SEI Investments (NASDAQ:SEIC) Short Interest Update

SEI Investments (NASDAQ:SEIC) saw a large decline in short interest in July. As of July 31st, there was short interest totalling 1,968,300 shares, a decline of 15.0% from the June 30th total of 2,315,700 shares. Based on an average daily volume of 568,600 shares, the days-to-cover ratio is presently 3.5 days. Currently, 1.5% of the shares of the company are short sold.

Shares of SEIC stock traded up $1.09 during midday trading on Tuesday, reaching $57.90. 2,454 shares of the company traded hands, compared to its average volume of 556,093. The business’s 50 day moving average price is $57.13. SEI Investments has a 1-year low of $42.27 and a 1-year high of $64.21. The company has a current ratio of 5.78, a quick ratio of 5.61 and a debt-to-equity ratio of 0.02. The stock has a market cap of $8.69 billion, a price-to-earnings ratio of 18.41, a PEG ratio of 1.49 and a beta of 1.31.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data 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. SEI Investments had a return on equity of 29.86% and a net margin of 29.85%. The firm had revenue of $409.60 million during the quarter, compared to the consensus estimate of $412.28 million. During the same period in the previous year, the firm posted $0.75 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities research analysts expect that SEI Investments will post 3.22 EPS for the current year.

A number of equities research analysts have recently issued reports on the stock. ValuEngine upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research report on Monday, April 22nd. Zacks Investment Research downgraded shares of SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 price target for the company. in a research report on Tuesday, June 11th. Finally, BidaskClub upgraded shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 27th. Five investment 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $61.50.

In other news, insider Dennis Mcgonigle sold 19,722 shares of SEI Investments stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $58.19, for a total transaction of $1,147,623.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sarah Blumenstein sold 5,000 shares of SEI Investments stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $58.25, for a total transaction of $291,250.00. Following the sale, the director now owns 10,681 shares of the company’s stock, valued at $622,168.25. The disclosure for this sale can be found here. Insiders sold a total of 34,222 shares of company stock worth $2,017,423 in the last ninety days. 22.60% of the stock is owned by corporate insiders.

Several institutional investors have recently modified their holdings of SEIC. FIL Ltd acquired a new position in shares of SEI Investments during the 1st quarter worth approximately $30,695,000. Dimensional Fund Advisors LP raised its position in shares of SEI Investments by 67.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 866,478 shares of the asset manager’s stock worth $40,030,000 after purchasing an additional 349,016 shares during the last quarter. Parnassus Investments CA raised its position in shares of SEI Investments by 25.4% during the 1st quarter. Parnassus Investments CA now owns 1,590,474 shares of the asset manager’s stock worth $83,102,000 after purchasing an additional 322,254 shares during the last quarter. Geode Capital Management LLC raised its position in shares of SEI Investments by 19.1% during the 4th quarter. Geode Capital Management LLC now owns 1,770,128 shares of the asset manager’s stock worth $81,741,000 after purchasing an additional 283,678 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of SEI Investments by 15.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,120,226 shares of the asset manager’s stock worth $62,845,000 after purchasing an additional 149,900 shares during the last quarter. Hedge funds and other institutional investors own 69.65% of the company’s stock.

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.

Further Reading: Management Fee

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