Van ECK Associates Corp Has $754,000 Stock Holdings in SEI Investments (NASDAQ:SEIC)

Van ECK Associates Corp lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 9.7% during the 2nd quarter, Holdings Channel reports. The firm owned 12,166 shares of the asset manager’s stock after purchasing an additional 1,073 shares during the quarter. Van ECK Associates Corp’s holdings in SEI Investments were worth $754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in SEIC. Captrust Financial Advisors increased its stake in shares of SEI Investments by 52.1% during the 1st quarter. Captrust Financial Advisors now owns 502 shares of the asset manager’s stock worth $31,000 after purchasing an additional 172 shares during the last quarter. Meeder Asset Management Inc. grew its stake in SEI Investments by 100.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 649 shares of the asset manager’s stock valued at $40,000 after buying an additional 325 shares during the last quarter. Private Ocean LLC acquired a new position in SEI Investments in the 2nd quarter valued at about $74,000. SRS Capital Advisors Inc. acquired a new position in SEI Investments in the 2nd quarter valued at about $78,000. Finally, Ameritas Investment Company LLC acquired a new position in SEI Investments in the 1st quarter valued at about $97,000. Institutional investors own 68.49% of the company’s stock.

NASDAQ SEIC opened at $58.45 on Thursday. The company has a market capitalization of $8.25 billion, a P/E ratio of 17.04, a P/E/G ratio of 1.32 and a beta of 1.10. SEI Investments has a 12-month low of $48.70 and a 12-month high of $64.78. The firm has a 50-day moving average price of $61.02 and a two-hundred day moving average price of $61.59.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Tuesday, July 20th. The asset manager reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.01. The firm had revenue of $475.65 million during the quarter, compared to the consensus estimate of $464.69 million. SEI Investments had a net margin of 27.79% and a return on equity of 28.17%. The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS. As a group, research analysts forecast that SEI Investments will post 3.75 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a share buyback program on Wednesday, June 2nd that permits the company to buyback $250.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 2.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

A number of research analysts recently commented on SEIC shares. Raymond James reiterated a “hold” rating on shares of SEI Investments in a research note on Thursday, July 8th. Oppenheimer upped their price target on shares of SEI Investments from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Thursday, July 22nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, SEI Investments currently has an average rating of “Buy” and a consensus target price of $69.38.

SEI Investments Company Profile

SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.

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

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