SEI Investments (NASDAQ:SEIC) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lifted its stake in shares of SEI Investments (NASDAQ:SEICGet Rating) by 21.0% during the first quarter, Holdings Channel.com reports. The fund owned 10,515 shares of the asset manager’s stock after purchasing an additional 1,828 shares during the period. DekaBank Deutsche Girozentrale’s holdings in SEI Investments were worth $655,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SEIC. Parallel Advisors LLC boosted its holdings in SEI Investments by 129.7% during the fourth quarter. Parallel Advisors LLC now owns 1,900 shares of the asset manager’s stock worth $116,000 after buying an additional 1,073 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in SEI Investments by 14.2% during the fourth quarter. Russell Investments Group Ltd. now owns 122,683 shares of the asset manager’s stock worth $7,478,000 after buying an additional 15,231 shares in the last quarter. Signaturefd LLC boosted its holdings in SEI Investments by 34.4% during the fourth quarter. Signaturefd LLC now owns 851 shares of the asset manager’s stock worth $52,000 after buying an additional 218 shares in the last quarter. Van ECK Associates Corp boosted its holdings in SEI Investments by 4.5% during the fourth quarter. Van ECK Associates Corp now owns 13,906 shares of the asset manager’s stock worth $847,000 after buying an additional 596 shares in the last quarter. Finally, JLB & Associates Inc. boosted its holdings in SEI Investments by 1.2% during the fourth quarter. JLB & Associates Inc. now owns 290,218 shares of the asset manager’s stock worth $17,685,000 after buying an additional 3,498 shares in the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Analysts Set New Price Targets

SEIC has been the subject of a number of research reports. Keefe, Bruyette & Woods reduced their target price on shares of SEI Investments from $62.00 to $55.00 in a report on Thursday, July 14th. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday. Morgan Stanley decreased their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price objective on shares of SEI Investments to $58.00 in a research note on Friday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and an average price target of $60.40.

SEI Investments Stock Down 0.9 %

SEIC stock opened at $54.39 on Friday. SEI Investments has a 12-month low of $51.07 and a 12-month high of $65.22. The company has a quick ratio of 5.08, a current ratio of 5.42 and a debt-to-equity ratio of 0.02. The company has a market cap of $7.47 billion, a price-to-earnings ratio of 13.04, a PEG ratio of 1.24 and a beta of 1.03. The company has a 50 day moving average of $54.86 and a two-hundred day moving average of $57.35.

SEI Investments (NASDAQ:SEICGet Rating) last released its earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The company had revenue of $481.67 million during the quarter, compared to analysts’ expectations of $472.18 million. During the same quarter in the previous year, the company earned $0.93 EPS. The firm’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, equities analysts anticipate that SEI Investments will post 3.68 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were given a $0.40 dividend. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 10th. This represents a $1.60 dividend on an annualized basis and a yield of 2.94%. SEI Investments’s dividend payout ratio is presently 19.18%.

SEI Investments announced that its board has initiated a share repurchase program on Wednesday, June 1st that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

SEI Investments Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments (NASDAQ:SEICGet Rating).



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