Wells Fargo & Company MN decreased its stake in SEI Investments Co. (NASDAQ:SEIC) by 25.6% during the third quarter, Holdings Channel reports. The fund owned 2,760,780 shares of the company’s stock after selling 951,508 shares during the period. Wells Fargo & Company MN’s holdings in SEI Investments were worth $125,918,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in SEIC. Wright Investors Service Inc. bought a new stake in shares of SEI Investments during the second quarter valued at approximately $775,000. Columbus Circle Investors increased its stake in SEI Investments by 12.6% in the second quarter. Columbus Circle Investors now owns 224,182 shares of the company’s stock worth $10,785,000 after buying an additional 25,165 shares in the last quarter. Dividend Assets Capital LLC acquired a new stake in SEI Investments during the second quarter worth about $31,140,000. Hermes Investment Management Ltd. acquired a new stake in SEI Investments during the third quarter worth about $16,088,000. Finally, Ngam Advisors L.P. increased its stake in SEI Investments by 4.6% in the second quarter. Ngam Advisors L.P. now owns 767,137 shares of the company’s stock worth $36,907,000 after buying an additional 33,984 shares in the last quarter. 70.12% of the stock is owned by institutional investors and hedge funds.
Shares of SEI Investments Co. (NASDAQ:SEIC) opened at 50.78 on Thursday. SEI Investments Co. has a 12-month low of $32.01 and a 12-month high of $52.54. The firm has a 50-day moving average of $49.70 and a 200-day moving average of $47.14. The company has a market cap of $8.12 billion, a P/E ratio of 25.65 and a beta of 1.45.
SEI Investments (NASDAQ:SEIC) last announced its earnings results on Thursday, October 20th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.04. The company earned $354.60 million during the quarter, compared to the consensus estimate of $353.82 million. SEI Investments had a net margin of 23.87% and a return on equity of 25.02%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 earnings per share. Analysts predict that SEI Investments Co. will post $1.98 EPS for the current year.
The company also recently announced a semiannual dividend, which was paid on Friday, January 6th. Stockholders of record on Tuesday, December 27th were issued a $0.28 dividend. The ex-dividend date was Thursday, December 22nd. This represents a dividend yield of 1.14%. This is an increase from SEI Investments’s previous semiannual dividend of $0.26. SEI Investments’s dividend payout ratio is currently 28.43%.
Separately, Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Tuesday, January 10th.
In related news, major shareholder Alfred P. West, Jr. sold 4,760 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $44.51, for a total transaction of $211,867.60. Following the completion of the sale, the insider now owns 1,372,282 shares in the company, valued at $61,080,271.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Alfred P. West, Jr. sold 64,822 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $44.48, for a total transaction of $2,883,282.56. Following the sale, the insider now owns 11,427,042 shares of the company’s stock, valued at approximately $508,274,828.16. The disclosure for this sale can be found here. 17.10% of the stock is currently owned by insiders.
SEI Investments Company Profile
SEI Investments Company (SEI) is a provider of investment processing, investment management and investment operations solutions. The Company enables corporations, financial institutions, financial advisors and ultra-high-net-worth families to create and manage wealth by providing investment and investment-business solutions.
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