Russell Investments Group Ltd. Has $6.29 Million Stake in SEI Investments Company (SEIC)
Russell Investments Group Ltd. increased its position in SEI Investments Company (NASDAQ:SEIC) by 21.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 102,928 shares of the asset manager’s stock after buying an additional 18,203 shares during the period. Russell Investments Group Ltd. owned about 0.07% of SEI Investments worth $6,285,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Mosaic Family Wealth LLC raised its position in shares of SEI Investments by 6.7% in the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock valued at $171,000 after buying an additional 200 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of SEI Investments by 8.2% in the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock valued at $144,000 after buying an additional 203 shares during the last quarter. D.A. Davidson & CO. raised its position in shares of SEI Investments by 9.3% in the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock valued at $160,000 after buying an additional 253 shares during the last quarter. Voya Investment Management LLC raised its position in shares of SEI Investments by 0.6% in the second quarter. Voya Investment Management LLC now owns 51,645 shares of the asset manager’s stock valued at $2,777,000 after buying an additional 331 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its position in shares of SEI Investments by 2.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 23,493 shares of the asset manager’s stock valued at $1,130,000 after buying an additional 451 shares during the last quarter. 70.55% of the stock is owned by institutional investors and hedge funds.
Shares of SEI Investments Company (NASDAQ:SEIC) opened at $71.22 on Friday. SEI Investments Company has a twelve month low of $47.88 and a twelve month high of $71.77. The stock has a market cap of $11,133.36, a P/E ratio of 30.74, a P/E/G ratio of 2.51 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.06. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The firm had revenue of $368.02 million during the quarter, compared to the consensus estimate of $384.43 million. During the same period in the previous year, the firm earned $0.53 earnings per share. SEI Investments’s revenue was up 3.8% compared to the same quarter last year. equities analysts anticipate that SEI Investments Company will post 2.35 EPS for the current year.
SEI Investments announced that its board has initiated a stock repurchase program on Wednesday, October 25th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
In related news, insider Dennis Mcgonigle sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $69.63, for a total value of $1,044,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Wayne Withrow sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $70.35, for a total transaction of $703,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 206,250 shares of company stock valued at $13,246,650. 16.50% of the stock is owned by insiders.
A number of equities analysts have recently weighed in on the stock. Mizuho reissued 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 lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $58.00 price objective on shares of SEI Investments in a research report on Sunday, September 3rd. Finally, Oppenheimer boosted their price objective on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $67.25.
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SEI Investments Profile
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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