Rhumbline Advisers Acquires 9,859 Shares of SEI Investments Company $SEIC

Rhumbline Advisers increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,240 shares of the asset manager’s stock after purchasing an additional 9,859 shares during the period. Rhumbline Advisers owned approximately 0.27% of SEI Investments worth $27,681,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the business. Johnson Investment Counsel Inc. lifted its stake in SEI Investments by 0.5% in the third quarter. Johnson Investment Counsel Inc. now owns 29,852 shares of the asset manager’s stock valued at $2,533,000 after buying an additional 153 shares in the last quarter. Portside Wealth Group LLC raised its holdings in shares of SEI Investments by 15.7% during the third quarter. Portside Wealth Group LLC now owns 9,193 shares of the asset manager’s stock worth $780,000 after acquiring an additional 1,250 shares during the period. Bessemer Group Inc. raised its holdings in shares of SEI Investments by 15.1% during the third quarter. Bessemer Group Inc. now owns 4,585 shares of the asset manager’s stock worth $389,000 after acquiring an additional 602 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its position in SEI Investments by 3,554.3% in the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,042 shares of the asset manager’s stock valued at $2,295,000 after acquiring an additional 26,302 shares in the last quarter. Finally, Gallacher Capital Management LLC bought a new position in SEI Investments during the 3rd quarter worth about $237,000. 70.59% of the stock is owned by institutional investors.

Insider Activity at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 80,000 shares of the company’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total value of $6,988,800.00. Following the transaction, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This represents a 28.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. The trade was a 0.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 1.7%

Shares of NASDAQ:SEIC opened at $78.63 on Monday. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. The company has a market capitalization of $9.63 billion, a P/E ratio of 13.97 and a beta of 0.95. The company has a 50-day simple moving average of $84.50 and a 200 day simple moving average of $84.54.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The company had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. Sell-side analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a share repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

SEI Investments Announces Dividend

The business also recently declared a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were issued a $0.52 dividend. This represents a yield of 124.0%. The ex-dividend date of this dividend was Monday, December 29th. SEI Investments’s dividend payout ratio is currently 18.47%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group assumed coverage on SEI Investments in a report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target on the stock. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Morgan Stanley boosted their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a research report on Monday, January 5th. Seven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $110.17.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.