BlackRock Advisors LLC lowered its stake in SEI Investments Co. (NASDAQ:SEIC) by 3.1% during the second quarter, Holdings Channel reports. The fund owned 173,923 shares of the company’s stock after selling 5,532 shares during the period. BlackRock Advisors LLC owned about 0.11% of SEI Investments worth $8,367,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of SEIC. Zebra Capital Management LLC acquired a new position in shares of SEI Investments during the first quarter valued at approximately $522,000. BB&T Securities LLC raised its stake in shares of SEI Investments by 14.9% in the first quarter. BB&T Securities LLC now owns 6,444 shares of the company’s stock valued at $277,000 after buying an additional 835 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of SEI Investments by 292.2% in the first quarter. Canada Pension Plan Investment Board now owns 120,800 shares of the company’s stock valued at $5,200,000 after buying an additional 90,000 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of SEI Investments during the first quarter valued at about $283,000. Finally, Aviva PLC raised its stake in shares of SEI Investments by 0.6% in the first quarter. Aviva PLC now owns 64,863 shares of the company’s stock valued at $2,792,000 after buying an additional 371 shares in the last quarter. 70.29% of the stock is owned by institutional investors.
Shares of SEI Investments Co. (NASDAQ:SEIC) opened at 44.29 on Wednesday. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 23.07 and a beta of 1.26. SEI Investments Co. has a 1-year low of $32.01 and a 1-year high of $55.11. The stock’s 50 day moving average price is $45.54 and its 200-day moving average price is $47.23.
SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 27th. The company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by $0.01. The company earned $343.83 million during the quarter, compared to analysts’ expectations of $346.92 million. SEI Investments had a return on equity of 24.48% and a net margin of 23.67%. SEI Investments’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.51 EPS. On average, equities research analysts forecast that SEI Investments Co. will post $1.92 earnings per share for the current year.
Several analysts have issued reports on SEIC shares. Zacks Investment Research raised SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, September 27th. Keefe, Bruyette & Woods cut their target price on SEI Investments from $51.00 to $47.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th. Finally, Oppenheimer Holdings Inc. cut their target price on SEI Investments from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Thursday, July 28th.
In related news, major shareholder Alfred P. West, Jr. sold 90,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $44.98, for a total transaction of $4,048,200.00. Following the completion of the transaction, the insider now owns 11,641,864 shares in the company, valued at approximately $523,651,042.72. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 17.10% of the company’s stock.
About SEI Investments
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.