Principal Financial Group Inc. trimmed its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 558,203 shares of the asset manager’s stock after selling 7,949 shares during the quarter. Principal Financial Group Inc. owned about 0.35% of SEI Investments worth $34,084,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. increased its position in SEI Investments by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after buying an additional 203 shares during the last quarter. Meeder Asset Management Inc. increased its position in SEI Investments by 7,575.0% during the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after buying an additional 2,424 shares during the last quarter. D.A. Davidson & CO. increased its position in SEI Investments by 9.3% during the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after buying an additional 253 shares during the last quarter. Mosaic Family Wealth LLC increased its position in SEI Investments by 6.7% during the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock worth $171,000 after buying an additional 200 shares during the last quarter. Finally, Legacy Advisors LLC acquired a new position in SEI Investments during the third quarter worth $180,000. 68.84% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $58.77, for a total value of $1,175,400.00. Following the completion of the sale, the insider now owns 32,540 shares in the company, valued at $1,912,375.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $64.64, for a total transaction of $3,232,000.00. Following the completion of the sale, the insider now owns 10,619,272 shares of the company’s stock, valued at approximately $686,429,742.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 162,500 shares of company stock worth $10,098,900. 16.50% of the stock is currently owned by company insiders.
Shares of SEI Investments Company (SEIC) opened at $67.10 on Friday. The stock has a market capitalization of $10,470.00, a PE ratio of 28.22, a PEG ratio of 2.30 and a beta of 1.38. SEI Investments Company has a 1 year low of $46.20 and a 1 year high of $67.15. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The company had revenue of $368.02 million for 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 revenue was up 3.8% compared to the same quarter last year. During the same period last year, the business posted $0.53 earnings per share. sell-side analysts predict that SEI Investments Company will post 2.35 EPS for the current year.
SEI Investments announced that its board has authorized a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
Several research firms have commented on SEIC. Mizuho reissued a “buy” rating and set a $72.00 target price on shares of SEI Investments in a research report on Friday. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research report on Monday, October 30th. Oppenheimer Holdings, Inc. raised their price target on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a research report on Sunday, September 3rd. Finally, BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $67.25.
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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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