BB&T Securities LLC raised its holdings in SEI Investments Company (NASDAQ:SEIC) by 11.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,619 shares of the asset manager’s stock after buying an additional 2,591 shares during the quarter. BB&T Securities LLC’s holdings in SEI Investments were worth $1,503,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Victory Capital Management Inc. lifted its stake in SEI Investments by 21.3% in the second quarter. Victory Capital Management Inc. now owns 27,382 shares of the asset manager’s stock valued at $1,473,000 after buying an additional 4,808 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of SEI Investments by 1.6% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock worth $21,339,000 after purchasing an additional 6,325 shares during the period. Wedbush Securities Inc. acquired a new position in shares of SEI Investments during the second quarter worth approximately $208,000. Prudential Financial Inc. raised its position in shares of SEI Investments by 88.3% during the third quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock worth $31,123,000 after purchasing an additional 239,000 shares during the period. Finally, Aviva PLC raised its position in shares of SEI Investments by 5.6% during the second quarter. Aviva PLC now owns 78,736 shares of the asset manager’s stock worth $4,235,000 after purchasing an additional 4,190 shares during the period. 70.55% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Alfred P. West, Jr. sold 50,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $64.64, for a total transaction of $3,232,000.00. Following the completion of the sale, the insider now owns 10,619,272 shares in the company, valued at $686,429,742.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph P. Ujobai sold 20,000 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $58.77, for a total value of $1,175,400.00. Following the sale, the insider now owns 32,540 shares of the company’s stock, valued at approximately $1,912,375.80. The disclosure for this sale can be found here. Insiders have sold 206,250 shares of company stock valued at $13,246,650 in the last quarter. 16.50% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently weighed in on SEIC shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research report on Sunday, September 3rd. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Oppenheimer upped their target price on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Finally, Mizuho reaffirmed a “buy” rating and set a $65.00 target price on shares of SEI Investments in a research report on Friday, October 20th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $67.25.
SEI Investments Company (NASDAQ:SEIC) opened at $70.53 on Thursday. The company has a current ratio of 5.52, a quick ratio of 5.41 and a debt-to-equity ratio of 0.03. SEI Investments Company has a 12-month low of $47.88 and a 12-month high of $71.13. The firm has a market capitalization of $11,035.72, a P/E ratio of 30.47, a PEG ratio of 2.49 and a beta of 1.40.
SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The company had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. During the same period in the prior year, the firm earned $0.53 earnings per share. SEI Investments’s revenue for the quarter was up 3.8% on a year-over-year basis. research analysts predict that SEI Investments Company will post 2.35 EPS for the current fiscal year.
SEI Investments announced that its Board of Directors has initiated a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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SEI Investments Profile
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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