SEI Investments (NASDAQ:SEIC) Shares Bought by Raymond James & Associates

Raymond James & Associates grew its holdings in shares of SEI Investments (NASDAQ:SEICGet Rating) by 10.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 347,417 shares of the asset manager’s stock after acquiring an additional 33,489 shares during the quarter. Raymond James & Associates owned about 0.25% of SEI Investments worth $20,918,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. State of Alaska Department of Revenue lifted its holdings in shares of SEI Investments by 8.3% in the first quarter. State of Alaska Department of Revenue now owns 54,887 shares of the asset manager’s stock valued at $3,304,000 after buying an additional 4,206 shares during the period. American Century Companies Inc. lifted its holdings in shares of SEI Investments by 15.1% in the fourth quarter. American Century Companies Inc. now owns 18,549 shares of the asset manager’s stock valued at $1,131,000 after buying an additional 2,428 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of 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 valued at $6,886,000 after purchasing an additional 1,126 shares during the last quarter. Commerce Bank lifted its holdings in shares of SEI Investments by 2.2% during the fourth quarter. Commerce Bank now owns 11,386 shares of the asset manager’s stock valued at $694,000 after purchasing an additional 240 shares during the last quarter. Finally, New York State Teachers Retirement System lifted its holdings in shares of 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 valued at $8,731,000 after purchasing an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.

Insider Transactions at SEI Investments

In other news, EVP Wayne Withrow sold 15,000 shares of the company’s 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 completion of the sale, the executive vice president now owns 38,799 shares in the company, valued at approximately $2,164,208.22. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Dennis Mcgonigle sold 35,000 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 576,663 shares in the company, valued at approximately $31,802,964.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Wayne Withrow sold 15,000 shares of the company’s stock in a transaction dated 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 owns 38,799 shares of the company’s stock, valued at approximately $2,164,208.22. The disclosure for this sale can be found here. 25.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SEIC has been the subject of several analyst reports. Keefe, Bruyette & Woods reduced their target price on SEI Investments from $62.00 to $55.00 in a report on Thursday, July 14th. Morgan Stanley dropped 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. The Goldman Sachs Group dropped their price target on SEI Investments to $58.00 in a research report on Friday, July 22nd. Piper Sandler dropped 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. Finally, StockNews.com lowered SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SEI Investments has a consensus rating of “Hold” and a consensus price target of $60.50.

SEI Investments Price Performance

Shares of SEIC stock opened at $54.53 on Friday. SEI Investments has a fifty-two week low of $51.07 and a fifty-two week high of $65.22. The stock’s 50-day moving average is $54.96 and its two-hundred day moving average is $56.62. The firm has a market cap 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:SEICGet Rating) last issued its earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The firm had revenue of $481.67 million during the quarter, compared to analyst estimates of $472.18 million. During the same period in the previous year, the company earned $0.93 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, research analysts expect that SEI Investments will post 3.71 EPS for the current year.

SEI Investments announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, June 1st that allows the company to buyback $200.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 2.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were given a $0.40 dividend. This is a positive change from SEI Investments’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.93%. The ex-dividend date of this dividend was Friday, June 10th. SEI Investments’s dividend payout ratio is presently 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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