Parametric Portfolio Associates LLC increased its position in shares of SEI Investments (NASDAQ:SEIC) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 306,906 shares of the asset manager’s stock after buying an additional 5,718 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.19% of SEI Investments worth $18,740,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of SEI Investments by 5.5% during the 2nd quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock valued at $723,225,000 after buying an additional 697,125 shares during the period. Vanguard Group Inc. raised its position in 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 period. State Street Corp raised its position in SEI Investments by 0.4% in the second quarter. State Street Corp now owns 5,954,992 shares of the asset manager’s stock valued at $320,254,000 after purchasing an additional 21,421 shares during the period. Arrowstreet Capital Limited Partnership raised its position in 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 period. Finally, American Century Companies Inc. raised its position in SEI Investments by 0.9% in the third quarter. American Century Companies Inc. now owns 1,786,915 shares of the asset manager’s stock valued at $109,109,000 after purchasing an additional 16,248 shares during the period. 70.47% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider N Jeffrey Klauder sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $68.39, for a total transaction of $1,367,800.00. Following the sale, the insider now owns 62,194 shares of the company’s stock, valued at $4,253,447.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the company’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $64.64, for a total value of $3,232,000.00. Following the sale, the insider now directly owns 10,619,272 shares in the company, valued at approximately $686,429,742.08. The disclosure for this sale can be found here. Insiders have sold 136,250 shares of company stock worth $9,057,050 in the last ninety days. Corporate insiders own 16.50% of the company’s stock.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. During the same quarter in the prior year, the company earned $0.53 earnings per share. The company’s revenue was up 3.8% on a year-over-year basis. research analysts forecast that SEI Investments will post 2.35 EPS for the current fiscal year.
SEI Investments announced that its board has authorized a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently disclosed a semiannual dividend, which will be paid on Monday, January 8th. Stockholders of record on Wednesday, December 27th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a dividend yield of 0.85%. This is a positive change from SEI Investments’s previous semiannual dividend of $0.28. SEI Investments’s dividend payout ratio is currently 24.45%.
A number of analysts have issued reports on the company. Mizuho reissued a “buy” rating and issued a $72.00 target price on shares of SEI Investments in a research report on Friday, November 17th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, October 30th. Oppenheimer boosted their target price on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research report on Sunday, September 3rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $67.25.
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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