Eagle Ridge Investment Management Cuts Stock Position in SEI Investments (NASDAQ:SEIC)
Eagle Ridge Investment Management lessened its stake in SEI Investments (NASDAQ:SEIC) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 133,669 shares of the asset manager’s stock after selling 3,791 shares during the quarter. Eagle Ridge Investment Management owned approximately 0.09% of SEI Investments worth $7,499,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of SEIC. DekaBank Deutsche Girozentrale grew its holdings in shares of SEI Investments by 35.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 10,479 shares of the asset manager’s stock worth $609,000 after buying an additional 2,749 shares in the last quarter. Advisory Services Network LLC lifted its position in SEI Investments by 16.6% in the second quarter. Advisory Services Network LLC now owns 20,922 shares of the asset manager’s stock valued at $1,174,000 after buying an additional 2,979 shares during the last quarter. Pendal Group Ltd lifted its position in SEI Investments by 5.2% in the second quarter. Pendal Group Ltd now owns 19,429 shares of the asset manager’s stock valued at $1,090,000 after buying an additional 963 shares during the last quarter. Stevens Capital Management LP acquired a new position in SEI Investments in the second quarter valued at about $350,000. Finally, Advisor Group Inc. lifted its position in SEI Investments by 4.1% in the second quarter. Advisor Group Inc. now owns 49,613 shares of the asset manager’s stock valued at $2,783,000 after buying an additional 1,968 shares during the last quarter. 69.65% of the stock is owned by institutional investors.
SEIC has been the topic of a number of recent analyst reports. BidaskClub raised shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 27th. ValuEngine raised shares of SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a research report on Monday, April 22nd. Finally, Zacks Investment Research cut shares of SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. SEI Investments has an average rating of “Hold” and an average target price of $61.50.
NASDAQ SEIC traded up $0.21 during trading hours on Thursday, reaching $55.89. The company had a trading volume of 6,457 shares, compared to its average volume of 546,411. The firm has a 50-day moving average price of $57.23. SEI Investments has a 1-year low of $42.27 and a 1-year high of $64.21. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.78 and a quick ratio of 5.61. The company has a market capitalization of $8.58 billion, a PE ratio of 17.74, a P/E/G ratio of 1.47 and a beta of 1.31.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.03. The business had revenue of $409.60 million for the quarter, compared to analysts’ expectations of $412.28 million. SEI Investments had a net margin of 29.85% and a return on equity of 29.86%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.75 earnings per share. As a group, research analysts forecast that SEI Investments will post 3.22 EPS for the current fiscal year.
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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