Russell Investments Group Ltd. cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 20.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,163 shares of the asset manager’s stock after selling 9,026 shares during the period. Russell Investments Group Ltd.’s holdings in SEI Investments were worth $2,025,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC grew its stake in SEI Investments by 19.1% in the fourth quarter. Geode Capital Management LLC now owns 1,770,128 shares of the asset manager’s stock valued at $81,741,000 after acquiring an additional 283,678 shares during the period. Dimensional Fund Advisors LP grew its stake in SEI Investments by 67.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 866,478 shares of the asset manager’s stock valued at $40,030,000 after acquiring an additional 349,016 shares during the period. American Capital Management Inc. grew its stake in SEI Investments by 0.3% in the first quarter. American Capital Management Inc. now owns 736,468 shares of the asset manager’s stock valued at $38,480,000 after acquiring an additional 1,850 shares during the period. FIL Ltd acquired a new position in SEI Investments in the first quarter valued at about $30,695,000. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its stake in SEI Investments by 8.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 535,703 shares of the asset manager’s stock valued at $30,053,000 after acquiring an additional 40,133 shares during the period. 69.24% of the stock is owned by institutional investors and hedge funds.
In related news, Director William Doran sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $61.00, for a total transaction of $305,000.00. Following the sale, the director now owns 671,915 shares in the company, valued at $40,986,815. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn Mccarthy sold 9,500 shares of the company’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $60.90, for a total value of $578,550.00. Following the sale, the director now owns 75,200 shares in the company, valued at approximately $4,579,680. The disclosure for this sale can be found here. Insiders have sold 39,222 shares of company stock worth $2,322,423 in the last quarter. 22.60% of the stock is currently owned by corporate insiders.
SEIC has been the subject of a number of research analyst reports. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 target price for the company. in a research note on Tuesday, June 11th. BidaskClub upgraded SEI Investments from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 12th. Finally, ValuEngine upgraded SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, June 11th. Five investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $61.50.
Shares of SEI Investments stock traded up $0.22 during trading on Thursday, reaching $60.46. The stock had a trading volume of 9,875 shares, compared to its average volume of 320,703. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 1.57 and a beta of 1.32. The stock has a fifty day moving average price of $57.79 and a two-hundred day moving average price of $55.04. SEI Investments has a 52 week low of $42.27 and a 52 week high of $63.44. The company has a current ratio of 5.78, a quick ratio of 5.61 and a debt-to-equity ratio of 0.02.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.03. SEI Investments had a return on equity of 29.86% and a net margin of 29.85%. The business had revenue of $409.60 million for the quarter, compared to analyst estimates of $412.28 million. During the same quarter in the prior year, the company posted $0.75 earnings per share. SEI Investments’s revenue was up 1.2% on a year-over-year basis. On average, equities analysts forecast that SEI Investments will post 3.22 EPS for the current fiscal year.
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.
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