Prudential Financial Inc. increased its stake in shares of SEI Investments Co. (NASDAQ:SEIC) by 73.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,356 shares of the company’s stock after buying an additional 69,000 shares during the period. Prudential Financial Inc. owned about 0.10% of SEI Investments worth $7,859,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Gateway Investment Advisers LLC increased its stake in SEI Investments by 1.1% in the second quarter. Gateway Investment Advisers LLC now owns 4,820 shares of the company’s stock valued at $232,000 after buying an additional 53 shares during the period. Commonwealth Equity Services Inc bought a new stake in SEI Investments during the first quarter valued at $255,000. HL Financial Services LLC bought a new stake in SEI Investments during the second quarter valued at $276,000. BB&T Securities LLC increased its stake in SEI Investments by 14.9% in the first quarter. BB&T Securities LLC now owns 6,444 shares of the company’s stock valued at $277,000 after buying an additional 835 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new stake in SEI Investments during the first quarter valued at $283,000. 70.29% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Co. (NASDAQ:SEIC) traded down 0.67% during midday trading on Friday, hitting $44.81. 685,082 shares of the stock traded hands. SEI Investments Co. has a 52 week low of $32.01 and a 52 week high of $55.11. The stock has a market capitalization of $7.23 billion, a P/E ratio of 23.34 and a beta of 1.26. The stock’s 50-day moving average price is $45.61 and its 200-day moving average price is $47.15.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by $0.01. The firm had revenue of $343.83 million for the quarter, compared to analysts’ expectations of $346.92 million. SEI Investments had a net margin of 23.67% and a return on equity of 24.48%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. Equities research analysts expect that SEI Investments Co. will post $1.92 EPS for the current fiscal year.
Several research firms have weighed in on SEIC. Oppenheimer Holdings Inc. decreased their price target on shares of SEI Investments from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th. Zacks Investment Research downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Tuesday, June 21st. Finally, Keefe, Bruyette & Woods decreased their price target on shares of SEI Investments from $51.00 to $47.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 90,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $44.98, for a total transaction of $4,048,200.00. Following the completion of the sale, the insider now owns 11,641,864 shares of the company’s stock, valued at approximately $523,651,042.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 17.10% of the company’s stock.
About SEI Investments
SEI Investments Company (SEI) is a provider of investment processing, investment management and investment operations solutions. The Company enables corporations, financial institutions, financial advisors and ultra-high-net-worth families to create and manage wealth by providing investment and investment-business solutions.
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