SEI Investments (NASDAQ:SEIC) Cut to “Buy” at BidaskClub

BidaskClub downgraded shares of SEI Investments (NASDAQ:SEIC) from a strong-buy rating to a buy rating in a report published on Friday, BidAskClub reports.

Several other equities analysts have also recently weighed in on the company. William Blair reissued a market perform rating on shares of SEI Investments in a research report on Monday, April 22nd. ValuEngine raised SEI Investments from a sell rating to a hold rating in a research report on Tuesday, June 11th. Finally, Zacks Investment Research cut SEI Investments from a buy rating to a hold rating and set a $63.00 price objective for the company. in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. SEI Investments has an average rating of Hold and a consensus price target of $61.50.

SEIC opened at $56.56 on Friday. The company has a market cap of $8.38 billion, a PE ratio of 18.01, a price-to-earnings-growth ratio of 1.44 and a beta of 1.31. The stock has a 50-day moving average of $57.27 and a 200-day moving average of $53.98. SEI Investments has a 52-week low of $42.27 and a 52-week high of $64.21. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.61 and a current ratio of 5.78.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.03. SEI Investments had a return on equity of 29.86% and a net margin of 29.85%. The business had revenue of $409.60 million during the quarter, compared to analysts’ expectations of $412.28 million. During the same quarter in the previous year, the firm earned $0.75 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that SEI Investments will post 3.22 earnings per share for the current year.

In related news, insider Dennis Mcgonigle sold 19,722 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $58.19, for a total transaction of $1,147,623.18. Following the completion of the transaction, the insider now owns 587,262 shares of the company’s stock, valued at approximately $34,172,775.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Blumenstein sold 5,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $58.25, for a total value of $291,250.00. Following the transaction, the director now directly owns 10,681 shares of the company’s stock, valued at approximately $622,168.25. The disclosure for this sale can be found here. Insiders have sold a total of 34,222 shares of company stock valued at $2,017,423 in the last three months. 22.60% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the business. Arizona State Retirement System raised its holdings in SEI Investments by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 92,985 shares of the asset manager’s stock valued at $5,216,000 after acquiring an additional 284 shares in the last quarter. BTIM Corp. raised its holdings in SEI Investments by 10.6% in the 2nd quarter. BTIM Corp. now owns 366,821 shares of the asset manager’s stock valued at $20,578,000 after acquiring an additional 35,283 shares in the last quarter. Shell Asset Management Co. raised its holdings in SEI Investments by 107.9% in the 1st quarter. Shell Asset Management Co. now owns 9,553 shares of the asset manager’s stock valued at $499,000 after acquiring an additional 4,959 shares in the last quarter. Confluence Investment Management LLC raised its holdings in SEI Investments by 4.2% in the 2nd quarter. Confluence Investment Management LLC now owns 347,974 shares of the asset manager’s stock valued at $19,521,000 after acquiring an additional 14,004 shares in the last quarter. Finally, FDx Advisors Inc. acquired a new position in SEI Investments in the 2nd quarter valued at approximately $362,000. 69.65% of the stock is owned by hedge funds and other institutional investors.

About SEI Investments

SEI Investments Company 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.

See Also: How does quantitative easing work?

Receive News & Ratings for SEI Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments and related companies with MarketBeat.com's FREE daily email newsletter.