Qube Research & Technologies Ltd Cuts Stock Position in SEI Investments (NASDAQ:SEIC)

Qube Research & Technologies Ltd lessened its stake in shares of SEI Investments (NASDAQ:SEICGet Rating) by 95.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,057 shares of the asset manager’s stock after selling 178,544 shares during the quarter. Qube Research & Technologies Ltd’s holdings in SEI Investments were worth $485,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. State of Alaska Department of Revenue raised its stake in shares of SEI Investments by 8.3% during the first quarter. State of Alaska Department of Revenue now owns 54,887 shares of the asset manager’s stock worth $3,304,000 after purchasing an additional 4,206 shares during the last quarter. American Century Companies Inc. grew its holdings in SEI Investments by 15.1% during the fourth quarter. American Century Companies Inc. now owns 18,549 shares of the asset manager’s stock worth $1,131,000 after acquiring an additional 2,428 shares during the period. Teacher Retirement System of Texas grew its holdings in SEI Investments by 1.0% during the fourth quarter. Teacher Retirement System of Texas now owns 112,997 shares of the asset manager’s stock worth $6,886,000 after acquiring an additional 1,126 shares during the period. Commerce Bank grew its holdings in SEI Investments by 2.2% during the fourth quarter. Commerce Bank now owns 11,386 shares of the asset manager’s stock worth $694,000 after acquiring an additional 240 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in SEI Investments by 1.5% during the first quarter. New York State Teachers Retirement System now owns 145,007 shares of the asset manager’s stock worth $8,731,000 after acquiring an additional 2,100 shares during the period. Hedge funds and other institutional investors own 70.44% of the company’s stock.

Insider Activity

In other news, EVP Wayne Withrow sold 15,000 shares of the company’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the sale, the executive vice president now directly owns 38,799 shares in the company, valued at $2,164,208.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Wayne Withrow sold 15,000 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total transaction of $836,700.00. Following the transaction, the executive vice president now directly owns 38,799 shares in the company, valued at $2,164,208.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.15, for a total value of $1,930,250.00. Following the transaction, the insider now owns 576,663 shares in the company, valued at $31,802,964.45. The disclosure for this sale can be found here. Company insiders own 25.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SEIC. Keefe, Bruyette & Woods dropped their price objective on SEI Investments from $62.00 to $55.00 in a report on Thursday, July 14th. William Blair reaffirmed a “mkt perform” rating on shares of SEI Investments in a report on Monday, July 25th. Piper Sandler lowered their target price on SEI Investments to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Morgan Stanley lowered their target price on SEI Investments from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, July 21st. Finally, The Goldman Sachs Group lowered their target price on SEI Investments to $58.00 in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $60.50.

SEI Investments Stock Performance

SEI Investments stock opened at $56.33 on Tuesday. SEI Investments has a fifty-two week low of $51.07 and a fifty-two week high of $65.22. The stock’s fifty day moving average is $54.71 and its two-hundred day moving average is $56.73. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99.

SEI Investments (NASDAQ:SEICGet Rating) last issued its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The company had revenue of $481.67 million during the quarter, compared to analysts’ expectations of $472.18 million. During the same quarter in the prior year, the company earned $0.93 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments will post 3.71 EPS for the current fiscal year.

SEI Investments declared that its board has authorized a stock buyback program on Wednesday, June 1st that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Monday, June 13th were given a $0.40 dividend. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. The ex-dividend date was Friday, June 10th. SEI Investments’s dividend payout ratio is currently 19.18%.

SEI Investments Company Profile

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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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