SEI Investments Company (SEIC) Upgraded to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of SEI Investments Company (NASDAQ:SEIC) from a sell rating to a hold rating in a research note published on Tuesday morning.
According to Zacks, “SEI Investments’ shares have outperformed the industry in a year’s time. The performance was supported by the company’s impressive earnings surprise history. It surpassed the Zacks Consensus Estimate for earnings in all the trailing four quarters. Moreover, the company is well positioned for organic growth, given its innovative and diverse global investment products and services. Given a solid capital position, the company is expected to continue to enhance shareholder value through efficient capital deployment activities. However, persistently increasing expenses due to additional investment spending on services will likely hurt bottom line growth. Also, increased exposure to fee-based revenue sources might hurt its financials.”
SEIC has been the topic of a number of other reports. BidaskClub cut SEI Investments from a strong-buy rating to a buy rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $58.00 price objective on shares of SEI Investments in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. upped their price objective on shares of SEI Investments from $60.00 to $67.00 and gave the company an outperform rating in a report on Thursday, September 28th. Finally, Mizuho initiated coverage on shares of SEI Investments in a research report on Tuesday, June 27th. They set a buy rating and a $60.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $61.50.
Shares of SEI Investments (SEIC) traded down 0.02% on Tuesday, hitting $62.55. 154,436 shares of the company’s stock were exchanged. The firm has a market cap of $9.89 billion, a P/E ratio of 28.68 and a beta of 1.35. SEI Investments has a 12 month low of $43.54 and a 12 month high of $62.69. The stock’s 50 day moving average is $58.02 and its 200 day moving average is $54.01.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 26th. The asset manager reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.02. The firm had revenue of $372.30 million for the quarter, compared to analysts’ expectations of $369.88 million. SEI Investments had a return on equity of 26.60% and a net margin of 24.44%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.49 EPS. On average, equities analysts predict that SEI Investments will post $2.28 earnings per share for the current year.
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In other news, insider Stephen Meyer sold 20,000 shares of the stock in a transaction dated 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 sale, the insider now directly owns 113,224 shares of the company’s stock, valued at $6,964,408.24. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Alfred P. West, Jr. sold 100,000 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $56.40, for a total transaction of $5,640,000.00. Following the completion of the sale, the insider now directly owns 10,836,282 shares in the company, valued at $611,166,304.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 325,000 shares of company stock worth $18,540,250. Company insiders own 16.50% of the company’s stock.
A number of large investors have recently modified their holdings of SEIC. BlackRock Inc. increased its holdings in SEI Investments by 3,644.6% during the 1st quarter. BlackRock Inc. now owns 12,750,729 shares of the asset manager’s stock worth $643,148,000 after acquiring an additional 12,410,221 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in SEI Investments by 47.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after purchasing an additional 615,539 shares in the last quarter. Vanguard Group Inc. boosted its holdings in SEI Investments by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 12,903,413 shares of the asset manager’s stock valued at $650,849,000 after purchasing an additional 595,691 shares during the period. Balyasny Asset Management LLC boosted its holdings in SEI Investments by 386.9% in the 2nd quarter. Balyasny Asset Management LLC now owns 286,738 shares of the asset manager’s stock valued at $15,421,000 after purchasing an additional 227,849 shares during the period. Finally, JLB & Associates Inc. bought a new position in SEI Investments in the 2nd quarter valued at $11,631,000. 68.65% of the stock is owned by institutional investors.
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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