Wealth Alliance Advisory Group LLC raised its stake in SEI Investments (NASDAQ:SEIC) by 112.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,504 shares of the asset manager’s stock after buying an additional 19,820 shares during the period. SEI Investments accounts for 1.6% of Wealth Alliance Advisory Group LLC’s holdings, making the stock its 17th largest holding. Wealth Alliance Advisory Group LLC’s holdings in SEI Investments were worth $2,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in SEI Investments by 73.5% in the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,900 shares of the asset manager’s stock valued at $424,000 after buying an additional 2,500 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in SEI Investments in the fourth quarter valued at approximately $2,941,000. LPL Financial LLC lifted its holdings in shares of SEI Investments by 11.8% during the fourth quarter. LPL Financial LLC now owns 27,624 shares of the asset manager’s stock worth $1,985,000 after purchasing an additional 2,916 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of SEI Investments by 9.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 80,246 shares of the asset manager’s stock worth $5,767,000 after purchasing an additional 6,662 shares during the period. Finally, MML Investors Services LLC acquired a new position in shares of SEI Investments during the fourth quarter worth $411,000. Hedge funds and other institutional investors own 70.01% of the company’s stock.
In related news, insider Joseph P. Ujobai sold 20,000 shares of SEI Investments stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $66.52, for a total transaction of $1,330,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 17.30% of the stock is owned by company insiders.
Shares of SEI Investments traded up $0.60, reaching $66.47, during mid-day trading on Wednesday, MarketBeat Ratings reports. 1,939 shares of the company’s stock were exchanged, compared to its average volume of 679,591. The firm has a market cap of $10.43 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 1.76 and a beta of 1.27. The company has a debt-to-equity ratio of 0.01, a quick ratio of 6.31 and a current ratio of 6.43. SEI Investments has a twelve month low of $52.20 and a twelve month high of $78.35.
SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 25th. The asset manager reported $0.86 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.10. SEI Investments had a net margin of 28.97% and a return on equity of 29.07%. The company had revenue of $405.60 million for the quarter, compared to analyst estimates of $408.10 million. During the same quarter in the previous year, the business earned $0.55 earnings per share. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. sell-side analysts forecast that SEI Investments will post 3.13 EPS for the current year.
SEI Investments declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 30th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to buy up to 1.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a semiannual dividend, which will be paid on Friday, June 22nd. Investors of record on Thursday, June 14th will be paid a dividend of $0.30 per share. This represents a yield of 0.94%. The ex-dividend date is Wednesday, June 13th. SEI Investments’s dividend payout ratio is presently 25.86%.
SEI Investments Profile
SEI Investments Co 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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