SEI Investments (SEIC) Stock Price Down 5.1%

SEI Investments (NASDAQ:SEIC) shares were down 5.1% during mid-day trading on Thursday . The company traded as low as $68.82 and last traded at $68.82. Approximately 1,248,492 shares changed hands during mid-day trading, an increase of 86% from the average daily volume of 669,992 shares. The stock had previously closed at $72.49.

A number of research analysts have issued reports on SEIC shares. BidaskClub lowered shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Mizuho restated a “buy” rating and issued a $65.00 target price on shares of SEI Investments in a report on Friday, October 20th. Zacks Investment Research lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Tuesday, December 26th. Finally, Oppenheimer reiterated a “buy” rating and set a $80.00 price objective on shares of SEI Investments in a report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. SEI Investments presently has an average rating of “Buy” and a consensus target price of $73.50.

The firm has a market cap of $10,809.49, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 1.77 and a beta of 1.30. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.14 and a quick ratio of 4.07.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.15. The business had revenue of $408.22 million for the quarter, compared to analyst estimates of $397.96 million. SEI Investments had a net margin of 26.49% and a return on equity of 26.74%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.55 EPS. sell-side analysts forecast that SEI Investments will post 3.24 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock buyback 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 repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

In other news, Director Sarah Blumenstein sold 5,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $65.33, for a total transaction of $326,650.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Paul Klauder sold 8,750 shares of the stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $69.36, for a total transaction of $606,900.00. Following the transaction, the executive vice president now owns 22,879 shares in the company, valued at $1,586,887.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,750 shares of company stock worth $4,049,300. Insiders own 16.50% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Invictus RG purchased a new position in SEI Investments in the third quarter valued at approximately $111,000. Meeder Asset Management Inc. grew its position in SEI Investments by 7,575.0% in the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock valued at $150,000 after acquiring an additional 2,424 shares in the last quarter. Gradient Investments LLC acquired a new stake in SEI Investments in the fourth quarter valued at approximately $207,000. BLB&B Advisors LLC acquired a new stake in SEI Investments in the fourth quarter valued at approximately $208,000. Finally, Stewart & Patten Co. LLC acquired a new stake in SEI Investments in the fourth quarter valued at approximately $230,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.

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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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