Sciencast Management LP purchased a new position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,557 shares of the asset manager’s stock, valued at approximately $667,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of SEIC. Millennium Management LLC lifted its position in SEI Investments by 124.3% during the 3rd quarter. Millennium Management LLC now owns 773,559 shares of the asset manager’s stock worth $45,872,000 after acquiring an additional 428,630 shares during the period. Goldman Sachs Group Inc. lifted its position in SEI Investments by 27.7% during the 3rd quarter. Goldman Sachs Group Inc. now owns 628,014 shares of the asset manager’s stock worth $37,241,000 after acquiring an additional 136,343 shares during the period. Renaissance Technologies LLC lifted its position in SEI Investments by 275.4% during the 3rd quarter. Renaissance Technologies LLC now owns 176,526 shares of the asset manager’s stock worth $10,468,000 after acquiring an additional 129,500 shares during the period. Hsbc Holdings PLC lifted its position in SEI Investments by 146.4% during the 3rd quarter. Hsbc Holdings PLC now owns 198,528 shares of the asset manager’s stock worth $11,777,000 after acquiring an additional 117,969 shares during the period. Finally, Wells Fargo & Company MN lifted its position in SEI Investments by 66.0% during the 2nd quarter. Wells Fargo & Company MN now owns 288,352 shares of the asset manager’s stock worth $17,869,000 after acquiring an additional 114,634 shares during the period. 69.63% of the stock is owned by institutional investors.
Separately, Oppenheimer reduced their price objective on SEI Investments from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, January 27th.
Shares of SEI Investments stock opened at $60.09 on Friday. The company has a quick ratio of 3.87, a current ratio of 3.95 and a debt-to-equity ratio of 0.02. SEI Investments has a twelve month low of $54.03 and a twelve month high of $65.22. The business has a 50-day moving average price of $58.98 and a 200 day moving average price of $60.65. The firm has a market cap of $8.31 billion, a PE ratio of 15.73, a P/E/G ratio of 1.28 and a beta of 1.06.
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its quarterly earnings results on Wednesday, January 26th. The asset manager reported $1.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.97 by $0.06. SEI Investments had a return on equity of 29.81% and a net margin of 28.49%. The firm had revenue of $501.65 million during the quarter, compared to analyst estimates of $487.85 million. During the same quarter in the previous year, the business earned $0.86 EPS. SEI Investments’s revenue for the quarter was up 13.1% compared to the same quarter last year. On average, sell-side analysts expect that SEI Investments will post 3.86 EPS for the current year.
SEI Investments announced that its board has approved a stock buyback program on Monday, December 13th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 2.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
SEI Investments Profile (Get Rating)
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
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