BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 192.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 86,905 shares of the asset manager’s stock after purchasing an additional 57,208 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in SEI Investments were worth $4,015,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BB&T Corp increased its holdings in SEI Investments by 0.8% in the 4th quarter. BB&T Corp now owns 99,424 shares of the asset manager’s stock valued at $4,593,000 after acquiring an additional 808 shares during the last quarter. Deutsche Bank AG increased its holdings in SEI Investments by 36.4% in the 3rd quarter. Deutsche Bank AG now owns 686,500 shares of the asset manager’s stock valued at $41,940,000 after acquiring an additional 183,302 shares during the last quarter. Paloma Partners Management Co bought a new stake in SEI Investments in the 3rd quarter valued at $1,051,000. Virtu Financial LLC increased its holdings in SEI Investments by 79.1% in the 4th quarter. Virtu Financial LLC now owns 8,081 shares of the asset manager’s stock valued at $373,000 after acquiring an additional 3,569 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of SEI Investments by 24.9% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 410,144 shares of the asset manager’s stock worth $18,949,000 after buying an additional 81,789 shares during the last quarter. Institutional investors own 67.75% of the company’s stock.
In related news, major shareholder Alfred P. West, Jr. sold 116,412 shares of SEI Investments stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $53.03, for a total transaction of $6,173,328.36. Following the completion of the transaction, the insider now directly owns 9,811,713 shares of the company’s stock, valued at approximately $520,315,140.39. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Alfred P. West, Jr. sold 100,000 shares of SEI Investments stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $52.65, for a total transaction of $5,265,000.00. Following the transaction, the insider now directly owns 10,106,713 shares of the company’s stock, valued at $532,118,439.45. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 288,600 shares of company stock valued at $15,159,725. 17.30% of the stock is owned by corporate insiders.
SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 30th. The asset manager reported $0.73 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.01). SEI Investments had a return on equity of 31.48% and a net margin of 31.15%. The business had revenue of $405.05 million during the quarter, compared to the consensus estimate of $403.45 million. During the same quarter last year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, research analysts anticipate that SEI Investments will post 2.97 earnings per share for the current year.
SEI Investments declared that its board has approved a share repurchase program on Tuesday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the asset manager to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.
SEIC has been the topic of a number of research reports. Zacks Investment Research downgraded shares of SEI Investments from a “hold” rating to a “strong sell” rating in a report on Thursday, January 17th. Oppenheimer reduced their target price on shares of SEI Investments from $68.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, January 9th. TheStreet downgraded shares of SEI Investments from a “b” rating to a “c+” rating in a report on Wednesday, December 12th. BidaskClub downgraded shares of SEI Investments from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 4th. Finally, ValuEngine downgraded shares of SEI Investments from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $69.50.
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SEI Investments Profile
SEI Investments Co 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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