Nissay Asset Management Corp Japan ADV Cuts Position in SEI Investments (SEIC)
Nissay Asset Management Corp Japan ADV reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 6.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,556 shares of the asset manager’s stock after selling 858 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in SEI Investments were worth $785,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of the stock. Bank of New York Mellon Corp raised its position in shares of SEI Investments by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,810,809 shares of the asset manager’s stock worth $113,211,000 after purchasing an additional 32,568 shares during the last quarter. American Capital Management Inc. grew its stake in SEI Investments by 1.3% in the 2nd quarter. American Capital Management Inc. now owns 865,448 shares of the asset manager’s stock worth $54,108,000 after acquiring an additional 11,135 shares during the period. Legal & General Group Plc grew its stake in SEI Investments by 2.8% in the 1st quarter. Legal & General Group Plc now owns 694,500 shares of the asset manager’s stock worth $52,025,000 after acquiring an additional 18,721 shares during the period. Schwab Charles Investment Management Inc. grew its stake in SEI Investments by 13.2% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 628,055 shares of the asset manager’s stock worth $47,048,000 after acquiring an additional 73,474 shares during the period. Finally, Principal Financial Group Inc. grew its stake in SEI Investments by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 574,989 shares of the asset manager’s stock worth $43,072,000 after acquiring an additional 19,933 shares during the period. Hedge funds and other institutional investors own 69.13% of the company’s stock.
In other news, EVP Kevin Barr sold 25,000 shares of the business’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $59.14, for a total transaction of $1,478,500.00. Following the completion of the sale, the executive vice president now directly owns 69,134 shares of the company’s stock, valued at approximately $4,088,584.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph P. Ujobai sold 1,500 shares of the business’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $59.80, for a total transaction of $89,700.00. Following the sale, the insider now directly owns 29,567 shares of the company’s stock, valued at $1,768,106.60. The disclosure for this sale can be found here. Insiders sold a total of 47,973 shares of company stock valued at $2,986,744 over the last ninety days. 16.50% of the stock is owned by corporate insiders.
SEIC stock opened at $62.24 on Friday. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of 22.02, a PEG ratio of 1.64 and a beta of 1.15. SEI Investments has a one year low of $55.72 and a one year high of $78.35.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Thursday, July 19th. The asset manager reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.01). The firm had revenue of $404.80 million during the quarter, compared to analysts’ expectations of $405.58 million. SEI Investments had a return on equity of 29.98% and a net margin of 30.25%. The firm’s revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. equities analysts anticipate that SEI Investments will post 3.15 earnings per share for the current fiscal year.
SEI Investments announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 30th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 1.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.
About SEI Investments
SEI Investments Co 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.
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