Nomura Holdings Inc. Buys New Holdings in SEI Investments (SEIC)
Nomura Holdings Inc. bought a new position in SEI Investments (NASDAQ:SEIC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,316 shares of the asset manager’s stock, valued at approximately $457,000.
Several other hedge funds also recently added to or reduced their stakes in the company. Andra AP fonden lifted its holdings in shares of SEI Investments by 30.6% in the second quarter. Andra AP fonden now owns 109,300 shares of the asset manager’s stock worth $6,833,000 after buying an additional 25,600 shares in the last quarter. Schroder Investment Management Group lifted its holdings in shares of SEI Investments by 676.0% in the second quarter. Schroder Investment Management Group now owns 19,634 shares of the asset manager’s stock worth $1,233,000 after buying an additional 17,104 shares in the last quarter. Verition Fund Management LLC lifted its holdings in shares of SEI Investments by 61.2% in the second quarter. Verition Fund Management LLC now owns 20,250 shares of the asset manager’s stock worth $1,266,000 after buying an additional 7,688 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of SEI Investments by 177.3% in the second quarter. Advisors Asset Management Inc. now owns 13,362 shares of the asset manager’s stock worth $588,000 after buying an additional 8,544 shares in the last quarter. Finally, Argent Trust Co purchased a new position in shares of SEI Investments in the second quarter worth $279,000. 68.81% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Dennis Mcgonigle sold 15,000 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $62.83, for a total value of $942,450.00. Following the sale, the insider now owns 27,540 shares of the company’s stock, valued at $1,730,338.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kevin Barr sold 25,000 shares of the 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 in the company, valued at approximately $4,088,584.76. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,973 shares of company stock worth $2,598,794. 17.30% of the stock is owned by insiders.
SEI Investments stock opened at $61.58 on Thursday. The firm has a market cap of $9.75 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 1.65 and a beta of 1.14. SEI Investments has a 52-week low of $58.15 and a 52-week high of $78.35.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Thursday, July 19th. The asset manager reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). The business had revenue of $404.80 million for the quarter, compared to analysts’ expectations of $405.58 million. SEI Investments had a net margin of 30.25% and a return on equity of 29.98%. SEI Investments’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. equities analysts forecast that SEI Investments will post 3.15 EPS for the current year.
SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Wednesday, May 30th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.
SEI Investments Profile
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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