Toronto Dominion Bank boosted its stake in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 9.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 107,552 shares of the asset manager’s stock after acquiring an additional 9,045 shares during the period. Toronto Dominion Bank owned about 0.08% of SEI Investments worth $6,477,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in SEIC. Hazlett Burt & Watson Inc. acquired a new position in SEI Investments during the first quarter worth $36,000. Artemis Wealth Advisors LLC purchased a new stake in shares of SEI Investments during the first quarter worth $40,000. Quadrant Capital Group LLC grew its holdings in shares of SEI Investments by 104.6% during the first quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager’s stock worth $51,000 after buying an additional 431 shares in the last quarter. UMB Bank N A MO purchased a new stake in shares of SEI Investments during the fourth quarter worth $52,000. Finally, Lazard Asset Management LLC grew its holdings in shares of SEI Investments by 114.4% during the fourth quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager’s stock worth $53,000 after buying an additional 469 shares in the last quarter. 70.44% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently issued reports on SEIC. StockNews.com lowered shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Keefe, Bruyette & Woods dropped their target price on shares of SEI Investments from $62.00 to $55.00 in a report on Thursday, July 14th. The Goldman Sachs Group dropped their target price on shares of SEI Investments to $58.00 in a report on Friday, July 22nd. Morgan Stanley dropped their target price on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a report on Thursday, July 21st. Finally, William Blair reissued a “mkt perform” rating on shares of SEI Investments in a report on Monday, July 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.50.
Insiders Place Their Bets
In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the completion of the transaction, the insider now owns 576,663 shares of the company’s stock, valued at $31,802,964.45. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Wayne Withrow sold 15,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $55.78, for a total transaction of $836,700.00. Following the sale, the executive vice president now owns 38,799 shares of the company’s stock, valued at $2,164,208.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the sale, the insider now directly owns 576,663 shares in the company, valued at approximately $31,802,964.45. The disclosure for this sale can be found here. 25.40% of the stock is currently owned by insiders.
SEI Investments Trading Up 1.8 %
Shares of SEIC opened at $58.11 on Monday. SEI Investments has a 12-month low of $51.07 and a 12-month high of $65.22. The firm has a 50-day moving average price of $54.50 and a 200 day moving average price of $56.76. The firm has a market capitalization of $7.87 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.31 and a beta of 0.99.
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). The company had revenue of $481.67 million for the quarter, compared to analysts’ expectations of $472.18 million. SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the business earned $0.93 EPS. Equities research analysts predict that SEI Investments will post 3.71 earnings per share for the current fiscal year.
SEI Investments Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Friday, June 10th. This is a positive change from SEI Investments’s previous quarterly dividend of $0.37. SEI Investments’s dividend payout ratio (DPR) is 19.18%.
SEI Investments announced that its Board of Directors has initiated a stock buyback program on Wednesday, June 1st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 2.5% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.
SEI Investments Company Profile
SEI Investments Company 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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