Millennium Management LLC Purchases New Stake in SEI Investments (SEIC)

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Millennium Management LLC purchased a new position in shares of SEI Investments (NASDAQ:SEIC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 396,459 shares of the asset manager’s stock, valued at approximately $29,699,000.

A number of other large investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in SEI Investments by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 1,352,174 shares of the asset manager’s stock worth $97,117,000 after acquiring an additional 35,184 shares during the period. Schwab Charles Investment Management Inc. increased its position in SEI Investments by 13.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 628,055 shares of the asset manager’s stock worth $47,048,000 after acquiring an additional 73,474 shares during the period. Principal Financial Group Inc. increased its position in SEI Investments by 3.6% during the first quarter. Principal Financial Group Inc. now owns 574,989 shares of the asset manager’s stock worth $43,072,000 after acquiring an additional 19,933 shares during the period. King Luther Capital Management Corp increased its position in SEI Investments by 19.6% during the first quarter. King Luther Capital Management Corp now owns 541,407 shares of the asset manager’s stock worth $40,557,000 after acquiring an additional 88,695 shares during the period. Finally, JPMorgan Chase & Co. increased its position in SEI Investments by 13.8% during the first quarter. JPMorgan Chase & Co. now owns 531,461 shares of the asset manager’s stock worth $39,810,000 after acquiring an additional 64,353 shares during the period. 70.02% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments opened at $62.83 on Thursday, MarketBeat Ratings reports. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.31 and a current ratio of 6.43. SEI Investments has a 12 month low of $52.20 and a 12 month high of $78.35. The stock has a market capitalization of $10.13 billion, a price-to-earnings ratio of 27.08, a PEG ratio of 1.71 and a beta of 1.27.

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

SEI Investments declared that its board has approved a stock repurchase plan on Wednesday, May 30th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 1.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

The company also recently announced a semiannual dividend, which was paid on Friday, June 22nd. Shareholders of record on Thursday, June 14th were issued a $0.30 dividend. This represents a yield of 0.94%. The ex-dividend date was Wednesday, June 13th. SEI Investments’s dividend payout ratio is currently 25.86%.

In other SEI Investments news, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 17.30% of the stock is owned by company insiders.

SEIC has been the topic of a number of recent research reports. Zacks Investment Research lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a research report on Tuesday, April 3rd. Sandler O’Neill set a $81.00 price target on shares of SEI Investments and gave the stock a “buy” rating in a research report on Tuesday, April 10th. BidaskClub raised shares of SEI Investments from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 22nd. Finally, William Blair lowered shares of SEI Investments from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 12th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. SEI Investments presently has a consensus rating of “Hold” and an average target price of $75.00.

About SEI Investments

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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