First Trust Advisors LP Buys 15,101 Shares of SEI Investments Company (SEIC)
First Trust Advisors LP grew its stake in SEI Investments Company (NASDAQ:SEIC) by 30.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,949 shares of the asset manager’s stock after buying an additional 15,101 shares during the period. First Trust Advisors LP’s holdings in SEI Investments were worth $3,905,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of SEIC. OppenheimerFunds Inc. increased its stake in shares of SEI Investments by 14.8% in the first quarter. OppenheimerFunds Inc. now owns 6,710 shares of the asset manager’s stock valued at $338,000 after buying an additional 863 shares during the period. FMR LLC increased its stake in shares of SEI Investments by 1.8% in the first quarter. FMR LLC now owns 245,094 shares of the asset manager’s stock valued at $12,362,000 after buying an additional 4,244 shares during the period. Teachers Advisors LLC increased its stake in shares of SEI Investments by 3.2% in the first quarter. Teachers Advisors LLC now owns 126,330 shares of the asset manager’s stock valued at $6,372,000 after buying an additional 3,954 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of SEI Investments by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 488,046 shares of the asset manager’s stock valued at $24,616,000 after buying an additional 9,155 shares during the period. Finally, Bank of Montreal Can increased its stake in shares of SEI Investments by 5.4% in the second quarter. Bank of Montreal Can now owns 34,917 shares of the asset manager’s stock valued at $1,878,000 after buying an additional 1,787 shares during the period. 68.84% of the stock is owned by institutional investors.
Shares of SEI Investments Company (NASDAQ:SEIC) opened at $67.10 on Friday. SEI Investments Company has a one year low of $46.20 and a one year high of $67.15. The company has a market capitalization of $10,566.44, a P/E ratio of 29.17, a P/E/G ratio of 2.38 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.41 and a current ratio of 5.52.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, topping the 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 during the quarter, compared to analysts’ expectations of $384.43 million. During the same quarter last year, the firm posted $0.53 earnings per share. The firm’s revenue was up 3.8% on a year-over-year basis. analysts forecast that SEI Investments Company will post 2.35 EPS for the current fiscal year.
SEI Investments announced that its board has approved a stock repurchase program on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
SEIC has been the subject of several recent research reports. Mizuho reissued a “buy” rating and issued a $72.00 price target on shares of SEI Investments in a research note on Friday. 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 research note on Monday, October 30th. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a research note on Sunday, September 3rd. Finally, Oppenheimer Holdings, Inc. increased their price target on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $67.25.
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In related news, Director Sarah Blumenstein sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total transaction of $326,650.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director William Doran sold 10,000 shares of the firm’s 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 directly owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The disclosure for this sale can be found here. Insiders have sold 162,500 shares of company stock valued at $10,098,900 in the last ninety days. 16.50% of the stock is currently owned by insiders.
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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