iSAM Funds UK Ltd Takes Position in SEI Investments Company $SEIC

iSAM Funds UK Ltd purchased a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 20,072 shares of the asset manager’s stock, valued at approximately $1,804,000.

Other institutional investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust acquired a new stake in SEI Investments during the 2nd quarter worth approximately $34,000. Addison Advisors LLC raised its stake in shares of SEI Investments by 117.6% during the second quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock worth $41,000 after purchasing an additional 247 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the period. Harbor Capital Advisors Inc. purchased a new position in SEI Investments in the 2nd quarter valued at $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its position in SEI Investments by 252.1% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock valued at $46,000 after buying an additional 363 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $80.90 on Tuesday. The firm has a market capitalization of $9.91 billion, a price-to-earnings ratio of 14.87 and a beta of 0.98. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The business’s 50 day simple moving average is $81.80 and its 200-day simple moving average is $85.70. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96.

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

SEI Investments declared that its board has authorized a stock repurchase program on Friday, October 24th that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the sale, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the transaction, the director owned 16,042 shares of the company’s stock, valued at approximately $1,386,189.22. The trade was a 38.40% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 44,770 shares of company stock valued at $3,723,850. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SEIC shares. Keefe, Bruyette & Woods cut their price objective on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating for the company in a research report on Monday, October 13th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report 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. Morgan Stanley increased their target price on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Finally, Raymond James Financial lifted their price target on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus 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.