Whittier Trust Co. reduced its position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 39.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 620 shares of the asset manager’s stock after selling 404 shares during the quarter. Whittier Trust Co.’s holdings in SEI Investments were worth $37,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Gries Financial LLC acquired a new stake in shares of SEI Investments during the first quarter valued at about $1,710,000. AustralianSuper Pty Ltd increased its position in shares of SEI Investments by 45.1% during the first quarter. AustralianSuper Pty Ltd now owns 250,324 shares of the asset manager’s stock valued at $15,072,000 after acquiring an additional 77,751 shares during the last quarter. FCF Advisors LLC increased its position in shares of SEI Investments by 2.7% during the first quarter. FCF Advisors LLC now owns 17,400 shares of the asset manager’s stock valued at $1,048,000 after acquiring an additional 453 shares during the last quarter. Parallel Advisors LLC increased its position in shares of SEI Investments by 405.1% during the first quarter. Parallel Advisors LLC now owns 9,597 shares of the asset manager’s stock valued at $588,000 after acquiring an additional 7,697 shares during the last quarter. Finally, TownSquare Capital LLC increased its position in shares of SEI Investments by 21.9% during the first quarter. TownSquare Capital LLC now owns 7,066 shares of the asset manager’s stock valued at $425,000 after acquiring an additional 1,271 shares during the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts have weighed in on the stock. StockNews.com cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday. Morgan Stanley dropped their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday. The Goldman Sachs Group dropped their price objective on shares of SEI Investments to $58.00 in a report on Friday. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of SEI Investments from $62.00 to $55.00 in a report on Thursday, July 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and an average target price of $60.40.
SEI Investments Stock Down 0.9 %
Shares of SEI Investments stock opened at $54.39 on Friday. SEI Investments has a 52-week low of $51.07 and a 52-week high of $65.22. The company has a 50 day moving average of $54.86 and a 200 day moving average of $57.35. 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 capitalization of $7.47 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.24 and a beta of 1.03.
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its quarterly 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 firm had revenue of $481.67 million during the quarter, compared to analysts’ expectations of $472.18 million. During the same quarter in the prior year, the firm earned $0.93 EPS. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, research analysts forecast that SEI Investments will post 3.68 EPS for the current fiscal year.
SEI Investments Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Monday, June 13th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.94%. The ex-dividend date was Friday, June 10th. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. SEI Investments’s payout ratio is currently 19.18%.
SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 1st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
About SEI Investments
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.
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