TD Waterhouse Canada Inc. Raises Position in SEI Investments Company $SEIC

TD Waterhouse Canada Inc. raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 173.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,103 shares of the asset manager’s stock after acquiring an additional 21,643 shares during the period. TD Waterhouse Canada Inc.’s holdings in SEI Investments were worth $3,118,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SEIC. Dimensional Fund Advisors LP grew its holdings in shares of SEI Investments by 6.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock valued at $134,487,000 after acquiring an additional 111,065 shares in the last quarter. Boston Trust Walden Corp increased its position in shares of SEI Investments by 3.3% during the 2nd quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager’s stock valued at $123,079,000 after purchasing an additional 44,195 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of SEI Investments by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock valued at $62,186,000 after purchasing an additional 45,019 shares during the last quarter. Millennium Management LLC raised its stake in shares of SEI Investments by 339.3% during the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock worth $60,832,000 after purchasing an additional 605,252 shares during the period. Finally, Amundi boosted its holdings in shares of SEI Investments by 228.2% in the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock worth $57,472,000 after buying an additional 543,753 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Up 1.6%

Shares of NASDAQ:SEIC opened at $80.04 on Friday. The firm has a market capitalization of $9.80 billion, a PE ratio of 14.71, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The firm has a fifty day moving average of $83.05 and a 200 day moving average of $85.89.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The company had revenue of $578.51 million during the quarter, compared to the consensus estimate of $578.75 million. During the same quarter in the previous year, the company posted $1.19 EPS. SEI Investments’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a stock repurchase plan on Friday, October 24th that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the transaction, the director owned 16,042 shares in the company, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their position. The SEC filing for this sale provides additional information. 14.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SEIC. Raymond James Financial raised their price objective on shares of SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 14th. Morgan Stanley raised their price target on shares of SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Keefe, Bruyette & Woods lowered their target price on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Four analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $104.40.

SEI Investments Profile

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.