RPg Family Wealth Advisory LLC Trims Position in SEI Investments (SEIC)
RPg Family Wealth Advisory LLC lessened its stake in SEI Investments (NASDAQ:SEIC) by 26.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 50,046 shares of the asset manager’s stock after selling 18,243 shares during the period. SEI Investments comprises 2.4% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 17th biggest holding. RPg Family Wealth Advisory LLC’s holdings in SEI Investments were worth $3,129,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Private Capital Group LLC raised its position in SEI Investments by 1,562.0% in the first quarter. Private Capital Group LLC now owns 1,662 shares of the asset manager’s stock worth $125,000 after purchasing an additional 1,562 shares in the last quarter. IFP Advisors Inc raised its position in SEI Investments by 135.3% in the first quarter. IFP Advisors Inc now owns 1,746 shares of the asset manager’s stock worth $131,000 after purchasing an additional 1,004 shares in the last quarter. Cerebellum GP LLC raised its position in SEI Investments by 2,524.0% in the second quarter. Cerebellum GP LLC now owns 2,729 shares of the asset manager’s stock worth $171,000 after purchasing an additional 2,625 shares in the last quarter. Cape Cod Five Cents Savings Bank acquired a new position in SEI Investments in the first quarter worth about $208,000. Finally, Hartford Investment Management Co. acquired a new position in SEI Investments in the second quarter worth about $211,000. Institutional investors and hedge funds own 68.86% of the company’s stock.
In other news, EVP Kevin Barr sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $59.14, for a total transaction of $1,478,500.00. Following the sale, the executive vice president now directly owns 69,134 shares of the company’s stock, valued at $4,088,584.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $66.52, for a total transaction of $1,330,400.00. The disclosure for this sale can be found here. Insiders have sold 47,973 shares of company stock worth $2,986,744 over the last three months. 16.50% of the stock is owned by insiders.
SEIC opened at $62.86 on Friday. SEI Investments has a one year low of $55.72 and a one year high of $78.35. The company has a market cap of $9.86 billion, a PE ratio of 27.09, a P/E/G ratio of 1.66 and a beta of 1.15.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Thursday, July 19th. The asset manager reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.01). SEI Investments had a net margin of 30.25% and a return on equity of 29.98%. The company had revenue of $404.80 million for the quarter, compared to the consensus estimate of $405.58 million. During the same period last year, the company earned $0.57 earnings per share. SEI Investments’s revenue for the quarter was up 8.7% compared to the same quarter last year. analysts anticipate that SEI Investments will post 3.15 EPS for the current fiscal year.
SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 30th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
About SEI Investments
SEI Investments Co is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.
Receive News & Ratings for SEI Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments and related companies with MarketBeat.com's FREE daily email newsletter.