Principal Financial Group Inc. Has $43.07 Million Holdings in SEI Investments (SEIC)
Principal Financial Group Inc. boosted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 3.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 574,989 shares of the asset manager’s stock after acquiring an additional 19,933 shares during the period. Principal Financial Group Inc. owned 0.36% of SEI Investments worth $43,072,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. CIBC Asset Management Inc grew its holdings in SEI Investments by 11.5% during the 4th quarter. CIBC Asset Management Inc now owns 7,091 shares of the asset manager’s stock worth $510,000 after acquiring an additional 734 shares during the period. Meadow Creek Investment Management LLC grew its holdings in SEI Investments by 10.7% during the 4th quarter. Meadow Creek Investment Management LLC now owns 7,936 shares of the asset manager’s stock worth $570,000 after acquiring an additional 768 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in SEI Investments by 2.2% during the 1st quarter. Municipal Employees Retirement System of Michigan now owns 40,560 shares of the asset manager’s stock worth $3,038,000 after acquiring an additional 870 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its holdings in SEI Investments by 1.9% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 48,289 shares of the asset manager’s stock worth $3,617,000 after acquiring an additional 900 shares during the period. Finally, Profund Advisors LLC grew its holdings in SEI Investments by 6.3% during the 4th quarter. Profund Advisors LLC now owns 15,860 shares of the asset manager’s stock worth $1,140,000 after acquiring an additional 941 shares during the period. 70.04% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Stephen Meyer sold 4,524 shares of the business’s stock in a transaction on Wednesday, March 21st. The shares were sold at an average price of $77.59, for a total value of $351,017.16. Following the completion of the transaction, the executive vice president now owns 97,748 shares of the company’s stock, valued at approximately $7,584,267.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 17.30% of the stock is owned by insiders.
Shares of SEI Investments opened at $66.48 on Wednesday, MarketBeat reports. SEI Investments has a 12-month low of $52.20 and a 12-month high of $78.35. The firm has a market capitalization of $10.53 billion, a PE ratio of 28.66, a PEG ratio of 1.78 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a current ratio of 6.43 and a quick ratio of 6.31.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 25th. The asset manager reported $0.86 earnings per share (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 company had revenue of $405.60 million during the quarter, compared to analyst estimates of $408.10 million. During the same quarter in the previous year, the business earned $0.55 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. equities analysts expect that SEI Investments will post 3.13 EPS for the current fiscal year.
SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, May 30th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the asset manager to buy up to 1.9% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a semiannual dividend, which will be paid on Friday, June 22nd. Stockholders of record on Thursday, June 14th will be issued a $0.30 dividend. This represents a dividend yield of 0.94%. The ex-dividend date of this dividend is Wednesday, June 13th. SEI Investments’s dividend payout ratio (DPR) is 25.86%.
SEI Investments Company Profile
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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