Wells Fargo & Company MN trimmed its position in shares of SEI Investments (NASDAQ:SEIC) by 12.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 146,872 shares of the asset manager’s stock after selling 20,383 shares during the period. Wells Fargo & Company MN owned about 0.09% of SEI Investments worth $11,002,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in SEIC. BlackRock Inc. increased its stake in SEI Investments by 1.9% in the 4th quarter. BlackRock Inc. now owns 13,949,844 shares of the asset manager’s stock worth $1,002,436,000 after purchasing an additional 254,860 shares during the period. First Trust Advisors LP increased its stake in SEI Investments by 382.4% in the 4th quarter. First Trust Advisors LP now owns 308,516 shares of the asset manager’s stock worth $22,170,000 after purchasing an additional 244,567 shares during the period. Schroder Investment Management Group increased its stake in SEI Investments by 1,722.5% in the 4th quarter. Schroder Investment Management Group now owns 162,200 shares of the asset manager’s stock worth $11,656,000 after purchasing an additional 153,300 shares during the period. Allianz Asset Management GmbH increased its stake in SEI Investments by 85.6% in the 4th quarter. Allianz Asset Management GmbH now owns 279,965 shares of the asset manager’s stock worth $20,118,000 after purchasing an additional 129,089 shares during the period. Finally, Guggenheim Capital LLC increased its stake in SEI Investments by 101.5% in the 4th quarter. Guggenheim Capital LLC now owns 228,277 shares of the asset manager’s stock worth $16,403,000 after purchasing an additional 115,003 shares during the period. 70.01% of the stock is currently owned by institutional investors.
SEIC has been the topic of a number of recent analyst reports. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a research report on Tuesday, March 6th. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 12th. William Blair lowered SEI Investments from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 12th. Finally, Sandler O’Neill set a $81.00 price target on SEI Investments and gave the company a “buy” rating in a research report on Tuesday, April 10th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. SEI Investments has a consensus rating of “Hold” and a consensus price target of $75.00.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 25th. The asset manager reported $0.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.10. SEI Investments had a return on equity of 29.07% and a net margin of 28.97%. The business had revenue of $405.60 million for the quarter, compared to the consensus estimate of $408.10 million. During the same period in the previous year, the company posted $0.55 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. research analysts predict that SEI Investments will post 3.13 EPS for the current year.
The business also recently announced a semiannual dividend, which will be paid on Friday, June 22nd. Shareholders of record on Thursday, June 14th will be issued a $0.30 dividend. This represents a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, June 13th. SEI Investments’s dividend payout ratio (DPR) is 25.86%.
SEI Investments announced that its board has approved a share repurchase plan on Wednesday, May 30th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 1.9% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.
In other news, insider Joseph P. Ujobai sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 12th. The stock was sold at an average price of $66.52, for a total value of $1,330,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Meyer sold 4,524 shares of the business’s stock in a transaction on Wednesday, March 21st. The stock was sold at an average price of $77.59, for a total value of $351,017.16. Following the completion of the transaction, the executive vice president now owns 97,748 shares of the company’s stock, valued at approximately $7,584,267.32. The disclosure for this sale can be found here. Insiders own 17.30% of the company’s stock.
SEI Investments Profile
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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