Banco Santander S.A. lifted its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 23.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,630 shares of the asset manager’s stock after acquiring an additional 19,540 shares during the quarter. Banco Santander S.A. owned approximately 0.07% of SEI Investments worth $6,179,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. bought a new stake in shares of SEI Investments in the 1st quarter worth $36,000. Artemis Wealth Advisors LLC bought a new stake in shares of SEI Investments in the 1st quarter worth $40,000. Quadrant Capital Group LLC grew its position in SEI Investments by 104.6% during the first quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager’s stock valued at $51,000 after buying an additional 431 shares during the period. UMB Bank N A MO bought a new position in SEI Investments during the fourth quarter valued at about $52,000. Finally, Lazard Asset Management LLC grew its position in SEI Investments by 114.4% during the fourth quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager’s stock valued at $53,000 after buying an additional 469 shares during the period. Institutional investors own 70.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on SEIC. The Goldman Sachs Group reduced their price target on shares of SEI Investments to $58.00 in a research report on Friday, July 22nd. Keefe, Bruyette & Woods reduced their price target on shares of SEI Investments from $62.00 to $55.00 in a research report on Thursday, July 14th. William Blair restated a “mkt perform” rating on shares of SEI Investments in a research report on Monday, July 25th. Morgan Stanley reduced their price target on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research report on Thursday, July 21st. Finally, StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $60.50.
SEI Investments Price Performance
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The firm had revenue of $481.67 million during the quarter, compared to analysts’ expectations of $472.18 million. During the same period in the previous year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. As a group, equities research analysts anticipate that SEI Investments will post 3.73 EPS for the current year.
SEI Investments Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Monday, June 13th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.88%. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 10th. SEI Investments’s dividend payout ratio is presently 19.18%.
SEI Investments announced that its Board of Directors has authorized a share repurchase plan on Wednesday, June 1st that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Insider Transactions at SEI Investments
In other news, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.15, for a total value of $1,930,250.00. Following the sale, the insider now directly owns 576,663 shares of the company’s stock, valued at $31,802,964.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 25.40% of the company’s stock.
SEI Investments Profile
SEI Investments Company 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.
- Get a free copy of the StockNews.com research report on SEI Investments (SEIC)
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