Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SEI Investments (NASDAQ:SEIC) by 7.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 456,382 shares of the asset manager’s stock after purchasing an additional 32,139 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in SEI Investments were worth $28,533,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in SEIC. AGF Investments Inc. bought a new position in shares of SEI Investments in the 1st quarter worth about $38,172,000. Millennium Management LLC bought a new position in shares of SEI Investments in the 1st quarter worth about $29,699,000. Natixis raised its position in shares of SEI Investments by 5,554.5% in the 1st quarter. Natixis now owns 285,550 shares of the asset manager’s stock worth $21,391,000 after acquiring an additional 280,500 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of SEI Investments in the 1st quarter worth about $14,536,000. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of SEI Investments by 280.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 235,169 shares of the asset manager’s stock worth $17,617,000 after acquiring an additional 173,357 shares in the last quarter. 69.22% of the stock is owned by institutional investors and hedge funds.
Shares of SEIC opened at $59.31 on Monday. The stock has a market capitalization of $9.33 billion, a PE ratio of 25.56, a PEG ratio of 1.58 and a beta of 1.15. SEI Investments has a one year low of $55.37 and a one year high of $78.35.
SEI Investments announced that its Board of Directors has approved a stock buyback plan on Wednesday, May 30th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 1.9% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several research firms have recently weighed in on SEIC. BidaskClub lowered SEI Investments from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 4th. Mizuho reissued a “buy” rating and issued a $85.00 price objective on shares of SEI Investments in a research report on Friday, July 20th. Finally, Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $75.00.
In other news, EVP Kevin Barr sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, August 1st. The stock was sold at an average price of $59.14, for a total value of $1,478,500.00. Following the completion of the sale, the executive vice president now directly owns 69,134 shares in the company, valued at approximately $4,088,584.76. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Joseph P. Ujobai sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $66.52, for a total value of $1,330,400.00. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.
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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