SEI Investments Company (SEIC) Director Sarah Blumenstein Sells 5,000 Shares of Stock
SEI Investments Company (NASDAQ:SEIC) Director Sarah Blumenstein sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $65.33, for a total transaction of $326,650.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Shares of SEI Investments Company (NASDAQ SEIC) traded up $0.70 on Friday, reaching $67.10. The company’s stock had a trading volume of 818,397 shares, compared to its average volume of 561,191. SEI Investments Company has a 12-month low of $46.20 and a 12-month high of $67.15. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.41 and a current ratio of 5.52. The firm has a market capitalization of $10,470.00, a price-to-earnings ratio of 28.22, a PEG ratio of 2.30 and a beta of 1.38.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ 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 analysts’ expectations of $384.43 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. equities research analysts expect that SEI Investments Company will post 2.35 EPS for the current fiscal year.
SEI Investments announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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A number of institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in SEI Investments by 1.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 396,776 shares of the asset manager’s stock worth $21,339,000 after acquiring an additional 6,325 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of SEI Investments by 21.3% during the 2nd quarter. Victory Capital Management Inc. now owns 27,382 shares of the asset manager’s stock valued at $1,473,000 after purchasing an additional 4,808 shares during the last quarter. Wedbush Securities Inc. bought a new position in SEI Investments during the 2nd quarter worth approximately $208,000. Aviva PLC lifted its holdings in SEI Investments by 5.6% in the 2nd 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 period. Finally, American Capital Management Inc. lifted its holdings in SEI Investments by 0.5% in the 3rd quarter. American Capital Management Inc. now owns 849,780 shares of the asset manager’s stock worth $51,888,000 after buying an additional 4,620 shares during the period. 68.84% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently commented on the company. Mizuho reaffirmed a “buy” rating and issued a $72.00 price target on shares of SEI Investments in a research note on Friday. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 target price on shares of SEI Investments in a research note on Thursday, July 27th. Oppenheimer Holdings, Inc. increased their target price on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Zacks Investment Research raised SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $67.25.
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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