King Luther Capital Management Corp Purchases 114,200 Shares of SEI Investments Company (SEIC)
King Luther Capital Management Corp increased its position in SEI Investments Company (NASDAQ:SEIC) by 39.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 402,697 shares of the asset manager’s stock after buying an additional 114,200 shares during the quarter. King Luther Capital Management Corp owned 0.26% of SEI Investments worth $24,589,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently added to or reduced their stakes in SEIC. BlackRock Inc. increased its stake in shares of SEI Investments by 5.5% in the second quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock valued at $723,225,000 after buying an additional 697,125 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in SEI Investments by 47.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock valued at $102,598,000 after acquiring an additional 615,539 shares during the last quarter. Vanguard Group Inc. boosted its holdings in SEI Investments by 2.8% in the second quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock valued at $713,155,000 after acquiring an additional 357,187 shares during the last quarter. Frontier Capital Management Co. LLC boosted its holdings in SEI Investments by 51.2% in the third quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock valued at $59,130,000 after acquiring an additional 328,037 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in SEI Investments by 88.3% in the third quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock valued at $31,123,000 after acquiring an additional 239,000 shares during the last quarter. 70.55% of the stock is owned by institutional investors.
Several analysts recently commented on SEIC shares. Mizuho reiterated a “buy” rating and issued a $72.00 target price on shares of SEI Investments in a report on Friday, November 17th. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a report on Sunday, September 3rd. Finally, Oppenheimer upped their target price on SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $67.25.
In other SEI Investments news, insider Stephen Meyer sold 20,000 shares of the stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $61.51, for a total transaction of $1,230,200.00. Following the transaction, the insider now directly owns 113,224 shares in the company, valued at approximately $6,964,408.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Wayne Withrow sold 10,000 shares of the stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total value of $703,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 206,250 shares of company stock worth $13,246,650 over the last 90 days. Company insiders own 16.50% of the company’s stock.
Shares of SEI Investments Company (NASDAQ SEIC) opened at $70.08 on Wednesday. SEI Investments Company has a twelve month low of $47.73 and a twelve month high of $71.13. The company has a market capitalization of $11,051.47, a P/E ratio of 30.51, a P/E/G ratio of 2.49 and a beta of 1.40. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The firm had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. SEI Investments had a return on equity of 27.12% and a net margin of 24.94%. The company’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.53 EPS. equities analysts predict that SEI Investments Company will post 2.35 EPS for the current fiscal year.
SEI Investments declared that its board has initiated a share repurchase program on Wednesday, October 25th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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SEI Investments Profile
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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