Goodnow Investment Group LLC decreased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 321,405 shares of the asset manager’s stock after selling 6,960 shares during the quarter. SEI Investments comprises 4.0% of Goodnow Investment Group LLC’s holdings, making the stock its 11th largest holding. Goodnow Investment Group LLC owned approximately 0.20% of SEI Investments worth $19,625,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Invictus RG purchased a new position in shares of SEI Investments during the third quarter worth $111,000. Pacer Advisors Inc. boosted its position in shares of SEI Investments by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after buying an additional 203 shares during the period. Meeder Asset Management Inc. boosted its position in shares of SEI Investments by 7,575.0% during the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after buying an additional 2,424 shares during the period. D.A. Davidson & CO. boosted its position in shares of SEI Investments by 9.3% during the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after buying an additional 253 shares during the period. Finally, Mosaic Family Wealth LLC boosted its position in shares of SEI Investments by 6.7% during the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock worth $171,000 after buying an additional 200 shares during the period. 70.47% of the stock is owned by institutional investors.
SEI Investments (SEIC) traded down $0.21 on Friday, hitting $71.86. The stock had a trading volume of 397,416 shares, compared to its average volume of 540,209. The company has a debt-to-equity ratio of 0.03, a current ratio of 5.52 and a quick ratio of 5.41. SEI Investments has a twelve month low of $47.88 and a twelve month high of $72.48. The firm has a market capitalization of $11,320.00, a PE ratio of 31.38, a P/E/G ratio of 2.56 and a beta of 1.40.
SEI Investments declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a semiannual dividend, which will be paid on Monday, January 8th. Shareholders of record on Wednesday, December 27th will be given a dividend of $0.30 per share. This is a boost from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date of this dividend is Tuesday, December 26th. This represents a yield of 0.85%. SEI Investments’s payout ratio is presently 26.20%.
In other news, insider Wayne Withrow sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $70.35, for a total transaction of $703,500.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Alfred P. West, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $64.64, for a total value of $3,232,000.00. Following the sale, the insider now directly owns 10,619,272 shares in the company, valued at approximately $686,429,742.08. The disclosure for this sale can be found here. Insiders have sold a total of 136,250 shares of company stock worth $9,057,050 in the last quarter. 16.50% of the stock is currently owned by insiders.
SEIC has been the subject of several research analyst reports. Zacks Investment Research upgraded SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price target for the company in a research report on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a report on Sunday, September 3rd. Mizuho reaffirmed a “buy” rating and set a $65.00 price target on shares of SEI Investments in a report on Friday, October 20th. Finally, Oppenheimer lifted their price target on SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $67.25.
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.
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