Raymond James Financial Services Advisors Inc. Cuts Stake in SEI Investments Company (SEIC)

Raymond James Financial Services Advisors Inc. lessened its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 9.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,095 shares of the asset manager’s stock after selling 1,782 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in SEI Investments were worth $973,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. boosted its stake 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 period. Arrowstreet Capital Limited Partnership boosted its stake 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 period. Vanguard Group Inc. boosted its stake 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 period. Balyasny Asset Management LLC boosted its stake in shares of SEI Investments by 386.9% in the second quarter. Balyasny Asset Management LLC now owns 286,738 shares of the asset manager’s stock valued at $15,421,000 after purchasing an additional 227,849 shares during the period. Finally, JLB & Associates Inc. purchased a new position in shares of SEI Investments in the second quarter valued at approximately $11,631,000. 69.25% of the stock is owned by institutional investors.

SEI Investments Company (NASDAQ:SEIC) traded down $0.05 during mid-day trading on Friday, reaching $64.68. 537,600 shares of the company’s stock were exchanged, compared to its average volume of 560,908. The company has a current ratio of 5.52, a quick ratio of 5.41 and a debt-to-equity ratio of 0.03. SEI Investments Company has a 12 month low of $44.64 and a 12 month high of $66.00. The firm has a market capitalization of $10,193.24, a PE ratio of 28.14, a P/E/G ratio of 2.30 and a beta of 1.38.

SEI Investments (NASDAQ:SEIC) last released 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 net margin of 24.94% and a return on equity of 27.12%. The company had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. During the same quarter last year, the company earned $0.53 earnings per share. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. equities analysts predict that SEI Investments Company will post 2.35 EPS for the current year.

SEI Investments declared that its board has authorized a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Several research analysts have recently commented on the stock. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price objective for the company in a research note on Monday, October 30th. Mizuho reaffirmed a “buy” rating and issued a $65.00 target price on shares of SEI Investments in a report on Friday, October 20th. Oppenheimer Holdings, Inc. raised their target price 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. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a report on Sunday, September 3rd. Finally, BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. SEI Investments currently has an average rating of “Buy” and an average price target of $65.50.

In other news, Director William Doran sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen Meyer sold 20,000 shares of SEI Investments stock in a transaction on Thursday, September 28th. The shares were sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the completion of the transaction, the insider now owns 113,224 shares in the company, valued at $6,964,408.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 157,500 shares of company stock worth $9,772,250. Insiders own 16.50% of the company’s stock.

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SEI Investments 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.

Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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