Penserra Capital Management LLC Has $647,000 Holdings in SEI Investments (SEIC)
Penserra Capital Management LLC grew its stake in SEI Investments (NASDAQ:SEIC) by 26.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,015 shares of the asset manager’s stock after buying an additional 1,877 shares during the period. Penserra Capital Management LLC’s holdings in SEI Investments were worth $647,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Invictus RG purchased a new stake in shares of SEI Investments during the third quarter worth about $111,000. Meeder Asset Management Inc. grew its position in shares of SEI Investments by 7,575.0% during the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after purchasing an additional 2,424 shares in the last quarter. Gradient Investments LLC purchased a new stake in shares of SEI Investments during the fourth quarter worth about $207,000. BLB&B Advisors LLC purchased a new stake in shares of SEI Investments during the fourth quarter worth about $208,000. Finally, Stewart & Patten Co. LLC purchased a new stake in shares of SEI Investments during the fourth quarter worth about $230,000. Institutional investors and hedge funds own 70.03% of the company’s stock.
SEIC has been the subject of several research analyst reports. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a research report on Monday, October 30th. Mizuho reiterated a “buy” rating and set a $65.00 target price on shares of SEI Investments in a research report on Friday, October 20th. BidaskClub cut SEI Investments from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer reiterated a “buy” rating and set a $80.00 target price on shares of SEI Investments in a research report on Thursday, February 1st. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $73.50.
SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 31st. The asset manager reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.15. SEI Investments had a return on equity of 26.74% and a net margin of 26.49%. The firm had revenue of $408.22 million during the quarter, compared to analysts’ expectations of $397.96 million. During the same quarter last year, the business posted $0.55 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. analysts forecast that SEI Investments will post 3.24 EPS for the current fiscal year.
SEI Investments declared that its board has authorized a stock repurchase plan on Wednesday, October 25th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
In other SEI Investments news, insider Wayne Withrow sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total transaction of $703,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Paul Klauder sold 8,750 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $69.36, for a total value of $606,900.00. Following the transaction, the executive vice president now owns 22,879 shares of the company’s stock, valued at approximately $1,586,887.44. The disclosure for this sale can be found here. Insiders have sold a total of 53,750 shares of company stock valued at $3,722,650 in the last 90 days. 16.50% of the stock is currently owned by company insiders.
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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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