Wells Fargo & Company MN Trims Position in SEI Investments (SEIC)

Wells Fargo & Company MN lessened its position in shares of SEI Investments (NASDAQ:SEIC) by 12.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 146,872 shares of the asset manager’s stock after selling 20,383 shares during the quarter. Wells Fargo & Company MN’s holdings in SEI Investments were worth $11,002,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Icon Wealth Partners LLC bought a new stake in SEI Investments during the fourth quarter valued at about $121,000. Woodard & Co. Asset Management Group Inc. ADV bought a new stake in SEI Investments during the fourth quarter valued at about $122,000. Two Sigma Securities LLC bought a new stake in SEI Investments during the fourth quarter valued at about $212,000. Sawtooth Solutions LLC bought a new stake in SEI Investments during the fourth quarter valued at about $228,000. Finally, ING Groep NV bought a new stake in SEI Investments during the fourth quarter valued at about $267,000. Institutional investors own 70.01% of the company’s stock.

In related news, EVP Stephen Meyer sold 4,524 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $77.59, for a total transaction of $351,017.16. Following the completion of the transaction, the executive vice president now directly owns 97,748 shares of the company’s stock, valued at $7,584,267.32. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Joseph P. Ujobai sold 20,000 shares of the stock in a transaction that occurred on 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. 17.30% of the stock is currently owned by corporate insiders.

Several analysts have issued reports on SEIC shares. BidaskClub raised SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 3rd. Zacks Investment Research lowered SEI Investments from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Sandler O’Neill set a $81.00 price objective on SEI Investments and gave the stock a “buy” rating in a research note on Tuesday, April 10th. Finally, William Blair lowered SEI Investments from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 12th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $75.00.

NASDAQ SEIC opened at $65.93 on Monday. The stock has a market capitalization of $10.42 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.43 and a quick ratio of 6.31. SEI Investments has a twelve month low of $52.20 and a twelve month high of $78.35.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 25th. The asset manager reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. SEI Investments had a return on equity of 29.07% and a net margin of 28.97%. The firm had revenue of $405.60 million during the quarter, compared to analyst estimates of $408.10 million. During the same quarter in the prior year, the company posted $0.55 earnings per share. The business’s quarterly revenue was up 12.7% compared to the same quarter last year. equities research analysts predict that SEI Investments will post 3.13 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a share repurchase plan on Wednesday, May 30th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 1.9% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.

The company also recently declared a semiannual dividend, which will be paid on Friday, June 22nd. Investors of record on Thursday, June 14th will be paid a dividend of $0.30 per share. This represents a yield of 0.94%. The ex-dividend date is Wednesday, June 13th. SEI Investments’s payout ratio is presently 25.86%.

SEI Investments 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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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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