SEI Investments (NASDAQ:SEIC) was the recipient of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 1,417,100 shares, a decrease of 28.0% from the July 31st total of 1,968,300 shares. Based on an average daily volume of 520,900 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.1% of the company’s stock are sold short.
In other news, insider Dennis Mcgonigle sold 19,722 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $58.19, for a total value of $1,147,623.18. Following the completion of the sale, the insider now directly owns 587,262 shares of the company’s stock, valued at $34,172,775.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kathryn Mccarthy sold 9,500 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $60.90, for a total value of $578,550.00. Following the completion of the sale, the director now directly owns 75,200 shares of the company’s stock, valued at $4,579,680. The disclosure for this sale can be found here. Insiders sold 34,222 shares of company stock valued at $2,017,423 over the last ninety days. 22.60% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. purchased a new stake in shares of SEI Investments during the second quarter worth approximately $35,000. Machina Capital S.A.S. purchased a new position in SEI Investments in the second quarter worth $48,000. Flagship Harbor Advisors LLC raised its position in SEI Investments by 28.6% in the second quarter. Flagship Harbor Advisors LLC now owns 900 shares of the asset manager’s stock worth $50,000 after acquiring an additional 200 shares in the last quarter. Global Retirement Partners LLC raised its position in SEI Investments by 73.0% in the first quarter. Global Retirement Partners LLC now owns 1,322 shares of the asset manager’s stock worth $69,000 after acquiring an additional 558 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its position in SEI Investments by 336.5% in the first quarter. Rockefeller Capital Management L.P. now owns 1,724 shares of the asset manager’s stock worth $90,000 after acquiring an additional 1,329 shares in the last quarter. Institutional investors and hedge funds own 69.33% of the company’s stock.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.82 EPS for the quarter, topping the Thomson Reuters’ 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 prior year, the business earned $0.75 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts anticipate that SEI Investments will post 3.22 earnings per share for the current fiscal year.
Several equities research analysts have recently weighed in on the company. BidaskClub raised SEI Investments from a “buy” rating to a “strong-buy” rating in a report on Thursday. Zacks Investment Research downgraded SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 price objective for the company. in a report on Tuesday, June 11th. Finally, ValuEngine raised SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. SEI Investments presently has an average rating of “Hold” and an average target price of $61.50.
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.
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