Confluence Investment Management LLC raised its holdings in SEI Investments (NASDAQ:SEIC) by 1.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 389,329 shares of the asset manager’s stock after buying an additional 5,567 shares during the period. Confluence Investment Management LLC owned 0.27% of SEI Investments worth $23,722,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of SEIC. Pensionfund DSM Netherlands grew its stake in shares of SEI Investments by 31.7% in the first quarter. Pensionfund DSM Netherlands now owns 49,800 shares of the asset manager’s stock valued at $3,034,000 after buying an additional 12,000 shares in the last quarter. Legacy Wealth Asset Management LLC bought a new position in shares of SEI Investments in the 4th quarter valued at about $412,000. Amundi Pioneer Asset Management Inc. increased its stake in shares of SEI Investments by 38.0% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 95,533 shares of the asset manager’s stock worth $5,490,000 after purchasing an additional 26,307 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of SEI Investments during the 4th quarter worth about $283,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of SEI Investments by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,029,900 shares of the asset manager’s stock valued at $59,185,000 after purchasing an additional 18,453 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on the company. The Goldman Sachs Group began coverage on SEI Investments in a research report on Wednesday, January 6th. They set a “buy” rating and a $70.50 price target on the stock. Raymond James reissued a “hold” rating on shares of SEI Investments in a report on Monday, January 11th. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research note on Friday, January 29th. Finally, Morgan Stanley lifted their price objective on shares of SEI Investments from $74.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 1st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $63.10.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Tuesday, January 26th. The asset manager reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.06. SEI Investments had a net margin of 27.06% and a return on equity of 26.05%. The business had revenue of $443.72 million for the quarter, compared to the consensus estimate of $435.34 million. During the same period in the prior year, the company posted $0.84 earnings per share. SEI Investments’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments will post 2.94 EPS for the current year.
In other news, major shareholder Alfred P. West, Jr. sold 45,951 shares of the company’s stock in a transaction on Friday, February 12th. The stock was sold at an average price of $57.51, for a total transaction of $2,642,642.01. Following the completion of the sale, the insider now directly owns 9,356,566 shares in the company, valued at approximately $538,096,110.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 54,043 shares of the stock in a transaction on Wednesday, February 17th. The stock was sold at an average price of $58.20, for a total value of $3,145,302.60. Following the sale, the insider now directly owns 9,356,566 shares in the company, valued at $544,552,141.20. The disclosure for this sale can be found here. Insiders have sold 109,994 shares of company stock worth $6,373,795 over the last ninety days. Insiders own 23.86% of the company’s stock.
SEI Investments Company Profile
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
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