Xact Kapitalforvaltning AB Has $745,000 Stake in SEI Investments (NASDAQ:SEIC)
Xact Kapitalforvaltning AB cut its stake in SEI Investments (NASDAQ:SEIC) by 13.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 14,260 shares of the asset manager’s stock after selling 2,189 shares during the quarter. Xact Kapitalforvaltning AB’s holdings in SEI Investments were worth $745,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of SEIC. Oregon Public Employees Retirement Fund lifted its holdings in SEI Investments by 4,406.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,250,355 shares of the asset manager’s stock worth $70,000 after buying an additional 3,178,224 shares during the period. Norges Bank purchased a new stake in SEI Investments in the fourth quarter worth about $65,129,000. Millennium Management LLC lifted its holdings in SEI Investments by 78.4% in the fourth quarter. Millennium Management LLC now owns 1,275,814 shares of the asset manager’s stock worth $58,943,000 after buying an additional 560,833 shares during the period. Dimensional Fund Advisors LP lifted its holdings in SEI Investments by 67.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 866,478 shares of the asset manager’s stock worth $40,030,000 after buying an additional 349,016 shares during the period. Finally, MERIAN GLOBAL INVESTORS UK Ltd purchased a new stake in SEI Investments in the fourth quarter worth about $15,841,000. Institutional investors and hedge funds own 68.76% of the company’s stock.
In related news, insider Paul Klauder sold 7,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $52.89, for a total value of $396,675.00. Following the sale, the insider now owns 24,841 shares in the company, valued at $1,313,840.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kathy Heilig sold 16,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $51.50, for a total transaction of $824,000.00. Following the completion of the sale, the vice president now owns 17,891 shares in the company, valued at approximately $921,386.50. The disclosure for this sale can be found here. Insiders sold 28,500 shares of company stock worth $1,480,475 in the last 90 days. 22.60% of the stock is currently owned by corporate insiders.
SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.73 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by ($0.03). The firm had revenue of $400.82 million for the quarter, compared to the consensus estimate of $404.82 million. SEI Investments had a net margin of 29.64% and a return on equity of 29.76%. SEI Investments’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the business earned $0.86 EPS. On average, sell-side analysts expect that SEI Investments will post 3.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Wednesday, June 12th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.45%. The ex-dividend date is Tuesday, June 11th. SEI Investments’s dividend payout ratio is currently 21.02%.
Several analysts have commented on the stock. ValuEngine upgraded shares of SEI Investments from a “sell” rating to a “hold” rating in a report on Tuesday, April 16th. Keefe, Bruyette & Woods downgraded shares of SEI Investments from an “outperform” rating to a “market perform” rating and raised their target price for the company from $56.00 to $64.00 in a research note on Sunday, April 14th. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Friday, April 12th. William Blair reissued a “market perform” rating on shares of SEI Investments in a research report on Monday, April 22nd. Finally, BidaskClub raised shares of SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, April 9th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $66.20.
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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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