Arizona State Retirement System Acquires 346 Shares of SEI Investments (NASDAQ:SEIC)

Arizona State Retirement System boosted its holdings in shares of SEI Investments (NASDAQ:SEICGet Rating) by 1.1% during the 1st quarter, Holdings Channel.com reports. The fund owned 32,995 shares of the asset manager’s stock after purchasing an additional 346 shares during the period. Arizona State Retirement System’s holdings in SEI Investments were worth $1,987,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEIC. FDx Advisors Inc. grew its holdings in SEI Investments by 12.3% during the first quarter. FDx Advisors Inc. now owns 19,392 shares of the asset manager’s stock valued at $1,168,000 after purchasing an additional 2,117 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in SEI Investments by 1.2% during the first quarter. Mutual of America Capital Management LLC now owns 95,948 shares of the asset manager’s stock valued at $5,777,000 after purchasing an additional 1,148 shares during the last quarter. Signaturefd LLC grew its holdings in SEI Investments by 150.6% during the first quarter. Signaturefd LLC now owns 2,133 shares of the asset manager’s stock valued at $128,000 after purchasing an additional 1,282 shares during the last quarter. Markel Corp grew its holdings in SEI Investments by 3.2% during the first quarter. Markel Corp now owns 445,200 shares of the asset manager’s stock valued at $26,805,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Gries Financial LLC acquired a new position in SEI Investments during the first quarter valued at approximately $1,710,000. Institutional investors own 70.44% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. William Blair restated a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. The Goldman Sachs Group lowered their price objective on shares of SEI Investments to $58.00 in a research note on Friday, July 22nd. StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Finally, Morgan Stanley lowered their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, July 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $60.50.

SEI Investments Stock Up 1.7 %

Shares of SEIC stock opened at $55.36 on Monday. The stock has a market cap of $7.50 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. SEI Investments has a one year low of $51.07 and a one year high of $65.22. The stock has a fifty day moving average price of $54.76 and a 200 day moving average price of $57.03. The company has a debt-to-equity ratio of 0.02, a current ratio of 5.42 and a quick ratio of 5.30.

SEI Investments (NASDAQ:SEICGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The company had revenue of $481.67 million for the quarter, compared to the consensus estimate of $472.18 million. SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. Analysts predict that SEI Investments will post 3.68 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, June 10th. This is a boost from SEI Investments’s previous quarterly dividend of $0.37. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.89%. SEI Investments’s dividend payout ratio (DPR) is presently 19.18%.

SEI Investments declared that its Board of Directors has initiated a share buyback plan on Wednesday, June 1st that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

SEI Investments Company Profile

(Get Rating)

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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