Dynamic Technology Lab Private Ltd Invests $952,000 in SEI Investments Company $SEIC

Dynamic Technology Lab Private Ltd bought a new stake in SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 10,589 shares of the asset manager’s stock, valued at approximately $952,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Lord Abbett & CO. LLC purchased a new position in shares of SEI Investments during the first quarter worth about $51,773,000. Millennium Management LLC boosted its position in shares of SEI Investments by 339.3% in the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock valued at $60,832,000 after purchasing an additional 605,252 shares during the period. Amundi grew its stake in SEI Investments by 228.2% during the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock worth $57,472,000 after buying an additional 543,753 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new position in SEI Investments during the second quarter worth approximately $37,490,000. Finally, Azora Capital LP purchased a new stake in SEI Investments in the first quarter valued at approximately $28,852,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares of the company’s stock, valued at $6,479,408.06. This trade represents a 11.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the transaction, the director directly owned 16,042 shares in the company, valued at $1,386,189.22. This represents a 38.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.60% of the company’s stock.

SEI Investments Stock Up 1.6%

Shares of NASDAQ:SEIC opened at $80.04 on Friday. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The firm’s 50-day simple moving average is $83.05 and its 200-day simple moving average is $85.89. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 1.22 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The firm had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. During the same period in the prior year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase program on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

SEIC has been the topic of a number of research reports. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Raymond James Financial raised their price objective on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Keefe, Bruyette & Woods reduced their target price on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Morgan Stanley raised their price target on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $104.40.

About SEI Investments

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.