Rhumbline Advisers Buys 16,528 Shares of SEI Investments Company (SEIC)
Rhumbline Advisers raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 5.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,510 shares of the asset manager’s stock after purchasing an additional 16,528 shares during the period. Rhumbline Advisers owned 0.20% of SEI Investments worth $18,777,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the business. Gateway Investment Advisers LLC raised its position in SEI Investments by 2.6% during the second quarter. Gateway Investment Advisers LLC now owns 4,559 shares of the asset manager’s stock valued at $245,000 after purchasing an additional 114 shares during the period. Mosaic Family Wealth LLC raised its position in SEI Investments by 6.7% during the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 200 shares during the period. Pacer Advisors Inc. raised its position in SEI Investments by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after purchasing an additional 203 shares during the period. D.A. Davidson & CO. raised its position in SEI Investments by 9.3% during the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after purchasing an additional 253 shares during the period. Finally, Voya Investment Management LLC raised its position in SEI Investments by 0.6% during the second quarter. Voya Investment Management LLC now owns 51,645 shares of the asset manager’s stock valued at $2,777,000 after purchasing an additional 331 shares during the period. Institutional investors and hedge funds own 69.17% of the company’s stock.
In related news, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $58.77, for a total value of $1,175,400.00. Following the transaction, the insider now owns 32,540 shares of the company’s stock, valued at $1,912,375.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William Doran sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $57.49, for a total value of $574,900.00. Following the completion of the transaction, the director now directly owns 671,015 shares in the company, valued at approximately $38,576,652.35. The disclosure for this sale can be found here. In the last three months, insiders sold 162,500 shares of company stock worth $10,098,900. 16.50% of the stock is owned by insiders.
Shares of SEI Investments Company (NASDAQ SEIC) opened at $67.67 on Tuesday. 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 fifty-two week low of $46.20 and a fifty-two week high of $67.99. The firm has a market capitalization of $10,570.00, a P/E ratio of 29.17, a PEG ratio of 2.38 and a beta of 1.38.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.06. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The firm had revenue of $368.02 million for the quarter, compared to the consensus estimate of $384.43 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. research analysts anticipate that SEI Investments Company will post 2.35 EPS for the current year.
SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.
Several equities research analysts have recently weighed in on SEIC shares. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a report on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 price target on shares of SEI Investments in a report on Sunday, September 3rd. BidaskClub downgraded SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Mizuho reiterated a “buy” rating and issued a $65.00 price target on shares of SEI Investments in a report on Friday, October 20th. Finally, Oppenheimer Holdings, Inc. increased their price target on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. SEI Investments has an average rating of “Buy” and an average target price of $67.25.
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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