First Citizens Bank & Trust Co. bought a new stake in shares of SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,358 shares of the asset manager’s stock, valued at approximately $672,000.
Other hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in SEI Investments by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after purchasing an additional 203 shares in the last quarter. Tredje AP fonden boosted its stake in SEI Investments by 35.6% in the 2nd quarter. Tredje AP fonden now owns 7,080 shares of the asset manager’s stock worth $381,000 after purchasing an additional 1,859 shares in the last quarter. Alliancebernstein L.P. boosted its stake in SEI Investments by 2.7% in the 2nd quarter. Alliancebernstein L.P. now owns 96,216 shares of the asset manager’s stock worth $5,174,000 after purchasing an additional 2,561 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in SEI Investments by 57.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 12,920 shares of the asset manager’s stock worth $695,000 after purchasing an additional 4,720 shares in the last quarter. Finally, Seven Eight Capital LP bought a new position in SEI Investments in the 2nd quarter worth about $403,000. Hedge funds and other institutional investors own 70.47% of the company’s stock.
SEI Investments (SEIC) opened at $76.65 on Friday. The stock has a market cap of $12,070.00, a PE ratio of 33.47, a P/E/G ratio of 2.09 and a beta of 1.40. SEI Investments has a one year low of $47.88 and a one year high of $76.76. 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 posted its 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 business had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. analysts expect that SEI Investments will post 2.36 earnings per share for the current year.
The business also recently announced a semiannual dividend, which was paid on Monday, January 8th. Shareholders of record on Wednesday, December 27th were paid a dividend of $0.30 per share. The ex-dividend date was Tuesday, December 26th. This represents a yield of 0.85%. This is a boost from SEI Investments’s previous semiannual dividend of $0.28. SEI Investments’s dividend payout ratio is currently 26.20%.
SEI Investments declared that its board has initiated a stock buyback plan on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of brokerages recently issued reports on SEIC. Mizuho reiterated a “buy” rating and issued a $72.00 price target on shares of SEI Investments in a research note on Friday, November 17th. Zacks Investment Research upgraded 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 note on Monday, October 30th. Finally, Oppenheimer upped their price target on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $70.25.
In other SEI Investments news, insider Wayne Withrow sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $70.35, for a total transaction of $703,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the company’s 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 transaction, the insider now owns 10,619,272 shares in the company, valued at approximately $686,429,742.08. The disclosure for this sale can be found here. Insiders have sold a total of 136,250 shares of company stock worth $9,057,050 in the last 90 days. Company insiders own 16.50% of the company’s stock.
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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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