SEI Investments (NASDAQ:SEIC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage currently has a $63.00 price target on the asset manager’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 9.81% from the company’s current price.
According to Zacks, “Shares of SEI Investments have outperformed the industry over the past three months. The company's earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters. Also, earnings estimates have remained stable ahead of the company's first-quarter 2019 results. Solid assets under management (AUM) balance, rising demand for SEI Wealth Platform (SWP) and technological innovations will likely boost the company’s revenue prospects. Although mounting operating expenses and the company's increasing dependence on fee-based income remain major concerns, efficient capital deployment activities reflect strong balance sheet position.”
Other equities research analysts also recently issued reports about the stock. TheStreet raised shares of SEI Investments from a “c+” rating to a “b-” rating in a research report on Tuesday, March 12th. BidaskClub raised shares of SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Oppenheimer reduced their price objective on shares of SEI Investments from $68.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, January 9th. Finally, ValuEngine downgraded shares of SEI Investments from a “hold” rating to a “sell” rating in a research report on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $66.00.
NASDAQ:SEIC opened at $57.37 on Friday. The stock has a market cap of $8.64 billion, a PE ratio of 18.27, a price-to-earnings-growth ratio of 1.52 and a beta of 1.24. SEI Investments has a one year low of $42.27 and a one year high of $71.65.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 30th. The asset manager reported $0.73 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.01). The business had revenue of $405.05 million for the quarter, compared to the consensus estimate of $403.45 million. SEI Investments had a return on equity of 31.48% and a net margin of 31.15%. The company’s revenue was down .8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.75 earnings per share. On average, research analysts anticipate that SEI Investments will post 3.09 EPS for the current year.
In other news, insider Paul Klauder acquired 3,110 shares of SEI Investments stock in a transaction on Tuesday, February 5th. The stock was acquired at an average cost of $49.81 per share, with a total value of $154,909.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kathy Heilig sold 16,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $51.50, for a total transaction of $824,000.00. Following the completion of the sale, the vice president now directly owns 17,891 shares of the company’s stock, valued at $921,386.50. The disclosure for this sale can be found here. Insiders sold a total of 307,103 shares of company stock valued at $16,143,042 over the last ninety days. 17.30% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of SEIC. First Financial Corp IN bought a new position in shares of SEI Investments during the 1st quarter valued at approximately $131,000. Bell Asset Management Ltd grew its position in shares of SEI Investments by 4.1% during the 1st quarter. Bell Asset Management Ltd now owns 165,898 shares of the asset manager’s stock valued at $8,668,000 after acquiring an additional 6,531 shares during the period. DNB Asset Management AS grew its position in shares of SEI Investments by 8.3% during the 1st quarter. DNB Asset Management AS now owns 14,455 shares of the asset manager’s stock valued at $755,000 after acquiring an additional 1,113 shares during the period. Legacy Advisors LLC bought a new position in shares of SEI Investments during the 1st quarter valued at approximately $175,000. Finally, Private Trust Co. NA grew its position in shares of SEI Investments by 24.7% during the 1st quarter. Private Trust Co. NA now owns 10,944 shares of the asset manager’s stock valued at $571,000 after acquiring an additional 2,166 shares during the period. 69.39% of the stock is owned by institutional investors and hedge funds.
About SEI Investments
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.
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