Citigroup Inc. lessened its stake in SEI Investments (NASDAQ:SEIC) by 58.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,869 shares of the asset manager’s stock after selling 39,788 shares during the quarter. Citigroup Inc.’s holdings in SEI Investments were worth $1,334,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Ruggie Capital Group purchased a new position in shares of SEI Investments in the 4th quarter valued at about $27,000. Oregon Public Employees Retirement Fund increased its stake in shares of SEI Investments by 4,406.2% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,250,355 shares of the asset manager’s stock valued at $70,000 after purchasing an additional 3,178,224 shares in the last quarter. ETF Managers Group LLC increased its stake in shares of SEI Investments by 15.7% in the 4th quarter. ETF Managers Group LLC now owns 1,722 shares of the asset manager’s stock valued at $80,000 after purchasing an additional 234 shares in the last quarter. Sterling Investment Advisors Ltd. purchased a new position in shares of SEI Investments in the 3rd quarter valued at about $100,000. Finally, Daiwa SB Investments Ltd. purchased a new position in shares of SEI Investments in the 4th quarter valued at about $170,000. 67.75% of the stock is owned by institutional investors and hedge funds.
In other SEI Investments news, major shareholder Alfred P. West, Jr. sold 116,412 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $53.03, for a total transaction of $6,173,328.36. Following the completion of the sale, the insider now directly owns 9,811,713 shares in the company, valued at approximately $520,315,140.39. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Wayne Withrow sold 4,997 shares of the business’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $47.50, for a total value of $237,357.50. Following the sale, the executive vice president now owns 36,711 shares of the company’s stock, valued at $1,743,772.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,600 shares of company stock valued at $15,159,725. 17.30% of the stock is owned by company insiders.
NASDAQ:SEIC opened at $52.39 on Friday. SEI Investments has a 12 month low of $42.27 and a 12 month high of $78.35. The company has a market cap of $8.05 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.43 and a beta of 1.25.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 30th. The asset manager reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.01). SEI Investments had a return on equity of 31.48% and a net margin of 31.15%. The firm had revenue of $405.05 million for the quarter, compared to analysts’ expectations of $403.45 million. During the same quarter last year, the firm posted $0.75 earnings per share. SEI Investments’s quarterly revenue was down .8% on a year-over-year basis. As a group, equities analysts anticipate that SEI Investments will post 2.97 earnings per share for the current year.
SEI Investments announced that its board has approved a stock buyback program on Tuesday, December 11th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
SEIC has been the subject of several recent analyst reports. Zacks Investment Research lowered SEI Investments from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. TheStreet lowered SEI Investments from a “b” rating to a “c+” rating in a research note on Wednesday, December 12th. BidaskClub lowered SEI Investments from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 4th. Oppenheimer cut their price target on SEI Investments from $68.00 to $60.00 and set an “outperform” rating for the company in a research note on Wednesday, January 9th. Finally, ValuEngine lowered SEI Investments from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $69.50.
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SEI Investments Company 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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