RK Asset Management LLC cut its position in shares of SEI Investments (NASDAQ:SEIC) by 2.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,209 shares of the asset manager’s stock after selling 970 shares during the quarter. SEI Investments accounts for about 2.8% of RK Asset Management LLC’s investment portfolio, making the stock its 15th largest holding. RK Asset Management LLC’s holdings in SEI Investments were worth $2,857,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SEIC. Envestnet Asset Management Inc. lifted its stake in SEI Investments by 26.0% in the first quarter. Envestnet Asset Management Inc. now owns 93,163 shares of the asset manager’s stock valued at $4,868,000 after buying an additional 19,203 shares during the last quarter. Rockefeller Capital Management L.P. lifted its stake in SEI Investments by 336.5% in the first quarter. Rockefeller Capital Management L.P. now owns 1,724 shares of the asset manager’s stock valued at $90,000 after buying an additional 1,329 shares during the last quarter. Citigroup Inc. increased its holdings in shares of SEI Investments by 9.7% during the first quarter. Citigroup Inc. now owns 31,661 shares of the asset manager’s stock valued at $1,654,000 after purchasing an additional 2,792 shares during the period. Tyers Asset Management LLC increased its holdings in shares of SEI Investments by 20.2% during the first quarter. Tyers Asset Management LLC now owns 19,824 shares of the asset manager’s stock valued at $1,036,000 after purchasing an additional 3,332 shares during the period. Finally, Westwood Holdings Group Inc. increased its holdings in shares of SEI Investments by 211.2% during the first quarter. Westwood Holdings Group Inc. now owns 39,771 shares of the asset manager’s stock valued at $2,078,000 after purchasing an additional 26,992 shares during the period. Hedge funds and other institutional investors own 69.24% of the company’s stock.
In other SEI Investments news, Director Sarah Blumenstein sold 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $58.25, for a total transaction of $291,250.00. Following the completion of the sale, the director now directly owns 10,681 shares in the company, valued at approximately $622,168.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn Mccarthy sold 9,500 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $60.90, for a total value of $578,550.00. Following the sale, the director now owns 75,200 shares of the company’s stock, valued at $4,579,680. The disclosure for this sale can be found here. Insiders have sold a total of 39,222 shares of company stock valued at $2,322,423 over the last 90 days. Corporate insiders own 22.60% of the company’s stock.
A number of brokerages have recently commented on SEIC. BidaskClub lowered SEI Investments from a “strong-buy” rating to a “buy” rating in a report on Tuesday, September 24th. ValuEngine lowered SEI Investments from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $61.50.
SEIC traded up $1.37 during trading on Friday, reaching $59.93. The company had a trading volume of 87,015 shares, compared to its average volume of 495,356. SEI Investments has a 12-month low of $42.27 and a 12-month high of $61.35. The company has a market cap of $8.68 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.49 and a beta of 1.31. The company has a debt-to-equity ratio of 0.02, a quick ratio of 5.61 and a current ratio of 5.78. The firm’s 50-day simple moving average is $58.27 and its 200 day simple moving average is $55.80.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.82 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.03. SEI Investments had a return on equity of 29.86% and a net margin of 29.85%. The firm had revenue of $409.60 million during the quarter, compared to analyst estimates of $412.28 million. During the same period last year, the company posted $0.75 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts expect that SEI Investments will post 3.22 EPS for the current year.
About SEI Investments
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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