Meeder Asset Management Inc. raised its position in SEI Investments Company (NASDAQ:SEIC) by 7,575.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,456 shares of the asset manager’s stock after buying an additional 2,424 shares during the quarter. Meeder Asset Management Inc.’s holdings in SEI Investments were worth $150,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of SEI Investments by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after buying an additional 203 shares during the period. D.A. Davidson & CO. raised its stake in shares of SEI Investments by 9.3% in the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after buying an additional 253 shares during the period. Mosaic Family Wealth LLC raised its stake in shares of SEI Investments by 6.7% in the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after buying an additional 200 shares during the period. Wedbush Securities Inc. bought a new stake in shares of SEI Investments in the second quarter valued at $208,000. Finally, Gyroscope Capital Management Group LLC bought a new stake in shares of SEI Investments in the second quarter valued at $227,000. Hedge funds and other institutional investors own 68.75% of the company’s stock.
Several brokerages have issued reports on SEIC. Mizuho restated a “buy” rating and issued a $65.00 target price on shares of SEI Investments in a research note on Friday, October 20th. Zacks Investment Research upgraded SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Oppenheimer Holdings, Inc. boosted their target price on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $62.75.
Shares of SEI Investments Company (SEIC) opened at 64.45 on Monday. SEI Investments Company has a 52 week low of $43.65 and a 52 week high of $65.30. The firm has a 50 day moving average price of $61.26 and a 200 day moving average price of $55.60. The company has a market capitalization of $10.19 billion, a price-to-earnings ratio of 29.55 and a beta of 1.35.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The firm had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The company’s revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 EPS. Equities analysts forecast that SEI Investments Company will post $2.34 EPS for the current year.
SEI Investments declared that its Board of Directors has approved a share buyback program on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.
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In other news, insider Stephen Meyer sold 20,000 shares of the stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the transaction, the insider now directly owns 113,224 shares of the company’s stock, valued at approximately $6,964,408.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William Doran sold 10,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the transaction, the director now directly owns 671,015 shares in the company, valued at $38,576,652.35. The disclosure for this sale can be found here. Insiders have sold a total of 325,000 shares of company stock worth $18,540,250 over the last three months. Insiders own 16.50% of the company’s stock.
About SEI Investments
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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