Acadian Asset Management LLC raised its holdings in SEI Investments (NASDAQ:SEIC) by 268.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 288,565 shares of the asset manager’s stock after purchasing an additional 210,319 shares during the quarter. Acadian Asset Management LLC owned 0.18% of SEI Investments worth $20,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in the business. Schwab Charles Investment Management Inc. grew its stake in SEI Investments by 17.5% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 554,581 shares of the asset manager’s stock valued at $39,853,000 after purchasing an additional 82,752 shares during the period. BLB&B Advisors LLC bought a new position in SEI Investments in the 4th quarter valued at $208,000. Sheets Smith Wealth Management grew its stake in SEI Investments by 9.2% in the 4th quarter. Sheets Smith Wealth Management now owns 60,300 shares of the asset manager’s stock valued at $4,333,000 after purchasing an additional 5,100 shares during the period. First Citizens Bank & Trust Co. bought a new position in SEI Investments in the 4th quarter valued at $672,000. Finally, DnB Asset Management AS bought a new position in SEI Investments in the 4th quarter valued at $3,718,000. Hedge funds and other institutional investors own 70.46% of the company’s stock.
SEI Investments (NASDAQ:SEIC) opened at $77.23 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.41 and a current ratio of 5.52. The firm has a market capitalization of $12,049.85, a price-to-earnings ratio of 33.58, a PEG ratio of 2.04 and a beta of 1.40. SEI Investments has a 12 month low of $47.88 and a 12 month high of $77.37.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. The company had revenue of $368.02 million during the quarter, compared to the consensus estimate of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. research analysts forecast that SEI Investments will post 2.36 earnings per share for the current fiscal year.
The company also recently declared a semiannual dividend, which was paid on Monday, January 8th. Stockholders of record on Wednesday, December 27th were paid a dividend of $0.30 per share. This is an increase from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date of this dividend was Tuesday, December 26th. This represents a dividend yield of 0.85%. SEI Investments’s dividend payout ratio is presently 26.09%.
SEI Investments declared that its board has authorized a stock repurchase program on Wednesday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
SEIC has been the subject of a number of recent analyst reports. Oppenheimer upped their price objective on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Zacks Investment Research upgraded SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Mizuho restated a “buy” rating and issued a $65.00 price objective on shares of SEI Investments in a research note on Friday, October 20th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. SEI Investments has a consensus rating of “Buy” and a consensus price target of $70.25.
In other news, Director Sarah Blumenstein sold 5,000 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total transaction of $326,650.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Wayne Withrow sold 10,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total value of $703,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 136,250 shares of company stock valued at $9,057,050 in the last quarter. 16.50% of the stock is owned by corporate insiders.
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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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