Brown Advisory Inc. reduced its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 85,454 shares of the asset manager’s stock after selling 1,184 shares during the period. Brown Advisory Inc. owned approximately 0.05% of SEI Investments worth $5,217,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its holdings in shares of SEI Investments by 5.5% in the second quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock valued at $723,225,000 after purchasing an additional 697,125 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of SEI Investments by 47.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock valued at $102,598,000 after purchasing an additional 615,539 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of SEI Investments by 2.8% in the second quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock valued at $713,155,000 after purchasing an additional 357,187 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of SEI Investments by 51.2% in the third quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock valued at $59,130,000 after purchasing an additional 328,037 shares during the last quarter. Finally, Prudential Financial Inc. raised its holdings in shares of SEI Investments by 88.3% in the third quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock valued at $31,123,000 after purchasing an additional 239,000 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.
In related news, Director Sarah Blumenstein sold 5,000 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $65.33, for a total value of $326,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wayne Withrow sold 10,000 shares of the firm’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $70.35, for a total transaction of $703,500.00. The disclosure for this sale can be found here. Insiders sold 206,250 shares of company stock valued at $13,246,650 over the last three months. 16.50% of the stock is owned by company insiders.
SEI Investments (NASDAQ:SEIC) last released its 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. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The business had revenue of $368.02 million during the quarter, compared to analysts’ expectations of $384.43 million. During the same period last year, the business earned $0.53 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. research analysts anticipate that SEI Investments Company will post 2.35 EPS for the current fiscal year.
SEI Investments declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
A number of research firms have recently issued reports on SEIC. Mizuho reiterated a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a report on Friday, November 17th. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Monday, October 30th. Oppenheimer lifted their price objective on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a report on Sunday, September 3rd. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. SEI Investments has a consensus rating of “Buy” and a consensus price target of $67.25.
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SEI Investments Company Profile
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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