SG Americas Securities LLC Purchases 6,498 Shares of SEI Investments Company $SEIC

SG Americas Securities LLC boosted its position in SEI Investments Company (NASDAQ:SEIC) by 118.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,986 shares of the asset manager’s stock after acquiring an additional 6,498 shares during the period. SG Americas Securities LLC’s holdings in SEI Investments were worth $1,077,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SEIC. Addison Advisors LLC raised its stake in shares of SEI Investments by 117.6% during the second quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 247 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Harbor Capital Advisors Inc. purchased a new position in SEI Investments during the 2nd quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. raised its position in SEI Investments by 252.1% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 363 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in SEI Investments by 12.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after buying an additional 141 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the transaction, the director owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total transaction of $856,600.00. Following the transaction, 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 disclosure for this sale is available in the SEC filing. 14.60% of the stock is currently owned by corporate insiders.

SEI Investments Price Performance

SEIC opened at $80.04 on Friday. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. The stock has a fifty day simple moving average of $83.05 and a two-hundred day simple moving average of $85.93. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The firm had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.19 EPS. Research analysts predict that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a share repurchase program on Friday, October 24th that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have recently issued reports on SEIC. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price target on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a report on Monday, October 13th. Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Morgan Stanley upped their price objective on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, September 19th. Finally, Raymond James Financial lifted their target price on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and a consensus price target of $104.40.

SEI Investments 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.