SEI Investments Company (SEIC) Shares Bought by Prudential Financial Inc.
Prudential Financial Inc. boosted its position in SEI Investments Company (NASDAQ:SEIC) by 88.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 509,716 shares of the asset manager’s stock after acquiring an additional 239,000 shares during the period. Prudential Financial Inc. owned 0.32% of SEI Investments worth $31,123,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in SEI Investments by 1.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock valued at $21,339,000 after acquiring an additional 6,325 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in SEI Investments by 21.3% during the second quarter. Victory Capital Management Inc. now owns 27,382 shares of the asset manager’s stock worth $1,473,000 after buying an additional 4,808 shares during the last quarter. Wedbush Securities Inc. bought a new position in SEI Investments during the second quarter worth about $208,000. Aviva PLC boosted its holdings in SEI Investments by 5.6% during the second quarter. Aviva PLC now owns 78,736 shares of the asset manager’s stock worth $4,235,000 after buying an additional 4,190 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its holdings in SEI Investments by 32.6% during the second quarter. State of Wisconsin Investment Board now owns 116,621 shares of the asset manager’s stock worth $6,272,000 after buying an additional 28,640 shares during the last quarter. Institutional investors and hedge funds own 68.84% of the company’s stock.
In related news, Director William Doran sold 10,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. Following the sale, the director now owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Joseph P. Ujobai sold 17,500 shares of SEI Investments stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.46, for a total value of $1,128,050.00. Following the completion of the sale, the insider now directly owns 30,040 shares in the company, valued at approximately $1,936,378.40. The disclosure for this sale can be found here. In the last three months, insiders sold 157,500 shares of company stock worth $9,772,250. 16.50% of the stock is owned by insiders.
Shares of SEI Investments Company (NASDAQ SEIC) opened at $64.91 on Wednesday. SEI Investments Company has a 1 year low of $46.20 and a 1 year high of $66.00. The company has a market capitalization of $10,183.79, a PE ratio of 28.12, a PEG 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 (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The business had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. During the same quarter last year, the firm earned $0.53 EPS. SEI Investments’s revenue for the quarter was up 3.8% compared to the same quarter last year. research analysts forecast that SEI Investments Company will post 2.35 EPS for the current year.
SEI Investments declared that its board has authorized a share 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 purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
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A number of equities analysts have issued reports on SEIC shares. upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, October 30th. reaffirmed a “buy” rating and set a $65.00 price target on shares of SEI Investments in a research report on Friday, October 20th. lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. reaffirmed a “hold” rating and set a $58.00 price target on shares of SEI Investments in a research report on Sunday, September 3rd. Finally, Oppenheimer Holdings, Inc. raised their price target on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. SEI Investments presently has a consensus rating of “Buy” and a consensus price target 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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