Zurcher Kantonalbank Zurich Cantonalbank holds $755,000 position in SEI Investments (NASDAQ:SEIC)

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Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 11.3% in the first quarter, HoldingsChannel reports. The institutional investor held 12,540 shares of the asset manager after selling 1,598 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SEI Investments were worth $755,000 when it last filed with the SEC.

Several other large investors have also recently changed their SEIC holdings. The Alaska State Department of Revenue increased its stake in SEI Investments shares by 8.3% in Q1. The Alaska State Department of Revenue now owns 54,887 shares of the asset manager worth $3,304,000 after buying an additional 4,206 shares in the last quarter. American Century Companies Inc. increased its stake in SEI Investments shares by 15.1% during the 4th quarter. American Century Companies Inc. now owns 18,549 shares of the asset manager worth $1,131,000 after purchasing an additional 2,428 shares during the period. Teacher Retirement System of Texas increased its holdings of SEI Investments shares by 1.0% during the 4th quarter. Teacher Retirement System of Texas now owns 112,997 shares of the asset manager worth $6,886,000 after purchasing an additional 1,126 shares during the period. Commerce Bank increased its stake in SEI Investments shares by 2.2% during the 4th quarter. Commerce Bank now owns 11,386 shares of the asset manager worth $694,000 after buying an additional 240 shares during the period. Finally, Alliancebernstein LP increased its stake in SEI Investments by 12.3% in the fourth quarter. Alliancebernstein LP now owns 196,622 shares of the asset manager valued at $11,982,000 after acquiring an additional 21,499 shares during the period. 70.44% of the shares are held by institutional investors.

SEIC has been the subject of a number of recent analyst reports. Goldman Sachs Group downgraded shares of SEI Investments from a “buy” rating to a “neutral” rating and lowered its price target for the company from $67.00 to $65.00 in a research report from the Monday, March 28 th. StockNews.com launched coverage on SEI Investments shares in a research report on Thursday, March 31. They issued a “buy” rating on the stock. Finally, Morgan Stanley cut its price target on SEI Investments shares from $58.00 to $55.00 and set an “equal weight” rating on the stock in a Wednesday, July 6 research report. Three equity research analysts gave the stock a hold rating and two gave the stock a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.25.

SEIC shares opened at $53.93 on Tuesday. SEI Investments has a 1-year low of $51.34 and a 1-year high of $65.22. The company’s 50-day moving average is $55.21 and its 200-day moving average is $57.86. The company has a market capitalization of $7.40 billion, a price-earnings ratio of 12.57, a PEG ratio of 1.21 and a beta of 1.03. The company has a current ratio of 5.19, a quick ratio of 5.08 and a debt ratio of 0.02.

SEI Investments (NASDAQ:SEIC – Get Rating) last reported quarterly earnings data on Wednesday, April 20. The asset manager reported earnings per share of $1.36 for the quarter, matching the consensus estimate of $1.36. SEI Investments generated a net margin of 29.72% and a return on equity of 32.49%. The company posted revenue of $581.44 million for the quarter, versus analyst estimates of $560.41 million. In the same period a year earlier, the company posted earnings of $0.89 per share. SEI Investments’ revenues increased by 27.6% compared to the same quarter last year. On average, equity research analysts expect SEI Investments to post earnings per share of 3.77 for the current fiscal year.

SEI Investments said its board of directors authorized a share buyback program on Wednesday, June 1 that allows the company to repurchase $200.00 million of outstanding shares. This redemption authorization allows the asset manager to acquire up to 2.5% of its shares through purchases on the open market. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22. Investors of record on Monday, June 13 received a dividend of $0.40. This is a positive change from SEI Investments’ previous quarterly dividend of $0.37. This represents an annualized dividend of $1.60 and a yield of 2.97%. The ex-dividend date was Friday, June 10. SEI Investments’ dividend payout ratio is currently 18.65%.

About SEI Investments (Get a rating)

SEI Investments Company is a public asset management holding company. Through its subsidiaries, the Company provides its clients with wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions , financial services and investment advice.

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Want to see which other hedge funds hold SEIC? Visit HoldingsChannel.com for the latest 13F filings and insider trading for SEI Investments (NASDAQ:SEIC – Get Rating).

Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)



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