Meeder Asset Management Inc. increased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 456.0% in the 4th quarter, Holdings Channel reports. The firm owned 13,656 shares of the asset manager’s stock after acquiring an additional 11,200 shares during the quarter. Meeder Asset Management Inc.’s holdings in SEI Investments were worth $982,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Prudential Financial Inc. lifted its stake in SEI Investments by 88.3% during the third quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock worth $31,123,000 after purchasing an additional 239,000 shares during the last quarter. Atlantic Trust Group LLC lifted its stake in SEI Investments by 2.5% during the third quarter. Atlantic Trust Group LLC now owns 70,010 shares of the asset manager’s stock worth $4,275,000 after purchasing an additional 1,715 shares during the last quarter. American Capital Management Inc. lifted its stake in SEI Investments by 0.5% in the third quarter. American Capital Management Inc. now owns 849,780 shares of the asset manager’s stock valued at $51,888,000 after buying an additional 4,620 shares during the last quarter. Shell Asset Management Co. lifted its stake in SEI Investments by 238.1% in the third quarter. Shell Asset Management Co. now owns 22,578 shares of the asset manager’s stock valued at $816,000 after buying an additional 15,900 shares during the last quarter. Finally, BP PLC purchased a new stake in SEI Investments in the third quarter valued at approximately $977,000. Hedge funds and other institutional investors own 70.26% of the company’s stock.
In other news, insider N Jeffrey Klauder sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $68.39, for a total transaction of $1,367,800.00. Following the completion of the sale, the insider now owns 62,194 shares in the company, valued at $4,253,447.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah Blumenstein sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $65.33, for a total value of $326,650.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,750 shares of company stock valued at $4,049,300. 16.50% of the stock is owned by company insiders.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, January 31st. The asset manager reported $0.75 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.15. SEI Investments had a return on equity of 26.74% and a net margin of 26.49%. The company had revenue of $408.22 million during the quarter, compared to analysts’ expectations of $397.96 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. equities research analysts expect that SEI Investments will post 3.24 EPS for the current year.
SEI Investments announced that its board has approved a stock buyback program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
A number of brokerages have weighed in on SEIC. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Oppenheimer reiterated a “buy” rating and issued a $80.00 price objective on shares of SEI Investments in a research note on Thursday, February 1st. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating and set a $84.00 price objective for the company in a research note on Friday, January 5th. Finally, Mizuho reiterated a “buy” rating and issued a $72.00 price objective on shares of SEI Investments in a research note on Friday, November 17th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. SEI Investments presently has an average rating of “Buy” and a consensus price target of $73.50.
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About SEI Investments
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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