Legal & General Group Plc increased its position in SEI Investments Company (NASDAQ:SEIC) by 5.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 667,524 shares of the asset manager’s stock after purchasing an additional 35,067 shares during the quarter. Legal & General Group Plc owned approximately 0.42% of SEI Investments worth $40,759,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its stake in shares of 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 worth $150,000 after purchasing an additional 2,424 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of SEI Investments by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after acquiring an additional 203 shares during the period. D.A. Davidson & CO. grew its holdings 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 valued at $160,000 after purchasing an additional 253 shares during the period. Mosaic Family Wealth LLC grew its holdings 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 valued at $171,000 after purchasing an additional 200 shares during the period. Finally, Legacy Advisors LLC bought a new stake in SEI Investments during the third quarter valued at about $180,000. Institutional investors and hedge funds own 70.55% of the company’s stock.
In related news, insider Dennis Mcgonigle sold 15,000 shares of the business’s stock in a transaction dated 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 filing with the SEC, which is available through this link. Also, insider Wayne Withrow sold 10,000 shares of the business’s stock in a transaction dated 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 sold 206,250 shares of company stock worth $13,246,650 over the last quarter. 16.50% of the stock is owned by company insiders.
SEI Investments Company (NASDAQ SEIC) opened at $70.70 on Friday. The firm has a market capitalization of $11,106.58, a PE ratio of 30.67, a PEG ratio of 2.50 and a beta of 1.40. 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 Company has a one year low of $47.88 and a one year high of $71.77.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 3.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 earnings per share. research analysts forecast that SEI Investments Company will post 2.35 EPS for the current year.
SEI Investments announced that its board has approved a share repurchase program on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Several analysts have issued reports on SEIC shares. 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. Oppenheimer upped their price objective on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, Mizuho reaffirmed a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a research note on Friday, November 17th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. SEI Investments presently has an average rating of “Buy” and a consensus target price of $67.25.
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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