First Trust Advisors LP reduced its holdings in SEI Investments (NASDAQ:SEIC) by 13.8% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 181,856 shares of the asset manager’s stock after selling 29,142 shares during the quarter. First Trust Advisors LP owned 0.12% of SEI Investments worth $8,427,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SEIC. Sei Investments Co. increased its stake in SEI Investments by 3,518.0% in the 4th quarter. Sei Investments Co. now owns 7,354,916 shares of the asset manager’s stock worth $481,600,000 after acquiring an additional 7,151,628 shares during the last quarter. Norges Bank bought a new position in SEI Investments in the 4th quarter worth about $87,275,000. Loomis Sayles & Co. L P increased its stake in SEI Investments by 3.4% in the 4th quarter. Loomis Sayles & Co. L P now owns 16,543,846 shares of the asset manager’s stock worth $1,083,291,000 after acquiring an additional 536,382 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its stake in SEI Investments by 45.2% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 785,750 shares of the asset manager’s stock worth $36,412,000 after acquiring an additional 244,428 shares during the last quarter. Finally, Great West Life Assurance Co. Can bought a new position in SEI Investments in the 4th quarter worth about $13,444,000. Institutional investors and hedge funds own 73.78% of the company’s stock.
In related news, major shareholder Alfred P. West, Jr. sold 122,411 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $60.89, for a total transaction of $7,453,605.79. Following the completion of the sale, the insider now directly owns 9,581,977 shares in the company, valued at approximately $583,446,579.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 11,587 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $66.43, for a total value of $769,724.41. Following the sale, the insider now owns 9,760,390 shares of the company’s stock, valued at $648,382,707.70. The disclosure for this sale can be found here. Corporate insiders own 22.60% of the company’s stock.
Shares of SEI Investments stock opened at $51.56 on Friday. The company has a current ratio of 5.94, a quick ratio of 5.79 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $7.67 billion, a PE ratio of 15.91, a price-to-earnings-growth ratio of 1.56 and a beta of 1.29. The business’s 50-day moving average price is $49.67 and its 200-day moving average price is $58.62. SEI Investments has a 12 month low of $35.40 and a 12 month high of $69.61.
SEI Investments (NASDAQ:SEIC) last issued its earnings results on Thursday, April 23rd. The asset manager reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.05). The company had revenue of $414.76 million for the quarter, compared to analysts’ expectations of $409.12 million. SEI Investments had a net margin of 29.85% and a return on equity of 29.17%. The company’s revenue was up 3.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.73 earnings per share. As a group, analysts predict that SEI Investments will post 2.76 earnings per share for the current fiscal year.
SEI Investments announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 3.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
SEIC has been the topic of a number of research analyst reports. Oppenheimer decreased their target price on SEI Investments from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, April 24th. ValuEngine upgraded SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, March 17th. TheStreet lowered SEI Investments from a “b-” rating to a “c” rating in a research report on Tuesday, March 24th. Rosenblatt Securities reiterated a “hold” rating and set a $47.00 price objective on shares of SEI Investments in a research report on Friday, April 24th. Finally, BidaskClub lowered SEI Investments from a “sell” rating to a “strong sell” rating in a research report on Thursday, April 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $53.33.
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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