First Quadrant L P CA cut its holdings in SEI Investments (NASDAQ:SEIC) by 4.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 453,789 shares of the asset manager’s stock after selling 22,125 shares during the quarter. SEI Investments comprises 0.6% of First Quadrant L P CA’s portfolio, making the stock its 22nd largest position. First Quadrant L P CA owned approximately 0.29% of SEI Investments worth $32,609,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in SEIC. Invictus RG bought a new position in SEI Investments in the third quarter valued at approximately $111,000. Meeder Asset Management Inc. boosted its stake 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 during the last quarter. D.A. Davidson & CO. boosted its stake in SEI Investments by 9.3% in the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after acquiring an additional 253 shares during the last quarter. Legacy Advisors LLC bought a new position in SEI Investments in the third quarter valued at approximately $180,000. Finally, Venturi Wealth Management LLC bought a new position in SEI Investments in the third quarter valued at approximately $208,000. 70.03% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Paul Klauder sold 8,750 shares of the firm’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $69.36, for a total transaction of $606,900.00. Following the sale, the executive vice president now directly owns 22,879 shares in the company, valued at $1,586,887.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider N Jeffrey Klauder sold 20,000 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $68.39, for a total transaction of $1,367,800.00. Following the sale, the insider now owns 62,194 shares in the company, valued at $4,253,447.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,750 shares of company stock worth $3,722,650. Insiders own 16.50% of the company’s stock.
SEI Investments (NASDAQ SEIC) opened at $72.98 on Thursday. The firm has a market cap of $11,177.03, a price-to-earnings ratio of 29.19, a PEG ratio of 1.83 and a beta of 1.30. SEI Investments has a 52-week low of $49.02 and a 52-week high of $77.49. The company has a current ratio of 4.14, a quick ratio of 4.07 and a debt-to-equity ratio of 0.02.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.15. The company had revenue of $408.22 million for the quarter, compared to analysts’ expectations of $397.96 million. SEI Investments had a net margin of 26.49% and a return on equity of 26.74%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.55 earnings per share. research analysts anticipate that SEI Investments will post 3.24 EPS for the current year.
SEI Investments announced that its Board of Directors has approved a share repurchase 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 purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
SEIC has been the topic of a number of recent research reports. Mizuho reaffirmed a “buy” rating and issued a $65.00 price objective on shares of SEI Investments in a research note on Friday, October 20th. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, October 30th. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Finally, Oppenheimer reissued a “buy” rating and set a $80.00 price target on shares of SEI Investments in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. SEI Investments currently has a consensus rating of “Buy” and an average price target of $73.50.
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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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