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Securian Asset Management Inc. Sells 1,278 Shares of SEI Investments (NASDAQ:SEIC)

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Securian Asset Management Inc. lessened its position in SEI Investments (NASDAQ:SEIC) by 11.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,615 shares of the asset manager’s stock after selling 1,278 shares during the quarter. Securian Asset Management Inc.’s holdings in SEI Investments were worth $570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Meeder Asset Management Inc. grew its position in SEI Investments by 100.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 649 shares of the asset manager’s stock worth $40,000 after purchasing an additional 325 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in SEI Investments in the 2nd quarter worth $53,000. PFG Private Wealth Management LLC acquired a new stake in SEI Investments in the 3rd quarter worth $74,000. JJJ Advisors Inc. grew its position in SEI Investments by 32.6% in the 3rd quarter. JJJ Advisors Inc. now owns 1,309 shares of the asset manager’s stock worth $78,000 after purchasing an additional 322 shares during the last quarter. Finally, Maverick Capital Ltd. acquired a new stake in SEI Investments in the 2nd quarter worth $163,000. Hedge funds and other institutional investors own 69.21% of the company’s stock.

In related news, EVP Dennis Mcgonigle sold 17,500 shares of SEI Investments stock in a transaction dated Wednesday, November 3rd. The shares were sold at an average price of $62.79, for a total transaction of $1,098,825.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wayne Withrow sold 3,000 shares of the business’s stock in a transaction dated Monday, November 1st. The stock was sold at an average price of $63.95, for a total transaction of $191,850.00. The disclosure for this sale can be found here. Insiders have sold a total of 68,500 shares of company stock valued at $4,193,755 over the last three months. 24.50% of the stock is currently owned by insiders.

Several analysts have issued reports on the stock. Truist Securities assumed coverage on shares of SEI Investments in a research report on Tuesday, November 2nd. They issued a “hold” rating and a $67.00 price target on the stock. Truist started coverage on shares of SEI Investments in a research report on Tuesday, November 2nd. They set a “hold” rating and a $67.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.20.

Shares of SEI Investments stock opened at $63.09 on Tuesday. The firm’s 50-day simple moving average is $62.25 and its 200-day simple moving average is $61.56. SEI Investments has a twelve month low of $52.12 and a twelve month high of $65.22. The firm has a market cap of $8.80 billion, a P/E ratio of 17.28, a price-to-earnings-growth ratio of 1.36 and a beta of 1.09.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Tuesday, October 19th. The asset manager reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.02. SEI Investments had a net margin of 28.34% and a return on equity of 29.24%. The business had revenue of $485.32 million for the quarter, compared to analyst estimates of $482.33 million. During the same period in the previous year, the business earned $0.75 EPS. The firm’s revenue was up 14.2% on a year-over-year basis. Sell-side analysts predict that SEI Investments will post 3.74 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a share buyback program on Monday, December 13th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 2.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

The company also recently declared a Semi-Annual dividend, which was paid on Friday, January 7th. Investors of record on Tuesday, December 21st were issued a dividend of $0.40 per share. This is an increase from SEI Investments’s previous Semi-Annual dividend of $0.26. This represents a yield of 1.2%. The ex-dividend date of this dividend was Monday, December 20th. SEI Investments’s dividend payout ratio (DPR) is currently 21.92%.

SEI Investments Company Profile

SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.

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