Private Advisor Group LLC grew its holdings in SEI Investments (NASDAQ:SEIC) by 57.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,266 shares of the asset manager’s stock after purchasing an additional 3,023 shares during the period. Private Advisor Group LLC’s holdings in SEI Investments were worth $517,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in SEIC. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in SEI Investments by 8.7% during the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,741 shares of the asset manager’s stock worth $1,109,000 after purchasing an additional 1,418 shares during the period. GSA Capital Partners LLP bought a new stake in SEI Investments during the second quarter worth approximately $536,000. Mutual of America Capital Management LLC boosted its position in SEI Investments by 5.0% during the second quarter. Mutual of America Capital Management LLC now owns 121,563 shares of the asset manager’s stock worth $7,600,000 after purchasing an additional 5,821 shares during the period. Stevens Capital Management LP bought a new stake in SEI Investments during the second quarter worth approximately $335,000. Finally, American Century Companies Inc. boosted its position in SEI Investments by 0.4% during the second quarter. American Century Companies Inc. now owns 1,667,151 shares of the asset manager’s stock worth $104,230,000 after purchasing an additional 6,923 shares during the period. Hedge funds and other institutional investors own 68.86% of the company’s stock.
In other news, insider Joseph P. Ujobai sold 1,473 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was sold at an average price of $59.84, for a total value of $88,144.32. Following the completion of the sale, the insider now directly owns 14,013 shares of the company’s stock, valued at $838,537.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $66.52, for a total value of $1,330,400.00. The disclosure for this sale can be found here. Insiders have sold 47,973 shares of company stock valued at $2,986,744 in the last ninety days. Company insiders own 16.50% of the company’s stock.
Shares of SEI Investments stock opened at $63.18 on Thursday. The company has a market cap of $9.89 billion, a price-to-earnings ratio of 22.37, a P/E/G ratio of 1.67 and a beta of 1.14. SEI Investments has a 12-month low of $55.72 and a 12-month high of $78.35.
SEI Investments (NASDAQ:SEIC) last announced its earnings results on Thursday, July 19th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The company had revenue of $404.80 million for the quarter, compared to the consensus estimate of $405.58 million. SEI Investments had a return on equity of 29.98% and a net margin of 30.25%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. equities analysts forecast that SEI Investments will post 3.15 EPS for the current fiscal year.
SEI Investments announced that its board has authorized a stock repurchase plan on Wednesday, May 30th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
A number of equities research analysts have issued reports on the company. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. BidaskClub cut SEI Investments from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Finally, Mizuho reaffirmed a “buy” rating and set a $85.00 target price on shares of SEI Investments in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $78.75.
About SEI Investments
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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