First Manhattan Co. Has $315,000 Holdings in SEI Investments Company (SEIC)
First Manhattan Co. raised its position in shares of SEI Investments Company (NASDAQ:SEIC) by 63.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,165 shares of the asset manager’s stock after buying an additional 2,000 shares during the quarter. First Manhattan Co.’s holdings in SEI Investments were worth $315,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. lifted its position in shares of SEI Investments by 7,575.0% during the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock valued at $150,000 after buying an additional 2,424 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of SEI Investments by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after buying an additional 203 shares during the last quarter. D.A. Davidson & CO. lifted its position in shares of SEI Investments by 9.3% during the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after buying an additional 253 shares during the last quarter. Mosaic Family Wealth LLC lifted its position in shares of SEI Investments by 6.7% during the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after buying an additional 200 shares during the last quarter. Finally, Wedbush Securities Inc. purchased a new stake in shares of SEI Investments during the second quarter valued at about $208,000. 68.75% of the stock is owned by institutional investors and hedge funds.
SEI Investments Company (SEIC) opened at $64.91 on Friday. The firm has a market cap of $10,172.77, a PE ratio of 28.09, a PEG ratio of 2.29 and a beta of 1.38. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.41 and a current ratio of 5.52.
SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The firm had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. During the same quarter last year, the firm posted $0.53 EPS. The business’s revenue was up 3.8% on a year-over-year basis. research analysts forecast that SEI Investments Company will post 2.35 earnings per share for the current fiscal year.
SEI Investments declared that its Board of Directors has authorized a share repurchase plan on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.
In other SEI Investments news, insider Dennis Mcgonigle sold 15,000 shares of the firm’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $56.35, for a total value of $845,250.00. Following the transaction, the insider now owns 612,034 shares in the company, valued at approximately $34,488,115.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Doran sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the completion of the transaction, the director now owns 671,015 shares in the company, valued at approximately $38,576,652.35. The disclosure for this sale can be found here. Insiders have sold a total of 95,000 shares of company stock worth $5,609,750 in the last quarter. Insiders own 16.50% of the company’s stock.
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SEIC has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a report on Monday, October 30th. Mizuho restated a “buy” rating and set a $65.00 price objective on shares of SEI Investments in a report on Friday, October 20th. BidaskClub downgraded shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price objective on shares of SEI Investments in a report on Sunday, September 3rd. Finally, Oppenheimer Holdings, Inc. upped their price objective on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. SEI Investments currently has an average rating of “Buy” and an average target price of $65.50.
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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