SEI Investments (NASDAQ:SEIC) Short Interest Down 15.0% in July

SEI Investments (NASDAQ:SEIC) was the recipient of a significant decline in short interest during the month of 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. Approximately 1.5% of the shares of the company are sold short. Based on an average trading volume of 568,600 shares, the short-interest ratio is presently 3.5 days.

NASDAQ SEIC traded down $0.16 during trading on Thursday, reaching $55.52. The company’s stock had a trading volume of 232,898 shares, compared to its average volume of 660,275. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.61 and a current ratio of 5.78. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.47 and a beta of 1.31. SEI Investments has a twelve month low of $42.27 and a twelve month high of $64.21. The business’s fifty day moving average price is $57.25 and its 200-day moving average price is $53.97.

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. SEI Investments had a net margin of 29.85% and a return on equity of 29.86%. The business had revenue of $409.60 million for the quarter, compared to analyst estimates of $412.28 million. During the same period in the previous year, the business posted $0.75 earnings per share. The business’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments will post 3.22 EPS for the current fiscal year.

A number of research analysts have commented on SEIC shares. BidaskClub upgraded shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 27th. ValuEngine upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Zacks Investment Research lowered shares of SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 price objective on the stock. in a research note on Tuesday, June 11th. Finally, William Blair restated a “market perform” rating on shares of SEI Investments in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. SEI Investments currently has a consensus rating of “Hold” and an average price target of $61.50.

In other SEI Investments news, insider Dennis Mcgonigle sold 19,722 shares of SEI Investments stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $58.19, for a total value of $1,147,623.18. Following the transaction, the insider now directly owns 587,262 shares in the company, valued at $34,172,775.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 9,500 shares of SEI Investments stock in a transaction on Friday, July 26th. The shares were sold at an average price of $60.90, for a total transaction of $578,550.00. Following the completion of the transaction, the director now owns 75,200 shares in the company, valued at $4,579,680. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,222 shares of company stock worth $2,017,423. 22.60% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of the company. Worldquant Millennium Advisors LLC grew its position in SEI Investments by 17.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 74,289 shares of the asset manager’s stock worth $4,168,000 after buying an additional 10,908 shares during the period. Pictet Asset Management Ltd. grew its position in SEI Investments by 7.0% during the second quarter. Pictet Asset Management Ltd. now owns 51,890 shares of the asset manager’s stock worth $2,911,000 after buying an additional 3,400 shares during the period. Nuveen Asset Management LLC grew its position in SEI Investments by 3,795.8% during the second quarter. Nuveen Asset Management LLC now owns 514,786 shares of the asset manager’s stock worth $28,879,000 after buying an additional 501,572 shares during the period. Andra AP fonden grew its position in SEI Investments by 14.5% during the second quarter. Andra AP fonden now owns 120,800 shares of the asset manager’s stock worth $6,777,000 after buying an additional 15,300 shares during the period. Finally, Victory Capital Management Inc. grew its position in SEI Investments by 26.4% during the second quarter. Victory Capital Management Inc. now owns 90,645 shares of the asset manager’s stock worth $5,085,000 after buying an additional 18,958 shares during the period. Institutional investors and hedge funds 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.

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