SEI Investments (NASDAQ:SEIC) shares purchased by Toronto-Dominion Bank
The Toronto-Dominion Bank increased its stake in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 9.2% in the first quarter, according to its most recent SEC filing. The company held 107,552 shares of the asset manager after acquiring an additional 9,045 shares during the period. The Toronto Dominion Bank held approximately 0.08% of SEI Investments worth $6,477,000 at the end of the most recent quarter.
A number of other large investors have also recently increased 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 equity stake from SEI Investments during the first quarter for $40,000. Quadrant Capital Group LLC increased its holdings of SEI Investments shares by 104.6% in the first quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager worth $51,000 after buying 431 additional shares in the last quarter. UMB Bank NA MO bought a new stake in shares of SEI Investments during the fourth quarter at a value of $52,000. Finally, Lazard Asset Management LLC increased its holdings of SEI Investments shares by 114.4% during the fourth quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager worth $53,000 after buying an additional 469 shares last quarter. 70.44% of the shares are currently held by institutional investors and hedge funds.
A Wall Street analyst gives his opinion
A number of research firms have recently published reports on SEIC. StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a Friday, July 22 report. Keefe, Bruyette & Woods lowered their target price on SEI Investments shares from $62.00 to $55.00 in a Thursday, July 14 report. Goldman Sachs Group lowered its target price on SEI Investments shares to $58.00 in a Friday, July 22 report. Morgan Stanley lowered its price target on SEI Investments shares from $55.00 to $52.00 and set an “underweight” rating for the company in a Thursday, July 21 report. Finally, William Blair reissued a “mkt perform” rating on SEI Investments shares in a Monday, July 25 report. One research analyst has assigned the stock a sell rating, three have issued a hold rating and two have assigned the company’s stock a buy rating. 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 news from SEI Investments, insider Dennis McGonigle sold 35,000 shares in a trade dated Friday, July 29. 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, 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, Executive Vice President Wayne Withrow sold 15,000 shares in a trade dated Tuesday, August 9. 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, valued at $2,164,208.22. The sale was disclosed in a filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, insider Dennis McGonigle sold 35,000 shares in a trade dated Friday, July 29. 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 of the company, valued at approximately $31,802,964.45. The disclosure of this sale can be found here. 25.40% of the shares are currently held by insiders.
SEI investments up 1.8%
SEIC shares 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 company has a 50-day moving average price of $54.50 and a 200-day moving average price of $56.76. The company 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 results on Wednesday, July 20. The asset manager reported earnings per share of $0.81 for the quarter, missing the consensus estimate of $0.83 per ($0.02). The company posted revenue of $481.67 million for the quarter, compared to $472.18 million expected by analysts. SEI Investments achieved a return on equity of 30.81% and a net margin of 28.53%. The company’s quarterly revenue increased 1.3% from the same quarter last year. During the same period last year, the company achieved EPS of $0.93. Equity research analysts expect SEI Investments to post earnings per share of 3.71 for the current fiscal year.
SEI Investments increases its dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 22. Shareholders of record on Monday, June 13 received a dividend of $0.40 per share. This represents an annualized dividend of $1.60 and a yield of 2.75%. The ex-dividend date was Friday, June 10. This is a positive change from SEI Investments’ previous quarterly dividend of $0.37. SEI Investments’ dividend payout ratio (DPR) is 19.18%.
SEI Investments announced that its Board of Directors launched a share buyback program on Wednesday, June 1 that allows the company to repurchase $200.00 million of outstanding shares. This redemption authorization allows the asset manager to acquire up to 2.5% of its shares through purchases on the open market. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.
Company Profile SEI Investments
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SEI Investments Company is a public asset management holding company. Through its subsidiaries, the Company provides its clients with wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions , financial services and investment advice.
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