SEI Investments (NASDAQ:SEIC) Short Interest Down 25.0% in September

SEI Investments (NASDAQ:SEIC) was the target of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 1,320,000 shares, a decrease of 25.0% from the September 15th total of 1,760,000 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 567,200 shares, the days-to-cover ratio is currently 2.3 days.

NASDAQ SEIC opened at $55.69 on Friday. The business has a fifty day moving average price of $51.98 and a 200 day moving average price of $52.53. The company has a market cap of $8.16 billion, a P/E ratio of 17.96, a P/E/G ratio of 1.40 and a beta of 1.23. SEI Investments has a one year low of $35.40 and a one year high of $69.61.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $0.68 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.68. The company had revenue of $400.65 million during the quarter, compared to analysts’ expectations of $403.16 million. SEI Investments had a return on equity of 27.38% and a net margin of 28.47%. During the same period in the prior year, the business earned $0.82 EPS. On average, research analysts predict that SEI Investments will post 2.98 EPS for the current fiscal year.

In other news, major shareholder Alfred P. West, Jr. sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $50.06, for a total transaction of $1,752,100.00. Following the completion of the transaction, the insider now directly owns 9,546,977 shares of the company’s stock, valued at approximately $477,921,668.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Dennis Mcgonigle sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $51.60, for a total value of $1,032,000.00. Following the transaction, the executive vice president now directly owns 592,534 shares of the company’s stock, valued at $30,574,754.40. The disclosure for this sale can be found here. Corporate insiders own 23.86% of the company’s stock.

A number of large investors have recently modified their holdings of SEIC. Ovata Capital Management Ltd purchased a new stake in SEI Investments in the 2nd quarter valued at $30,000. Captrust Financial Advisors purchased a new stake in SEI Investments in the 2nd quarter valued at $35,000. Rockbridge Investment Management LCC purchased a new stake in SEI Investments in the 2nd quarter valued at $36,000. Cerebellum GP LLC purchased a new stake in SEI Investments in the 2nd quarter valued at $42,000. Finally, Toth Financial Advisory Corp purchased a new stake in SEI Investments in the 3rd quarter valued at $43,000. Institutional investors own 70.92% of the company’s stock.

Several research analysts have recently weighed in on SEIC shares. Rosenblatt Securities reaffirmed a “neutral” rating on shares of SEI Investments in a research note on Monday, August 10th. BidaskClub raised SEI Investments from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 7th. Oppenheimer increased their price objective on SEI Investments from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Zacks Investment Research downgraded SEI Investments from a “buy” rating to a “hold” rating and set a $53.00 price objective for the company. in a research note on Wednesday, September 9th. Finally, TheStreet downgraded SEI Investments from a “b-” rating to a “c+” rating in a research note on Wednesday, September 23rd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $57.00.

SEI Investments Company Profile

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.

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