First Trust Advisors LP grew its holdings in SEI Investments (NASDAQ:SEIC – Get Rating) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 406,791 shares of the asset manager’s stock after purchasing an additional 46,770 shares during the period. First Trust Advisors LP owned approximately 0.30% of SEI Investments worth $19,953,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Tandem Investment Advisors Inc. acquired a new stake in shares of SEI Investments during the 2nd quarter valued at $36,895,000. State Street Corp lifted its holdings in SEI Investments by 8.0% during the 1st quarter. State Street Corp now owns 6,143,049 shares of the asset manager’s stock worth $369,873,000 after buying an additional 452,434 shares during the period. Renaissance Technologies LLC lifted its holdings in SEI Investments by 1,344.4% during the 2nd quarter. Renaissance Technologies LLC now owns 342,326 shares of the asset manager’s stock worth $18,492,000 after buying an additional 318,626 shares during the period. BlackRock Inc. lifted its holdings in SEI Investments by 2.3% during the 1st quarter. BlackRock Inc. now owns 11,645,954 shares of the asset manager’s stock worth $701,203,000 after buying an additional 260,417 shares during the period. Finally, Millennium Management LLC lifted its holdings in SEI Investments by 45.7% during the 2nd quarter. Millennium Management LLC now owns 722,060 shares of the asset manager’s stock worth $39,006,000 after buying an additional 226,527 shares during the period. Institutional investors own 69.45% of the company’s stock.
Analysts Set New Price Targets
SEIC has been the topic of several recent research reports. TheStreet raised SEI Investments from a “c+” rating to a “b-” rating in a report on Wednesday, November 16th. Oppenheimer lifted their target price on SEI Investments from $65.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, January 26th. Morgan Stanley boosted their price objective on SEI Investments from $53.00 to $54.00 and gave the company an “underweight” rating in a research note on Wednesday, February 1st. StockNews.com downgraded SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, December 23rd. Finally, The Goldman Sachs Group boosted their price objective on SEI Investments from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Wednesday, November 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $60.20.
SEI Investments Price Performance
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its earnings results on Wednesday, January 25th. The asset manager reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. SEI Investments had a return on equity of 26.69% and a net margin of 23.88%. The business had revenue of $456.59 million during the quarter, compared to analyst estimates of $456.18 million. During the same period in the previous year, the company posted $1.03 EPS. The firm’s revenue was down 9.0% compared to the same quarter last year. Analysts anticipate that SEI Investments will post 3.49 EPS for the current year.
Insider Activity at SEI Investments
In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $59.25, for a total transaction of $592,500.00. Following the completion of the sale, the director now directly owns 71,700 shares of the company’s stock, valued at approximately $4,248,225. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 21st. The stock was sold at an average price of $59.25, for a total transaction of $592,500.00. Following the completion of the sale, the director now directly owns 71,700 shares of the company’s stock, valued at approximately $4,248,225. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sanjay Sharma sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The stock was sold at an average price of $64.14, for a total value of $577,260.00. Following the sale, the executive vice president now directly owns 5,165 shares of the company’s stock, valued at $331,283.10. The disclosure for this sale can be found here. Insiders sold 127,502 shares of company stock valued at $7,969,453 in the last three months. Corporate insiders own 25.40% of the company’s stock.
About SEI Investments
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.
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