SEI Investments (SEIC) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of SEI Investments (NASDAQ:SEIC) from a buy rating to a strong-buy rating in a research report report published on Thursday morning.

Several other research analysts also recently commented on the stock. Zacks Investment Research downgraded shares of SEI Investments from a buy rating to a hold rating in a research note on Tuesday, March 6th. Oppenheimer reaffirmed a buy rating and issued a $80.00 price target on shares of SEI Investments in a research note on Thursday, February 1st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $73.50.

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Shares of SEI Investments stock opened at $72.61 on Thursday. SEI Investments has a 12 month low of $49.26 and a 12 month high of $78.35. The firm has a market cap of $11,419.96, a price-to-earnings ratio of 29.04, a PEG ratio of 1.87 and a beta of 1.28. The company has a quick ratio of 4.07, a current ratio of 4.14 and a debt-to-equity ratio of 0.02.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 31st. The asset manager reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.15. SEI Investments had a net margin of 26.49% and a return on equity of 26.74%. The business had revenue of $408.22 million for the quarter, compared to the consensus estimate of $397.96 million. During the same quarter in the prior year, the firm posted $0.55 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. sell-side analysts expect that SEI Investments will post 3.24 EPS for the current year.

In related news, EVP Stephen Meyer sold 4,524 shares of the firm’s stock in a transaction dated Wednesday, March 21st. The shares were sold at an average price of $77.59, for a total value of $351,017.16. Following the transaction, the executive vice president now owns 97,748 shares of the company’s stock, valued at approximately $7,584,267.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP N Jeffrey Klauder purchased 3,637 shares of SEI Investments stock in a transaction that occurred on Tuesday, March 13th. The stock was bought at an average cost of $23.86 per share, for a total transaction of $86,778.82. Following the purchase, the executive vice president now directly owns 45,831 shares in the company, valued at $1,093,527.66. The disclosure for this purchase can be found here. Insiders sold a total of 95,348 shares of company stock worth $7,115,112 in the last ninety days. 16.50% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. increased its stake in SEI Investments by 1.9% in the 4th quarter. BlackRock Inc. now owns 13,949,844 shares of the asset manager’s stock worth $1,002,436,000 after buying an additional 254,860 shares during the period. Geode Capital Management LLC increased its position in SEI Investments by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 1,352,174 shares of the asset manager’s stock valued at $97,117,000 after purchasing an additional 35,184 shares during the period. American Capital Management Inc. increased its position in SEI Investments by 0.8% during the 4th quarter. American Capital Management Inc. now owns 856,885 shares of the asset manager’s stock valued at $61,576,000 after purchasing an additional 7,105 shares during the period. Legal & General Group Plc increased its position in SEI Investments by 5.5% during the 3rd quarter. Legal & General Group Plc now owns 667,524 shares of the asset manager’s stock valued at $40,759,000 after purchasing an additional 35,067 shares during the period. Finally, Hahn Capital Management LLC increased its position in SEI Investments by 1.0% during the 3rd quarter. Hahn Capital Management LLC now owns 614,442 shares of the asset manager’s stock valued at $37,518,000 after purchasing an additional 5,815 shares during the period. 70.50% of the stock is currently owned by institutional investors.

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SEI Investments Company Profile

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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