Lafayette Investments Inc. Acquires Shares of 15,167 SEI Investments (NASDAQ:SEIC)

Lafayette Investments Inc. acquired a new stake in SEI Investments (NASDAQ:SEIC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 15,167 shares of the asset manager’s stock, valued at approximately $851,000.

A number of other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC grew its stake in SEI Investments by 19.1% in the fourth quarter. Geode Capital Management LLC now owns 1,770,128 shares of the asset manager’s stock valued at $81,741,000 after acquiring an additional 283,678 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of SEI Investments by 67.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 866,478 shares of the asset manager’s stock valued at $40,030,000 after buying an additional 349,016 shares during the last quarter. American Capital Management Inc. boosted its position in shares of SEI Investments by 0.3% during the first quarter. American Capital Management Inc. now owns 736,468 shares of the asset manager’s stock valued at $38,480,000 after buying an additional 1,850 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of SEI Investments by 1.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 606,141 shares of the asset manager’s stock valued at $34,005,000 after buying an additional 11,034 shares during the last quarter. Finally, FIL Ltd purchased a new position in shares of SEI Investments during the first quarter valued at approximately $30,695,000. 69.77% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:SEIC traded up $0.06 during mid-day trading on Friday, hitting $58.87. 289,739 shares of the company traded hands, compared to its average volume of 294,667. The stock has a market cap of $8.88 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.52 and a beta of 1.32. The company has a current ratio of 5.78, a quick ratio of 5.61 and a debt-to-equity ratio of 0.02. SEI Investments has a 12-month low of $42.27 and a 12-month high of $64.21. The stock has a 50-day moving average price of $57.51 and a two-hundred day moving average price of $54.64.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, July 24th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.03. SEI Investments had a return on equity of 29.86% and a net margin of 29.85%. The company had revenue of $409.60 million for the quarter, compared to analysts’ expectations of $412.28 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. SEI Investments’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts expect that SEI Investments will post 3.22 earnings per share for the current year.

In other SEI Investments news, insider Dennis Mcgonigle sold 19,722 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $58.19, for a total value of $1,147,623.18. Following the transaction, the insider now owns 587,262 shares of the company’s stock, valued at $34,172,775.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sarah Blumenstein sold 5,000 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $58.25, for a total value of $291,250.00. Following the completion of the transaction, the director now directly owns 10,681 shares in the company, valued at approximately $622,168.25. The disclosure for this sale can be found here. In the last three months, insiders sold 34,222 shares of company stock worth $2,017,423. Insiders own 22.60% of the company’s stock.

SEIC has been the topic of several analyst reports. BidaskClub cut SEI Investments from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 16th. Zacks Investment Research cut SEI Investments from a “buy” rating to a “hold” rating and set a $63.00 target price on the stock. in a research report on Tuesday, June 11th. Finally, ValuEngine raised SEI Investments from a “sell” rating to a “hold” rating in a research report on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. SEI Investments has a consensus rating of “Hold” and a consensus target price of $61.50.

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

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