Arrowstreet Capital Limited Partnership Boosts Stake in SEI Investments Company $SEIC

Arrowstreet Capital Limited Partnership grew its holdings in SEI Investments Company (NASDAQ:SEIC) by 33.9% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 366,742 shares of the asset manager’s stock after buying an additional 92,763 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in SEI Investments were worth $32,955,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC raised its holdings in SEI Investments by 117.6% in the 2nd quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock valued at $41,000 after buying an additional 247 shares during the period. Geneos Wealth Management Inc. boosted its stake in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares during the period. Harbor Capital Advisors Inc. acquired a new stake in shares of SEI Investments during the second quarter valued at about $45,000. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of SEI Investments by 252.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 363 shares during the last quarter. Finally, Employees Retirement System of Texas purchased a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $81,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of SEIC opened at $81.10 on Friday. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The stock has a market capitalization of $9.93 billion, a PE ratio of 14.91 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. The stock has a 50-day simple moving average of $81.89 and a 200-day simple moving average of $85.72.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The firm had revenue of $578.51 million for the quarter, compared to analysts’ expectations of $578.75 million. During the same quarter last year, the company earned $1.19 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, analysts predict that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a stock buyback program on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

SEIC has been the subject of several research reports. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Morgan Stanley lifted their price objective on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Raymond James Financial boosted their price objective on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Finally, Keefe, Bruyette & Woods lowered their target price on SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a report on Monday, October 13th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.40.

Insider Activity

In other news, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the transaction, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. This represents a 38.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. This trade represents a 0.36% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 44,770 shares of company stock worth $3,723,850. 14.60% of the stock is currently owned by corporate insiders.

SEI Investments Company 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.