SEI Investments Company (SEIC) Raised to “Hold” at Zacks Investment Research

SEI Investments Company (NASDAQ:SEIC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday.

According to Zacks, “SEI Investments shares outperformed the Zacks categorized Investment management industry over the last six months. The company is well positioned for organic growth, given its innovative and diverse global investment products and services. Further, robust asset growth will support profitability, going forward. However, elevated expense levels are expected to continue in the quarters ahead, which will likely hurt the bottom line growth. Also, increased reliance on fee-based revenues and the adverse impact of various regulatory restrictions remain primary near-term concerns.”

Shares of SEI Investments Company (NASDAQ:SEIC) traded down 0.06% during trading on Monday, reaching $52.17. 1,154,868 shares of the company traded hands. The company’s 50-day moving average price is $50.33 and its 200-day moving average price is $47.95. The company has a market capitalization of $8.30 billion, a P/E ratio of 25.70 and a beta of 1.45. SEI Investments Company has a 52 week low of $40.12 and a 52 week high of $52.60.

SEI Investments Company (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, January 25th. The company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.04. SEI Investments Company had a net margin of 23.82% and a return on equity of 25.53%. The firm had revenue of $368.80 million for the quarter, compared to analysts’ expectations of $362.34 million. During the same quarter in the prior year, the business earned $0.48 EPS. The business’s quarterly revenue was up 10.0% on a year-over-year basis. Equities research analysts forecast that SEI Investments Company will post $2.21 EPS for the current fiscal year.

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In other news, insider Stephen Meyer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $51.26, for a total value of $512,600.00. Following the transaction, the insider now owns 103,224 shares in the company, valued at approximately $5,291,262.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Blumenstein sold 3,063 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of $50.45, for a total transaction of $154,528.35. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at approximately $441,134.80. The disclosure for this sale can be found here. Insiders sold a total of 296,563 shares of company stock worth $14,734,283 in the last quarter. Company insiders own 17.10% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Van ECK Associates Corp boosted its position in shares of SEI Investments Company by 5.1% in the fourth quarter. Van ECK Associates Corp now owns 2,086 shares of the company’s stock valued at $103,000 after buying an additional 101 shares during the period. Mosaic Family Wealth LLC boosted its position in shares of SEI Investments Company by 12.9% in the third quarter. Mosaic Family Wealth LLC now owns 2,873 shares of the company’s stock valued at $131,000 after buying an additional 328 shares during the period. MSI Financial Services Inc boosted its position in shares of SEI Investments Company by 21.9% in the third quarter. MSI Financial Services Inc now owns 3,412 shares of the company’s stock valued at $156,000 after buying an additional 614 shares during the period. Tredje AP fonden boosted its position in shares of SEI Investments Company by 42.9% in the fourth quarter. Tredje AP fonden now owns 4,860 shares of the company’s stock valued at $241,000 after buying an additional 1,460 shares during the period. Finally, Cigna Investments Inc. New acquired a new position in shares of SEI Investments Company during the fourth quarter valued at $241,000. Hedge funds and other institutional investors own 70.81% of the company’s stock.

SEI Investments Company Company Profile

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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