Parsec Financial Management Inc. Cuts Position in SEI Investments (NASDAQ:SEIC)

Parsec Financial Management Inc. decreased its stake in SEI Investments (NASDAQ:SEICGet Rating) by 0.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,763 shares of the asset manager’s stock after selling 440 shares during the quarter. Parsec Financial Management Inc.’s holdings in SEI Investments were worth $3,154,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. AlphaCrest Capital Management LLC lifted its stake in shares of SEI Investments by 28.2% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 22,193 shares of the asset manager’s stock worth $1,316,000 after acquiring an additional 4,881 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in SEI Investments by 52.5% during the 3rd quarter. Cubist Systematic Strategies LLC now owns 91,740 shares of the asset manager’s stock valued at $5,440,000 after purchasing an additional 31,595 shares in the last quarter. Deutsche Bank AG raised its position in SEI Investments by 1.9% during the 3rd quarter. Deutsche Bank AG now owns 150,827 shares of the asset manager’s stock valued at $8,943,000 after purchasing an additional 2,883 shares in the last quarter. Tudor Investment Corp Et Al bought a new stake in SEI Investments during the 3rd quarter valued at $3,868,000. Finally, Aviva PLC raised its position in SEI Investments by 70.8% during the 3rd quarter. Aviva PLC now owns 62,109 shares of the asset manager’s stock valued at $3,683,000 after purchasing an additional 25,749 shares in the last quarter. Hedge funds and other institutional investors own 69.63% of the company’s stock.

A number of equities research analysts have weighed in on the company. StockNews.com assumed coverage on SEI Investments in a research report on Thursday, March 31st. They set a “buy” rating for the company. The Goldman Sachs Group downgraded SEI Investments from a “buy” rating to a “neutral” rating and cut their price target for the company from $67.00 to $65.00 in a report on Monday, March 28th. Zacks Investment Research downgraded SEI Investments from a “buy” rating to a “hold” rating and set a $60.00 price target on the stock. in a report on Friday, April 22nd. Morgan Stanley cut their price target on SEI Investments from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Thursday, April 21st. Finally, Oppenheimer cut their price target on SEI Investments from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, January 27th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.80.

SEIC stock traded down $2.08 on Friday, hitting $55.72. 1,005,781 shares of the company’s stock were exchanged, compared to its average volume of 561,831. SEI Investments has a 12-month low of $54.03 and a 12-month high of $65.22. The firm has a 50 day moving average price of $58.40 and a two-hundred day moving average price of $60.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.08 and a current ratio of 5.19. The stock has a market cap of $7.65 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.16 and a beta of 1.06.

SEI Investments (NASDAQ:SEICGet Rating) last announced its earnings results on Wednesday, April 20th. The asset manager reported $1.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.37 by ($0.01). SEI Investments had a return on equity of 32.49% and a net margin of 29.72%. The business had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $560.41 million. During the same quarter last year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 27.6% compared to the same quarter last year. Sell-side analysts expect that SEI Investments will post 4.11 earnings per share for the current fiscal year.

About SEI Investments (Get Rating)

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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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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