SEI Investments (SEIC) Shares Bought by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP lifted its position in SEI Investments (NASDAQ:SEIC) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,551 shares of the asset manager’s stock after purchasing an additional 6,753 shares during the quarter. Dimensional Fund Advisors LP’s holdings in SEI Investments were worth $30,565,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Meeder Asset Management Inc. boosted its holdings in shares of SEI Investments by 7,575.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after purchasing an additional 2,424 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of 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. D.A. Davidson & CO. boosted its holdings in shares of SEI Investments by 9.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after purchasing an additional 253 shares in the last quarter. Legacy Advisors LLC purchased a new position in shares of SEI Investments in the 3rd quarter worth about $180,000. Finally, Paragon Capital Management Ltd purchased a new position in shares of SEI Investments in the 3rd quarter worth about $213,000. Hedge funds and other institutional investors own 70.46% of the company’s stock.
A number of equities analysts have recently issued reports on SEIC shares. Oppenheimer upped their price objective on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Zacks Investment Research upgraded SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Finally, Mizuho reiterated a “buy” rating and issued a $65.00 price objective on shares of SEI Investments in a report on Friday, October 20th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. SEI Investments currently has an average rating of “Buy” and a consensus price target of $70.25.
SEI Investments (SEIC) opened at $75.96 on Wednesday. SEI Investments has a fifty-two week low of $47.88 and a fifty-two week high of $77.24. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $12,070.32, a PE ratio of 33.03, a PEG ratio of 2.05 and a beta of 1.40.
SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $368.02 million during the quarter, compared to analysts’ expectations of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. SEI Investments’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.53 EPS. research analysts anticipate that SEI Investments will post 2.36 earnings per share for the current fiscal year.
The business also recently announced a semiannual dividend, which was paid on Monday, January 8th. Investors of record on Wednesday, December 27th were issued a dividend of $0.30 per share. The ex-dividend date was Tuesday, December 26th. This is a boost from SEI Investments’s previous semiannual dividend of $0.28. This represents a yield of 0.85%. SEI Investments’s dividend payout ratio is currently 26.09%.
SEI Investments announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.
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SEI Investments Company 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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