Principal Financial Group Inc. Lowers Stake in SEI Investments (NASDAQ:SEIC)

Principal Financial Group Inc. cut its position in shares of SEI Investments (NASDAQ:SEIC) by 0.5% during the first quarter, HoldingsChannel.com reports. The firm owned 577,119 shares of the asset manager’s stock after selling 2,762 shares during the period. Principal Financial Group Inc.’s holdings in SEI Investments were worth $30,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. ETF Managers Group LLC boosted its stake in SEI Investments by 11.9% in the 1st quarter. ETF Managers Group LLC now owns 1,927 shares of the asset manager’s stock valued at $101,000 after buying an additional 205 shares in the last quarter. Mason Street Advisors LLC boosted its stake in SEI Investments by 0.3% in the 1st quarter. Mason Street Advisors LLC now owns 68,651 shares of the asset manager’s stock valued at $3,587,000 after buying an additional 214 shares in the last quarter. BOKF NA boosted its stake in SEI Investments by 1.1% in the 4th quarter. BOKF NA now owns 24,148 shares of the asset manager’s stock valued at $1,116,000 after buying an additional 251 shares in the last quarter. Magnus Financial Group LLC boosted its stake in SEI Investments by 4.7% in the 1st quarter. Magnus Financial Group LLC now owns 6,119 shares of the asset manager’s stock valued at $320,000 after buying an additional 276 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in SEI Investments by 67.9% in the 4th quarter. Global Retirement Partners LLC now owns 764 shares of the asset manager’s stock valued at $35,000 after buying an additional 309 shares in the last quarter. Institutional investors and hedge funds own 68.76% of the company’s stock.

In other SEI Investments news, insider Paul Klauder sold 7,500 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $52.89, for a total value of $396,675.00. Following the completion of the sale, the insider now directly owns 24,841 shares in the company, valued at $1,313,840.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sarah Blumenstein sold 5,000 shares of the stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $51.96, for a total value of $259,800.00. Following the completion of the sale, the director now owns 10,681 shares of the company’s stock, valued at $554,984.76. The disclosure for this sale can be found here. Corporate insiders own 22.60% of the company’s stock.

Several analysts recently commented on the company. BidaskClub raised SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, April 9th. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 price target on the stock. in a research note on Tuesday. ValuEngine lowered SEI Investments from a “hold” rating to a “sell” rating in a research note on Thursday, April 25th. TheStreet raised SEI Investments from a “c+” rating to a “b-” rating in a research note on Tuesday, March 12th. Finally, William Blair reissued a “market perform” rating on shares of SEI Investments in a research note on Monday, April 22nd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.20.

NASDAQ SEIC opened at $53.99 on Friday. The stock has a market capitalization of $8.22 billion, a P/E ratio of 17.19, a P/E/G ratio of 1.41 and a beta of 1.24. The company has a quick ratio of 5.68, a current ratio of 5.86 and a debt-to-equity ratio of 0.03. SEI Investments has a 12 month low of $42.27 and a 12 month high of $66.67.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.73 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.03). The company had revenue of $400.82 million during the quarter, compared to the consensus estimate of $404.82 million. SEI Investments had a net margin of 29.64% and a return on equity of 29.76%. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. On average, equities research analysts predict that SEI Investments will post 3.18 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 12th will be issued a $0.33 dividend. The ex-dividend date is Tuesday, June 11th. This represents a $1.32 dividend on an annualized basis and a yield of 2.44%. SEI Investments’s dividend payout ratio is presently 21.02%.

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About SEI Investments

SEI Investments Company 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.

Further Reading: What are retained earnings?

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

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