Envestnet Asset Management Inc. lifted its position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,692 shares of the asset manager’s stock after acquiring an additional 9,201 shares during the period. Envestnet Asset Management Inc. owned approximately 0.17% of SEI Investments worth $13,830,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Congress Asset Management Co. MA lifted its stake in SEI Investments by 4.6% in the 1st quarter. Congress Asset Management Co. MA now owns 4,443 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 194 shares during the last quarter. Commerce Bank lifted its stake in SEI Investments by 2.2% in the 4th 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. Fifth Third Bancorp raised its stake in shares of SEI Investments by 23.6% during the first quarter. Fifth Third Bancorp now owns 1,445 shares of the asset manager’s stock valued at $87,000 after acquiring an additional 276 shares during the last quarter. Nissay Asset Management Corp Japan ADV raised its stake in shares of SEI Investments by 2.0% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 14,308 shares of the asset manager’s stock valued at $872,000 after acquiring an additional 280 shares during the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in shares of SEI Investments by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 27,600 shares of the asset manager’s stock valued at $1,635,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 70.44% of the company’s stock.
Insiders Place Their Bets
In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were 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 in the company, valued at $31,802,964.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 25.40% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on SEIC shares. StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. William Blair reaffirmed a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. Morgan Stanley dropped their price target on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, July 21st. Piper Sandler dropped their price target on shares of SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and an average price target of $60.50.
SEI Investments Price Performance
SEIC opened at $55.63 on Friday. SEI Investments has a twelve month low of $51.07 and a twelve month high of $65.22. The company has a fifty day moving average of $54.65 and a 200-day moving average of $56.83. The stock has a market cap of $7.54 billion, a PE ratio of 13.34, a price-to-earnings-growth ratio of 1.26 and a beta of 0.99.
SEI Investments (NASDAQ:SEIC – Get Rating) last posted its quarterly earnings data 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). The firm had revenue of $481.67 million for the quarter, compared to analyst estimates of $472.18 million. SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The company’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. Sell-side analysts anticipate that SEI Investments will post 3.71 EPS for the current fiscal year.
SEI Investments declared that its board has authorized a share repurchase plan on Wednesday, June 1st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
SEI Investments Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. This is a boost 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 (DPR) is presently 19.18%.
SEI Investments Company 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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