SEI Investments (SEIC) Rating Lowered to Market Perform at Keefe, Bruyette & Woods

SEI Investments (NASDAQ:SEIC) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued on Sunday, Marketbeat reports. They presently have a $64.00 target price on the asset manager’s stock, up from their previous target price of $56.00. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 12.32% from the company’s previous close.

SEIC has been the topic of a number of other research reports. Zacks Investment Research cut SEI Investments from a “hold” rating to a “strong sell” rating in a report on Thursday, January 17th. Oppenheimer lowered their price target on SEI Investments from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, January 9th. BidaskClub upgraded SEI Investments from a “strong sell” rating to a “sell” rating in a report on Saturday, March 16th. TheStreet upgraded SEI Investments from a “c+” rating to a “b-” rating in a report on Tuesday, March 12th. Finally, ValuEngine cut SEI Investments from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $66.20.

Shares of SEIC stock opened at $56.98 on Friday. The company has a market cap of $8.82 billion, a PE ratio of 18.15, a price-to-earnings-growth ratio of 1.52 and a beta of 1.24. SEI Investments has a 12-month low of $42.27 and a 12-month high of $71.65.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 30th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). The firm had revenue of $405.05 million during the quarter, compared to analyst estimates of $403.45 million. SEI Investments had a return on equity of 31.48% and a net margin of 31.15%. The business’s revenue was down .8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 EPS. As a group, research analysts anticipate that SEI Investments will post 3.09 earnings per share for the current year.

In related news, insider Paul Klauder bought 3,110 shares of the stock in a transaction on Tuesday, February 5th. The shares were purchased at an average price of $49.81 per share, for a total transaction of $154,909.10. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 116,412 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.03, for a total value of $6,173,328.36. Following the sale, the insider now owns 9,811,713 shares in the company, valued at approximately $520,315,140.39. The disclosure for this sale can be found here. In the last quarter, insiders have sold 307,103 shares of company stock worth $16,143,042. 17.30% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in SEIC. Mn Services Vermogensbeheer B.V. boosted its holdings in shares of SEI Investments by 7.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 22,584 shares of the asset manager’s stock worth $913,000 after purchasing an additional 1,600 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of SEI Investments by 27.4% during the fourth quarter. Korea Investment CORP now owns 325,100 shares of the asset manager’s stock worth $15,020,000 after purchasing an additional 70,000 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of SEI Investments by 11.5% during the fourth quarter. Advisor Group Inc. now owns 17,037 shares of the asset manager’s stock worth $789,000 after purchasing an additional 1,757 shares during the last quarter. Two Sigma Investments LP boosted its holdings in shares of SEI Investments by 132.4% during the fourth quarter. Two Sigma Investments LP now owns 492,547 shares of the asset manager’s stock worth $22,756,000 after purchasing an additional 280,615 shares during the last quarter. Finally, BB&T Corp boosted its holdings in shares of SEI Investments by 0.8% during the fourth quarter. BB&T Corp now owns 99,424 shares of the asset manager’s stock worth $4,593,000 after purchasing an additional 808 shares during the last quarter. Hedge funds and other institutional investors own 69.39% of the company’s stock.

SEI Investments Company Profile

SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.

Further Reading: Hedge Funds

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