Macquarie Group Ltd. reduced its position in SEI Investments Co. (NASDAQ:SEIC) by 66.0% during the second quarter, Holdings Channel reports. The fund owned 18,960 shares of the company’s stock after selling 36,846 shares during the period. Macquarie Group Ltd.’s holdings in SEI Investments were worth $912,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in SEIC. M&T Bank Corp increased its stake in shares of SEI Investments by 3.0% in the first quarter. M&T Bank Corp now owns 19,954 shares of the company’s stock valued at $860,000 after buying an additional 575 shares during the last quarter. Menta Capital LLC bought a new stake in shares of SEI Investments during the first quarter valued at $538,000. JPMorgan Chase & Co. increased its stake in shares of SEI Investments by 70.0% in the first quarter. JPMorgan Chase & Co. now owns 586,533 shares of the company’s stock valued at $25,251,000 after buying an additional 241,599 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of SEI Investments by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,263,846 shares of the company’s stock valued at $183,559,000 after buying an additional 104,011 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in shares of SEI Investments by 0.6% in the first quarter. BlackRock Group LTD now owns 867,393 shares of the company’s stock valued at $37,342,000 after buying an additional 5,454 shares during the last quarter. Institutional investors own 70.29% of the company’s stock.
SEI Investments Co. (NASDAQ:SEIC) opened at 46.62 on Friday. SEI Investments Co. has a 1-year low of $32.01 and a 1-year high of $55.11. The stock has a market capitalization of $7.52 billion, a PE ratio of 24.28 and a beta of 1.28. The stock’s 50 day moving average price is $45.89 and its 200 day moving average price is $46.76.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.49 earnings per share for the quarter, missing the 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 business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.51 EPS. On average, equities research analysts predict that SEI Investments Co. will post $1.92 earnings per share for the current fiscal year.
Several brokerages have weighed in on SEIC. Zacks Investment Research downgraded SEI Investments from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. Keefe, Bruyette & Woods reduced their target price on SEI Investments from $51.00 to $47.00 and set a “market perform” rating on the stock in a research note on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. reduced their target price on SEI Investments from $56.00 to $53.00 and set an “outperform” rating on the stock 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 firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $44.98, for a total transaction of $4,048,200.00. Following the completion of the transaction, the insider now owns 11,641,864 shares in the company, valued at approximately $523,651,042.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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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