Ingalls & Snyder LLC lessened its position in SEI Investments (NASDAQ:SEIC) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,783 shares of the asset manager’s stock after selling 4,000 shares during the period. Ingalls & Snyder LLC’s holdings in SEI Investments were worth $4,727,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Invictus RG acquired a new position in SEI Investments in the 3rd quarter worth about $111,000. Meeder Asset Management Inc. increased its holdings in 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 purchasing an additional 2,424 shares in the last quarter. D.A. Davidson & CO. grew its position 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 valued at $160,000 after buying an additional 253 shares during the last quarter. Legacy Advisors LLC bought a new stake in shares of SEI Investments in the 3rd quarter valued at about $180,000. Finally, Venturi Wealth Management LLC bought a new stake in shares of SEI Investments in the 3rd quarter valued at about $208,000. 70.46% of the stock is owned by institutional investors and hedge funds.
In related news, insider Wayne Withrow sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total transaction of $703,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dennis Mcgonigle sold 15,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $69.63, for a total value of $1,044,450.00. The disclosure for this sale can be found here. Insiders sold a total of 136,250 shares of company stock worth $9,057,050 in the last quarter. Corporate insiders own 16.50% of the company’s stock.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $384.43 million. During the same quarter in the previous year, the company posted $0.53 EPS. The business’s revenue was up 3.8% on a year-over-year basis. equities research analysts expect that SEI Investments will post 2.36 earnings per share for the current fiscal year.
SEI Investments announced that its Board of Directors has approved a stock repurchase plan on Wednesday, October 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a semiannual dividend, which was paid on Monday, January 8th. Shareholders of record on Wednesday, December 27th were given a $0.30 dividend. This represents a dividend yield of 0.85%. The ex-dividend date was Tuesday, December 26th. This is a positive change from SEI Investments’s previous semiannual dividend of $0.28. SEI Investments’s payout ratio is 26.20%.
A number of equities research analysts have commented 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 research report on Monday, October 30th. Mizuho reiterated a “buy” rating and issued a $65.00 price target on shares of SEI Investments in a research report on Friday, October 20th. Finally, Oppenheimer upped their price target on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $70.25.
SEI Investments Company 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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