SG Americas Securities LLC Has $404,000 Holdings in SEI Investments Company (SEIC)
SG Americas Securities LLC trimmed its stake in SEI Investments Company (NASDAQ:SEIC) by 84.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,613 shares of the asset manager’s stock after selling 36,351 shares during the period. SG Americas Securities LLC’s holdings in SEI Investments were worth $404,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its stake in SEI Investments by 21.5% in the third quarter. Russell Investments Group Ltd. now owns 102,928 shares of the asset manager’s stock worth $6,285,000 after purchasing an additional 18,203 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in SEI Investments in the third quarter worth $648,000. Rhumbline Advisers boosted its stake in SEI Investments by 5.7% in the third quarter. Rhumbline Advisers now owns 307,510 shares of the asset manager’s stock worth $18,777,000 after purchasing an additional 16,528 shares in the last quarter. Court Place Advisors LLC boosted its stake in SEI Investments by 1.1% in the third quarter. Court Place Advisors LLC now owns 88,107 shares of the asset manager’s stock worth $5,380,000 after purchasing an additional 950 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in SEI Investments by 242.8% in the third quarter. Toronto Dominion Bank now owns 5,698 shares of the asset manager’s stock worth $348,000 after purchasing an additional 4,036 shares in the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $64.64, for a total value of $3,232,000.00. Following the transaction, the insider now owns 10,619,272 shares of the company’s stock, valued at $686,429,742.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $58.77, for a total value of $1,175,400.00. Following the completion of the transaction, the insider now directly owns 32,540 shares in the company, valued at approximately $1,912,375.80. The disclosure for this sale can be found here. Insiders have sold 206,250 shares of company stock worth $13,246,650 in the last ninety days. 16.50% of the stock is currently owned by insiders.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $384.43 million. During the same quarter in the prior year, the firm posted $0.53 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. analysts forecast that SEI Investments Company will post 2.35 EPS for the current fiscal year.
SEI Investments declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The company also recently declared a semiannual dividend, which will be paid on Monday, January 8th. Stockholders of record on Wednesday, December 27th will be paid a dividend of $0.30 per share. This represents a dividend yield of 0.85%. The ex-dividend date of this dividend is Tuesday, December 26th. This is a positive change from SEI Investments’s previous semiannual dividend of $0.28. SEI Investments’s dividend payout ratio is 24.35%.
SEIC has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research note on Sunday, September 3rd. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Oppenheimer upped 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. Finally, Mizuho reaffirmed a “buy” rating and set a $65.00 price target on shares of SEI Investments in a research note on Friday, October 20th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. SEI Investments currently has a consensus rating of “Buy” and an average target price of $67.25.
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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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