North Star Asset Management Inc. grew its position in SEI Investments Company (NASDAQ:SEIC) by 12.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,714 shares of the asset manager’s stock after acquiring an additional 2,350 shares during the quarter. North Star Asset Management Inc.’s holdings in SEI Investments were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of SEI Investments by 5.5% in the 2nd quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock worth $723,225,000 after purchasing an additional 697,125 shares during the period. Vanguard Group Inc. boosted its holdings in shares of SEI Investments by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock worth $713,155,000 after purchasing an additional 357,187 shares during the period. State Street Corp boosted its holdings in shares of SEI Investments by 0.4% in the 2nd quarter. State Street Corp now owns 5,954,992 shares of the asset manager’s stock worth $320,254,000 after purchasing an additional 21,421 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in shares of SEI Investments by 47.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after purchasing an additional 615,539 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of SEI Investments by 1.3% in the 2nd quarter. Northern Trust Corp now owns 1,416,259 shares of the asset manager’s stock worth $76,167,000 after purchasing an additional 17,776 shares during the period. 69.25% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Joseph P. Ujobai sold 17,500 shares of the business’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $64.46, for a total value of $1,128,050.00. Following the completion of the transaction, the insider now directly owns 30,040 shares of the company’s stock, valued at approximately $1,936,378.40. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William Doran sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value 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 disclosure for this sale can be found here. Over the last three months, insiders sold 157,500 shares of company stock valued at $9,772,250. Corporate insiders own 16.50% of the company’s stock.
Shares of SEI Investments Company (NASDAQ:SEIC) opened at $64.68 on Monday. The firm has a market capitalization of $10,185.35, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.38. 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 1 year low of $44.64 and a 1 year high of $66.00.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The firm had revenue of $368.02 million during the quarter, compared to analyst estimates of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 EPS. equities research analysts predict that SEI Investments Company will post 2.35 earnings per share for the current year.
SEI Investments announced that its board has authorized a stock buyback plan on Wednesday, October 25th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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SEIC has been the subject of a number of recent research reports. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a report on Thursday, July 27th. Mizuho restated a “buy” rating and set a $65.00 price objective on shares of SEI Investments in a report on Friday, October 20th. Oppenheimer Holdings, Inc. boosted their price objective on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Finally, Zacks Investment Research raised SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $65.50.
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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