American Century Companies Inc. Acquires 16,843 Shares of SEI Investments Company $SEIC

American Century Companies Inc. grew its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 17.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,161 shares of the asset manager’s stock after purchasing an additional 16,843 shares during the quarter. American Century Companies Inc. owned about 0.09% of SEI Investments worth $10,438,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SEIC. AXQ Capital LP acquired a new position in SEI Investments during the second quarter worth $1,612,000. Brandywine Global Investment Management LLC boosted its stake in shares of SEI Investments by 101.5% during the 2nd quarter. Brandywine Global Investment Management LLC now owns 154,577 shares of the asset manager’s stock worth $13,890,000 after acquiring an additional 77,854 shares in the last quarter. Magnetar Financial LLC acquired a new position in shares of SEI Investments during the 2nd quarter valued at about $1,175,000. Swiss National Bank bought a new position in shares of SEI Investments in the 2nd quarter valued at approximately $18,340,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of SEI Investments in the 2nd quarter valued at approximately $952,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $81.25 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The company has a market cap of $9.95 billion, a PE ratio of 14.94 and a beta of 0.98. The firm has a fifty day moving average price of $81.98 and a two-hundred day moving average price of $85.75. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $578.51 million during the quarter, compared to analysts’ expectations of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The company’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.19 EPS. Analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has initiated a stock buyback plan on Friday, October 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the asset manager to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Carl Guarino sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total transaction of $864,100.00. Following the completion of the transaction, the director owned 16,042 shares in the company, valued at $1,386,189.22. This trade represents a 38.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares in the company, valued at approximately $6,479,408.06. The trade was a 11.68% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SEIC. Raymond James Financial upped their target price on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 14th. Morgan Stanley raised their target price on shares of SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods dropped their target price on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a report on Monday, October 13th. Zacks Research cut shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, SEI Investments currently has a consensus rating of “Moderate Buy” and an average price target of $104.40.

SEI Investments Company Profile

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.