Commerce Bank decreased its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,664 shares of the asset manager’s stock after selling 722 shares during the quarter. Commerce Bank’s holdings in SEI Investments were worth $642,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. acquired a new position in shares of SEI Investments in the 1st quarter worth approximately $36,000. Artemis Wealth Advisors LLC bought a new stake in shares of SEI Investments in the 1st quarter worth approximately $40,000. Quadrant Capital Group LLC lifted its holdings in shares of SEI Investments by 104.6% in the 1st quarter. Quadrant Capital Group LLC now owns 843 shares of the asset manager’s stock worth $51,000 after purchasing an additional 431 shares during the last quarter. UMB Bank N A MO bought a new stake in shares of SEI Investments in the 4th quarter worth approximately $52,000. Finally, Lazard Asset Management LLC lifted its holdings in shares of SEI Investments by 114.4% in the 4th quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager’s stock worth $53,000 after purchasing an additional 469 shares during the last quarter. Institutional investors and hedge funds own 70.44% of the company’s stock.
Insider Buying and Selling at SEI Investments
In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of the business’s 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SEI Investments news, EVP Wayne Withrow sold 15,000 shares of the business’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 transaction, the executive vice president now owns 38,799 shares in the company, valued at $2,164,208.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dennis Mcgonigle sold 35,000 shares of the business’s 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 completion of the sale, the insider now directly owns 576,663 shares of the company’s stock, valued at approximately $31,802,964.45. The disclosure for this sale can be found here. Corporate insiders own 25.40% of the company’s stock.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on SEIC. Keefe, Bruyette & Woods cut their price target on SEI Investments from $62.00 to $55.00 in a report on Thursday, July 14th. Piper Sandler cut their price target on SEI Investments to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. The Goldman Sachs Group cut their price target on SEI Investments to $58.00 in a report on Friday, July 22nd. StockNews.com downgraded SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. Finally, William Blair reaffirmed a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments has an average rating of “Hold” and a consensus target price of $60.50.
SEI Investments Trading Up 0.4 %
Shares of SEIC stock opened at $58.34 on Tuesday. SEI Investments has a 1-year low of $51.07 and a 1-year high of $65.22. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 13.99, a P/E/G ratio of 1.31 and a beta of 0.99. The stock’s fifty day simple moving average is $54.52 and its 200-day simple moving average is $56.77.
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The business had revenue of $481.67 million for the quarter, compared to analysts’ expectations of $472.18 million. During the same quarter in the prior year, the firm posted $0.93 EPS. The business’s quarterly revenue was up 1.3% compared to the same quarter last year. On average, sell-side analysts predict that SEI Investments will post 3.71 EPS for the current year.
SEI Investments announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 1st that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to buy up to 2.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
SEI Investments Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Monday, June 13th were issued a dividend of $0.40 per share. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. The ex-dividend date was Friday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.74%. SEI Investments’s payout ratio is currently 19.18%.
SEI Investments 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.
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