Handelsbanken Fonder AB lessened its position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 18.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,091 shares of the asset manager’s stock after selling 7,165 shares during the quarter. Handelsbanken Fonder AB’s holdings in SEI Investments were worth $1,872,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of SEI Investments by 10.7% in the first quarter. Raymond James & Associates now owns 347,417 shares of the asset manager’s stock worth $20,918,000 after buying an additional 33,489 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of SEI Investments by 55.3% in the first quarter. JPMorgan Chase & Co. now owns 408,652 shares of the asset manager’s stock worth $24,605,000 after buying an additional 145,432 shares during the last quarter. WINTON GROUP Ltd boosted its stake in shares of SEI Investments by 1.4% in the first quarter. WINTON GROUP Ltd now owns 18,778 shares of the asset manager’s stock worth $1,131,000 after buying an additional 261 shares during the last quarter. CTC Capital Management LLC purchased a new stake in shares of SEI Investments in the first quarter worth about $278,000. Finally, Profund Advisors LLC boosted its stake in shares of SEI Investments by 3.8% in the first quarter. Profund Advisors LLC now owns 5,637 shares of the asset manager’s stock worth $339,000 after buying an additional 207 shares during the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on the company. StockNews.com downgraded SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Piper Sandler lowered their price target on SEI Investments to $61.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 27th. The Goldman Sachs Group lowered their price target on SEI Investments to $58.00 in a research report on Friday, July 22nd. William Blair reiterated a “mkt perform” rating on shares of SEI Investments in a research report on Monday, July 25th. Finally, Morgan Stanley lowered their price target on SEI Investments from $55.00 to $52.00 and set an “underweight” rating on the stock in a research report on Thursday, July 21st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.50.
Insider Buying and Selling
In related news, EVP Wayne Withrow sold 15,000 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 is available at this hyperlink. In other news, insider Dennis Mcgonigle sold 35,000 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the completion of the transaction, the insider now directly owns 576,663 shares in the company, valued at $31,802,964.45. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Wayne Withrow sold 15,000 shares of the firm’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 transaction, the executive vice president now owns 38,799 shares of the company’s stock, valued at $2,164,208.22. The disclosure for this sale can be found here. 25.40% of the stock is currently owned by company insiders.
SEI Investments Price Performance
Shares of SEI Investments stock opened at $54.53 on Friday. The business has a 50 day simple moving average of $54.96 and a two-hundred day simple moving average of $56.62. SEI Investments has a 12 month low of $51.07 and a 12 month high of $65.22. The stock has a market capitalization of $7.39 billion, a P/E ratio of 13.08, a PEG ratio of 1.26 and a beta of 0.99.
SEI Investments (NASDAQ:SEIC – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 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 analyst estimates of $472.18 million. During the same period in the prior year, the business posted $0.93 EPS. SEI Investments’s revenue for the quarter was up 1.3% compared to the same quarter last year. As a group, research analysts anticipate that SEI Investments will post 3.71 EPS for the current fiscal year.
SEI Investments Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Monday, June 13th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.93%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, June 10th. SEI Investments’s dividend payout ratio is presently 19.18%.
SEI Investments declared that its board has approved a stock repurchase program on Wednesday, June 1st that permits the company to buyback $200.00 million in shares. This buyback authorization permits the asset manager to purchase up to 2.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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