Public Employees Retirement System of Ohio Buys 26,701 Shares of SEI Investments Company (SEIC)
Public Employees Retirement System of Ohio increased its stake in SEI Investments Company (NASDAQ:SEIC) by 10.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 292,871 shares of the asset manager’s stock after buying an additional 26,701 shares during the period. Public Employees Retirement System of Ohio owned 0.19% of SEI Investments worth $17,883,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Invictus RG purchased a new stake in shares of SEI Investments in the 3rd quarter worth approximately $111,000. Pacer Advisors Inc. grew its stake in shares of SEI Investments by 8.2% in the 2nd quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after buying an additional 203 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of SEI Investments by 7,575.0% in the 3rd quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after buying an additional 2,424 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of SEI Investments by 9.3% in the 2nd quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after buying an additional 253 shares during the last quarter. Finally, Mosaic Family Wealth LLC grew its stake in shares of SEI Investments by 6.7% in the 2nd quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock worth $171,000 after buying an additional 200 shares during the last quarter. Institutional investors own 70.55% of the company’s stock.
Several analysts recently weighed in on the company. Oppenheimer upped their price target on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Mizuho reaffirmed a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a research report on Friday, November 17th. Zacks Investment Research raised SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research report on Sunday, September 3rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $67.25.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.06. The business had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. equities analysts anticipate that SEI Investments Company will post 2.35 earnings per share for the current fiscal year.
The firm also recently disclosed a semiannual dividend, which will be paid on Monday, January 8th. Investors of record on Wednesday, December 27th will be given a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, December 26th. This is a boost from SEI Investments’s previous semiannual dividend of $0.28. This represents a yield of 0.85%. SEI Investments’s dividend payout ratio is 24.45%.
SEI Investments declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $58.77, for a total transaction of $1,175,400.00. Following the transaction, the insider now directly owns 32,540 shares of the company’s stock, valued at approximately $1,912,375.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction on Thursday, November 2nd. The shares were sold at an average price of $64.64, for a total value of $3,232,000.00. Following the transaction, the insider now directly owns 10,619,272 shares in the company, valued at $686,429,742.08. The disclosure for this sale can be found here. Insiders sold a total of 206,250 shares of company stock worth $13,246,650 over the last ninety days. 16.50% of the stock is currently owned by insiders.
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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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