Insider Selling: SEI Investments Company (SEIC) Insider Sells $1,128,050.00 in Stock
SEI Investments Company (NASDAQ:SEIC) insider Joseph P. Ujobai sold 17,500 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.46, for a total transaction of $1,128,050.00. Following the transaction, the insider now owns 30,040 shares of the company’s stock, valued at approximately $1,936,378.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
SEI Investments Company (NASDAQ:SEIC) opened at $64.68 on Friday. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03. SEI Investments Company has a one year low of $44.64 and a one year high of $66.00. The firm has a market cap of $10,185.35, a P/E ratio of 28.12, a price-to-earnings-growth ratio of 2.29 and a beta of 1.38.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.57 by $0.06. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The firm had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. During the same quarter in the previous year, the firm posted $0.53 earnings per share. The business’s revenue was up 3.8% on a year-over-year basis. equities research analysts expect that SEI Investments Company will post 2.35 EPS for the current year.
SEI Investments declared that its Board of Directors has authorized a share buyback plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
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A number of institutional investors and hedge funds have recently made changes to their positions in SEIC. BlackRock Inc. lifted its stake in SEI Investments by 5.5% in the second quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock valued at $723,225,000 after buying an additional 697,125 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in SEI Investments by 47.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock valued at $102,598,000 after buying an additional 615,539 shares in the last quarter. Vanguard Group Inc. lifted its stake in SEI Investments by 2.8% in the second quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock valued at $713,155,000 after buying an additional 357,187 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in SEI Investments by 51.2% in the third quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock valued at $59,130,000 after buying an additional 328,037 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in SEI Investments by 88.3% in the third quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock valued at $31,123,000 after buying an additional 239,000 shares in the last quarter. 69.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on SEIC shares. Zacks Investment Research cut shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday, September 6th. 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. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Mizuho restated a “buy” rating and set a $65.00 price objective on shares of SEI Investments in a report on Friday, October 20th. Finally, Oppenheimer Holdings, Inc. boosted 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 given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $65.50.
About SEI Investments
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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