Jag Capital Management LLC bought a new position in SEI Investments (NASDAQ:SEIC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 133,732 shares of the asset manager’s stock, valued at approximately $9,610,000. Jag Capital Management LLC owned about 0.08% of SEI Investments as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Invictus RG bought a new stake in shares of SEI Investments in the 3rd quarter valued at about $111,000. Meeder Asset Management Inc. increased its stake in SEI Investments by 7,575.0% during the 3rd quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after purchasing an additional 2,424 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of SEI Investments by 9.3% during the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after acquiring an additional 253 shares in the last quarter. Legacy Advisors LLC bought a new position in shares of SEI Investments during the 3rd quarter worth approximately $180,000. Finally, Venturi Wealth Management LLC bought a new position in shares of SEI Investments during the 3rd quarter worth approximately $208,000. 70.03% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently commented on SEIC shares. Oppenheimer reissued a “buy” rating and issued a $80.00 price objective on shares of SEI Investments in a report on Thursday, February 1st. Mizuho reaffirmed a “buy” rating and set a $72.00 price target on shares of SEI Investments in a report on Friday, November 17th. Zacks Investment Research raised SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a report on Monday, October 30th. Finally, BidaskClub downgraded SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $73.50.
In related news, insider Dennis Mcgonigle sold 15,000 shares of SEI Investments stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $69.63, for a total value of $1,044,450.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Wayne Withrow sold 10,000 shares of SEI Investments stock in a transaction that occurred 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 53,750 shares of company stock worth $3,722,650 over the last three months. Insiders own 16.50% of the company’s stock.
Shares of SEI Investments (SEIC) traded up $1.63 during midday trading on Wednesday, hitting $72.98. The company had a trading volume of 577,084 shares, compared to its average volume of 681,599. SEI Investments has a 52 week low of $49.02 and a 52 week high of $77.49. The company has a quick ratio of 4.07, a current ratio of 4.14 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $11,177.03, a PE ratio of 29.19, a P/E/G ratio of 1.83 and a beta of 1.30.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 31st. The asset manager reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.15. SEI Investments had a return on equity of 26.74% and a net margin of 26.49%. The firm had revenue of $408.22 million for the quarter, compared to analysts’ expectations of $397.96 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. research analysts anticipate that SEI Investments will post 3.24 earnings per share for the current year.
SEI Investments announced that its board has approved a stock buyback plan on Wednesday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
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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.
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