J. W. Coons Advisors LLC Makes New $218,000 Investment in SEI Investments Company $SEIC

J. W. Coons Advisors LLC bought a new position in SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 2,430 shares of the asset manager’s stock, valued at approximately $218,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its stake in SEI Investments by 6.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock worth $134,487,000 after acquiring an additional 111,065 shares in the last quarter. Boston Trust Walden Corp lifted its holdings in shares of SEI Investments by 3.3% in the 2nd quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager’s stock worth $123,079,000 after buying an additional 44,195 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of SEI Investments by 6.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock worth $62,186,000 after buying an additional 45,019 shares during the period. Millennium Management LLC lifted its holdings 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 worth $60,832,000 after buying an additional 605,252 shares during the period. Finally, Amundi lifted its holdings in shares of SEI Investments by 228.2% in 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 period. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In related news, CEO Ryan Hicke sold 35,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the transaction, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at $15,122,258. This represents a 16.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 23rd. The shares were 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 55,000 shares of company stock valued at $4,811,200 in the last ninety days. Corporate insiders own 14.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on SEIC. Morgan Stanley upped their target price on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lowered their target price on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Oppenheimer upped their target price on SEI Investments from $96.00 to $101.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Finally, Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 13th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $104.40.

SEI Investments Trading Up 0.9%

Shares of NASDAQ SEIC opened at $81.64 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The stock has a market capitalization of $10.00 billion, a P/E ratio of 15.01, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The business has a fifty day moving average price of $84.80 and a 200 day moving average price of $85.60.

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

SEI Investments declared that its Board of Directors has initiated a stock buyback plan on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.