SEI Investments (NASDAQ:SEIC) Short Interest Down 28.0% in August

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SEI Investments (NASDAQ:SEIC) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 1,417,100 shares, a drop of 28.0% from the July 31st total of 1,968,300 shares. Approximately 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 520,900 shares, the short-interest ratio is currently 2.7 days.

In other SEI Investments news, insider Dennis Mcgonigle sold 19,722 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 587,262 shares of the company’s stock, valued at approximately $34,172,775.78. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sarah Blumenstein sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $58.25, for a total value of $291,250.00. Following the completion of the sale, the director now directly owns 10,681 shares in the company, valued at $622,168.25. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,222 shares of company stock worth $2,017,423. 22.60% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SEIC. Dimensional Fund Advisors LP lifted its stake in shares of SEI Investments by 67.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 866,478 shares of the asset manager’s stock valued at $40,030,000 after purchasing an additional 349,016 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of SEI Investments by 19.1% in the 4th quarter. Geode Capital Management LLC now owns 1,770,128 shares of the asset manager’s stock valued at $81,741,000 after purchasing an additional 283,678 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of SEI Investments by 14.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 15,085 shares of the asset manager’s stock valued at $788,000 after purchasing an additional 1,896 shares in the last quarter. First Republic Investment Management Inc. lifted its stake in shares of SEI Investments by 4.9% in the 1st quarter. First Republic Investment Management Inc. now owns 11,527 shares of the asset manager’s stock valued at $602,000 after purchasing an additional 543 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its stake in shares of SEI Investments by 12.3% in the 1st quarter. Victory Capital Management Inc. now owns 71,687 shares of the asset manager’s stock valued at $3,746,000 after purchasing an additional 7,868 shares in the last quarter. 69.33% of the stock is currently owned by institutional investors and hedge funds.

SEIC has been the topic of a number of research analyst reports. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research note on Tuesday, June 11th. BidaskClub raised SEI Investments from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, ValuEngine raised SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $61.50.

NASDAQ:SEIC traded up $0.28 during mid-day trading on Friday, reaching $61.02. The company’s stock had a trading volume of 9,120 shares, compared to its average volume of 298,555. The company’s fifty day simple moving average is $57.77 and its two-hundred day simple moving average is $54.82. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.78 and a quick ratio of 5.61. SEI Investments has a twelve month low of $42.27 and a twelve month high of $64.21. The stock has a market cap of $9.06 billion, a P/E ratio of 19.40, a P/E/G ratio of 1.55 and a beta of 1.32.

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 analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $409.60 million for the quarter, compared to analyst estimates of $412.28 million. SEI Investments had a return on equity of 29.86% and a net margin of 29.85%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.75 EPS. Sell-side analysts expect that SEI Investments will post 3.22 EPS for the current fiscal year.

SEI Investments Company Profile

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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