Brown Advisory Inc. reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 16.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,533 shares of the asset manager’s stock after selling 11,262 shares during the quarter. Brown Advisory Inc.’s holdings in SEI Investments were worth $3,534,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Capital Group LLC increased its holdings in SEI Investments by 1,562.0% during the 1st quarter. Private Capital Group LLC now owns 1,662 shares of the asset manager’s stock worth $125,000 after purchasing an additional 1,562 shares during the period. IFP Advisors Inc increased its holdings in SEI Investments by 135.3% during the 1st quarter. IFP Advisors Inc now owns 1,746 shares of the asset manager’s stock worth $131,000 after purchasing an additional 1,004 shares during the period. Cerebellum GP LLC increased its holdings in SEI Investments by 2,524.0% during the 2nd quarter. Cerebellum GP LLC now owns 2,729 shares of the asset manager’s stock worth $171,000 after purchasing an additional 2,625 shares during the period. IBM Retirement Fund purchased a new position in SEI Investments during the 1st quarter worth $219,000. Finally, GWM Advisors LLC purchased a new position in SEI Investments during the 1st quarter worth $242,000. Institutional investors own 68.83% of the company’s stock.
In other news, insider Joseph P. Ujobai sold 20,000 shares of SEI Investments stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $66.52, for a total value of $1,330,400.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kevin Barr sold 25,000 shares of SEI Investments stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $59.14, for a total value of $1,478,500.00. Following the completion of the transaction, the executive vice president now owns 69,134 shares in the company, valued at $4,088,584.76. The disclosure for this sale can be found here. Insiders sold a total of 47,973 shares of company stock worth $2,986,744 over the last quarter. Company insiders own 17.30% of the company’s stock.
Several research analysts have commented on the company. Zacks Investment Research downgraded SEI Investments from a “buy” rating to a “hold” rating in a report on Tuesday, July 17th. BidaskClub downgraded SEI Investments from a “hold” rating to a “sell” rating in a report on Wednesday, July 18th. Finally, Mizuho restated a “buy” rating and set a $85.00 price objective on shares of SEI Investments in a report on Friday, July 20th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. SEI Investments has a consensus rating of “Buy” and a consensus price target of $78.75.
Shares of NASDAQ:SEIC opened at $63.18 on Thursday. SEI Investments has a 12-month low of $55.72 and a 12-month high of $78.35. The firm has a market capitalization of $9.89 billion, a PE ratio of 27.23, a P/E/G ratio of 1.67 and a beta of 1.14.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Thursday, July 19th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). SEI Investments had a net margin of 30.25% and a return on equity of 29.98%. The company had revenue of $404.80 million during the quarter, compared to analysts’ expectations of $405.58 million. During the same quarter in the prior year, the business posted $0.57 earnings per share. The company’s revenue was up 8.7% compared to the same quarter last year. sell-side analysts anticipate that SEI Investments will post 3.15 earnings per share for the current fiscal year.
SEI Investments declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 30th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.
SEI Investments Profile
SEI Investments Co 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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