SEI Investments Company $SEIC Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in SEI Investments Company (NASDAQ:SEIC) by 6.0% in the second quarter, HoldingsChannel.com reports. The firm owned 316,381 shares of the asset manager’s stock after selling 20,173 shares during the quarter. Rhumbline Advisers’ holdings in SEI Investments were worth $28,430,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SEIC. Cadence Bank raised its holdings in SEI Investments by 1.2% during the first quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock worth $819,000 after purchasing an additional 121 shares in the last quarter. Ethic Inc. grew its position in shares of SEI Investments by 3.0% in the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock valued at $403,000 after buying an additional 133 shares during the last quarter. Fifth Third Bancorp raised its stake in SEI Investments by 12.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after acquiring an additional 141 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in SEI Investments by 3.2% in the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after acquiring an additional 179 shares during the last quarter. Finally, Clark Capital Management Group Inc. lifted its position in SEI Investments by 1.2% in the first quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock valued at $1,180,000 after acquiring an additional 183 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SEIC has been the topic of several research reports. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Keefe, Bruyette & Woods decreased their target price on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Morgan Stanley boosted their price objective on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, Raymond James Financial raised their target price on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $104.40.

Insider Buying and Selling at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the sale, the director owned 75,641 shares of the company’s stock, valued at $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the transaction, the director directly owned 16,042 shares of the company’s stock, valued at $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 14.60% of the company’s stock.

SEI Investments Stock Up 0.8%

SEIC opened at $80.83 on Thursday. The business has a 50 day moving average price of $82.65 and a two-hundred day moving average price of $85.91. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The company has a market cap of $9.90 billion, a PE ratio of 14.86, a P/E/G ratio of 1.22 and a beta of 0.96. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business had revenue of $578.51 million for the quarter, compared to analyst estimates of $578.75 million. During the same quarter in the previous year, the company posted $1.19 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated a stock buyback program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

SEI Investments Company Profile

SEI Investments Company 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.