other institutional investors.
About SEI Investments
SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.
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