SEI Investments Company (SEIC) Holdings Cut by Allianz Asset Management GmbH
Allianz Asset Management GmbH reduced its position in shares of SEI Investments Company (NASDAQ:SEIC) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 150,876 shares of the asset manager’s stock after selling 10,175 shares during the quarter. Allianz Asset Management GmbH owned 0.10% of SEI Investments worth $9,212,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in SEIC. BlackRock Inc. raised its stake 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 purchasing an additional 697,125 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in shares of 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 in the last quarter. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Frontier Capital Management Co. LLC grew its holdings in shares of SEI Investments by 51.2% during the 3rd quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock valued at $59,130,000 after acquiring an additional 328,037 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of SEI Investments by 88.3% during the 3rd quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock valued at $31,123,000 after acquiring an additional 239,000 shares in the last quarter. 70.55% of the stock is currently owned by institutional investors.
Several equities analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price target on shares of SEI Investments in a report on Sunday, September 3rd. Mizuho restated a “buy” rating and set a $65.00 price target on shares of SEI Investments in a report on Friday, October 20th. Oppenheimer boosted their price target on shares of SEI Investments from $60.00 to $67.00 and gave the company an “outperform” rating in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, October 3rd. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $67.25.
In related news, Director Sarah Blumenstein sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $65.33, for a total value of $326,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Wayne Withrow sold 10,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total transaction of $703,500.00. The disclosure for this sale can be found here. Insiders sold 206,250 shares of company stock valued at $13,246,650 over the last quarter. 16.50% of the stock is currently owned by corporate insiders.
SEI Investments Company (NASDAQ:SEIC) opened at $71.58 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 5.41 and a current ratio of 5.52. SEI Investments Company has a fifty-two week low of $47.88 and a fifty-two week high of $71.92. The company has a market cap of $11,128.63, a price-to-earnings ratio of 30.73, a PEG ratio of 2.51 and a beta of 1.40.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 25th. The asset manager reported $0.63 EPS for the quarter, beating the consensus estimate of $0.57 by $0.06. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The business had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. During the same period in the previous year, the company posted $0.53 EPS. SEI Investments’s revenue was up 3.8% on a year-over-year basis. sell-side analysts predict that SEI Investments Company will post 2.35 earnings per share for the current year.
The firm also recently disclosed a semiannual dividend, which will be paid on Monday, January 8th. Investors of record on Wednesday, December 27th will be issued a $0.30 dividend. The ex-dividend date is Tuesday, December 26th. This is a boost from SEI Investments’s previous semiannual dividend of $0.28. This represents a yield of 0.85%. SEI Investments’s dividend payout ratio is currently 24.35%.
SEI Investments announced that its Board of Directors has initiated a share buyback program on Wednesday, October 25th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.
COPYRIGHT VIOLATION NOTICE: “SEI Investments Company (SEIC) Holdings Cut by Allianz Asset Management GmbH” was first reported by Daily Political and is the property of of Daily Political. If you are reading this piece on another website, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The correct version of this piece can be read at https://www.dailypolitical.com/2017/12/17/sei-investments-company-seic-holdings-cut-by-allianz-asset-management-gmbh.html.
SEI Investments Company 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.
Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC).
Receive News & Ratings for SEI Investments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SEI Investments and related companies with MarketBeat.com's FREE daily email newsletter.