Shell Asset Management Co. Acquires 15,900 Shares of SEI Investments Company (SEIC)
Shell Asset Management Co. boosted its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 238.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,578 shares of the asset manager’s stock after acquiring an additional 15,900 shares during the period. Shell Asset Management Co.’s holdings in SEI Investments were worth $816,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. lifted its position in SEI Investments by 5.5% during the 2nd quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock valued at $723,225,000 after acquiring an additional 697,125 shares during the period. Vanguard Group Inc. lifted its position in SEI Investments by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock valued at $713,155,000 after acquiring an additional 357,187 shares during the period. State Street Corp lifted its position in SEI Investments by 0.4% during the 2nd quarter. State Street Corp now owns 5,954,992 shares of the asset manager’s stock valued at $320,254,000 after acquiring an additional 21,421 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in SEI Investments by 47.6% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock valued at $102,598,000 after acquiring an additional 615,539 shares during the period. Finally, Northern Trust Corp lifted its position in SEI Investments by 1.3% during the 2nd quarter. Northern Trust Corp now owns 1,416,259 shares of the asset manager’s stock valued at $76,167,000 after acquiring an additional 17,776 shares during the period. 68.75% of the stock is owned by institutional investors.
In related news, Director William Doran sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the completion of the transaction, the director now directly owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $55.94, for a total transaction of $2,797,000.00. Following the completion of the transaction, the insider now directly owns 10,686,282 shares of the company’s stock, valued at $597,790,615.08. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,000 shares of company stock valued at $8,406,750. Insiders own 16.50% of the company’s stock.
SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The business had revenue of $368.02 million during the quarter, compared to analyst estimates of $384.43 million. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The company’s quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share.
SEI Investments declared that its Board of Directors has approved a stock buyback plan on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
A number of research analysts recently issued reports on SEIC shares. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price target on shares of SEI Investments in a research report on Thursday, July 27th. Mizuho reissued a “buy” rating and set a $65.00 price target on shares of SEI Investments in a research report on Friday, October 20th. Oppenheimer Holdings, Inc. lifted their price target on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a research report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $65.50.
SEI Investments Profile
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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