SEI Investments Company (SEIC) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of SEI Investments Company (NASDAQ:SEIC) from a sell rating to a hold rating in a research report released on Tuesday morning.

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. Also, robust asset inflows are likely to be accretive to the company’s overall growth. However, elevated expense levels are expected to continue in the quarters ahead, which will likely hurt the bottom line growth. Moreover, increased reliance on fee-based revenues remains primary near-term concerns.”

Shares of SEI Investments Company (NASDAQ:SEIC) opened at 52.25 on Tuesday. The firm has a 50-day moving average price of $50.33 and a 200 day moving average price of $47.95. SEI Investments Company has a 12 month low of $40.12 and a 12 month high of $52.60. The company has a market cap of $8.32 billion, a P/E ratio of 25.74 and a beta of 1.45.

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

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In related news, insider Stephen Meyer sold 10,000 shares of the stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $51.26, for a total transaction of $512,600.00. Following the completion of the sale, the insider now owns 103,224 shares in the company, valued at $5,291,262.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Alfred P. West, Jr. sold 65,000 shares of the stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $49.00, for a total value of $3,185,000.00. Following the sale, the insider now owns 11,282,282 shares of the company’s stock, valued at approximately $552,831,818. The disclosure for this sale can be found here. Insiders have sold 296,563 shares of company stock valued at $14,734,283 in the last quarter. 17.10% of the stock is currently owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SEIC. Norges Bank purchased a new position in SEI Investments Company during the fourth quarter valued at $59,960,000. American Capital Management Inc. purchased a new position in SEI Investments Company during the third quarter valued at $32,666,000. Loomis Sayles & Co. L P boosted its position in SEI Investments Company by 5.0% in the fourth quarter. Loomis Sayles & Co. L P now owns 14,046,827 shares of the company’s stock valued at $693,351,000 after buying an additional 663,205 shares in the last quarter. Hermes Investment Management Ltd. purchased a new position in SEI Investments Company during the third quarter valued at $16,088,000. Finally, Frontier Capital Management Co. LLC purchased a new position in SEI Investments Company during the fourth quarter valued at $14,229,000. Institutional investors and hedge funds own 70.81% of the company’s stock.

About SEI Investments Company

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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