Wells Fargo & Company MN trimmed its holdings in SEI Investments Company (NASDAQ:SEIC) by 94.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,303 shares of the asset manager’s stock after selling 2,125,589 shares during the quarter. Wells Fargo & Company MN owned about 0.07% of SEI Investments worth $6,148,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in SEI Investments by 6.5% during the 1st quarter. Van ECK Associates Corp now owns 2,222 shares of the asset manager’s stock valued at $112,000 after purchasing an additional 136 shares in the last quarter. Pacer Advisors Inc. boosted its stake in SEI Investments by 3.2% during the 1st quarter. Pacer Advisors Inc. now owns 2,472 shares of the asset manager’s stock valued at $125,000 after purchasing an additional 77 shares in the last quarter. Mosaic Family Wealth LLC boosted its stake in SEI Investments by 6.7% during the 2nd quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 200 shares in the last quarter. Wedbush Securities Inc. bought a new position in SEI Investments during the 2nd quarter valued at $208,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in SEI Investments during the 1st quarter valued at $224,000. 68.65% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Company (SEIC) opened at 63.37 on Wednesday. The firm’s 50-day moving average is $58.98 and its 200 day moving average is $54.44. The firm has a market capitalization of $10.02 billion, a P/E ratio of 29.06 and a beta of 1.35. SEI Investments Company has a 52-week low of $43.54 and a 52-week high of $63.37.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data 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. The company had revenue of $372.30 million for the quarter, compared to analyst estimates of $369.88 million. SEI Investments had a net margin of 24.44% and a return on equity of 26.60%. SEI Investments’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 EPS. Equities analysts anticipate that SEI Investments Company will post $2.28 EPS for the current year.
A number of equities research analysts have recently commented on SEIC shares. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. increased their target price on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 target price for the company in a report on Wednesday, July 12th. Finally, Mizuho assumed coverage on SEI Investments in a report on Tuesday, June 27th. They issued a “buy” rating and a $60.00 target price for the company. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $61.50.
In other SEI Investments news, insider N Jeffrey Klauder sold 30,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $56.35, for a total transaction of $1,690,500.00. Following the transaction, the insider now owns 82,194 shares in the company, valued at approximately $4,631,631.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen Meyer sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the transaction, the insider now owns 113,224 shares in the company, valued at approximately $6,964,408.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 325,000 shares of company stock worth $18,540,250. 16.50% of the stock is owned by company 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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