IFM Investors Pty Ltd increased its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 40.0% in the first quarter, according to the company in its latest Form 13F filing with the Securities & Exchange Commission. The company held 19,795 shares of the asset manager after purchasing an additional 5,652 shares during the quarter. IFM Investors Pty Ltd’s holdings in SEI Investments were worth $1,192,000 when it was last filed with the SEC.
A number of other hedge funds have also recently changed their positions in SEIC. Trust Co. of Vermont acquired a new stake in SEI Investments in the fourth quarter worth approximately $40,000. Harbor Investment Advisory LLC bought a new position in SEI Investments during the fourth quarter worth approximately $49,000. Signaturefd LLC increased its holdings in SEI Investments by 34.4% during the fourth quarter. Signaturefd LLC now owns 851 shares of the asset manager worth $52,000 after buying 218 additional shares in the last quarter. UMB Bank NA MO bought a new position in SEI Investments during the fourth quarter worth approximately $52,000. Finally, Lazard Asset Management LLC increased its stake in SEI Investments by 114.4% during the fourth quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager worth $53,000 after buying an additional 469 shares in the last quarter. Hedge funds and other institutional investors hold 70.44% of the company’s shares.
Several equity analysts have recently weighed in on SEIC shares. Morgan Stanley cut its price target on SEI Investments from $62.00 to $58.00 and set an “equal weight” rating on the stock in a Thursday, June 2 report. Goldman Sachs Group downgraded SEI Investments from a “buy” rating to a “neutral” rating and reduced its price target for the company from $67.00 to $65.00 in a Monday, March 28 report. Finally, StockNews.com launched coverage on SEI Investments in a report on Thursday, March 31. They set a “buy” rating on the stock. Four research analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $65.00.
Shares of SEI Investments opened at $54.31 on Friday. The company’s 50-day simple moving average is $55.51 and its 200-day simple moving average is $58.14. SEI Investments has a 52-week low of $51.34 and a 52-week high of $65.22. The company has a market capitalization of $7.45 billion, a PE ratio of 12.66, a P/E/G ratio of 1.13 and a beta of 1.04. The company has a debt ratio of 0.02, a quick ratio of 5.08 and a current ratio of 5.19.
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its results on Wednesday, April 20. The asset manager reported earnings per share (EPS) of $1.36 for the quarter, meeting analyst consensus estimates of $1.36. The company posted revenue of $581.44 million for the quarter, versus analyst estimates of $560.41 million. SEI Investments achieved a return on equity of 32.49% and a net margin of 29.72%. SEI Investments’ revenues for the quarter increased by 27.6% compared to the same quarter last year. In the same quarter last year, the company achieved EPS of $0.89. As a group, equity research analysts expect SEI Investments to post EPS of 4.07 for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22. Shareholders of record on Monday, June 13 received a dividend of $0.40 per share. This is a positive change from SEI Investments’ previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 10. This represents an annualized dividend of $1.60 and a dividend yield of 2.95%. SEI Investments’ payout ratio is 18.65%.
SEI Investments said its board of directors authorized a stock buyback program on Wednesday, June 1 that allows the company to repurchase $200.00 million of outstanding stock. This redemption authorization allows the asset manager to redeem up to 2.5% of its shares through open market purchases. Stock buyback programs are usually a sign that a company’s management believes its stock is undervalued.
SEI Investment Profile (Get a rating)
SEI Investments Company is a public asset management holding company. Through its subsidiaries, the Company provides its clients with wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions , financial services and investment advice.
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