2,850 Shares in SEI Investments (NASDAQ:SEIC) Purchased by Avantra Family Wealth Inc.

Avantra Family Wealth Inc. purchased a new position in SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,850 shares of the asset manager’s stock, valued at approximately $235,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SEIC. Aurora Investment Counsel boosted its holdings in SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after acquiring an additional 144 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock valued at $77,000 after purchasing an additional 168 shares in the last quarter. Creative Planning grew its holdings in shares of SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock worth $559,000 after purchasing an additional 182 shares during the period. Procyon Advisors LLC grew its holdings in shares of SEI Investments by 0.5% during the 4th quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager’s stock worth $2,936,000 after purchasing an additional 187 shares during the period. Finally, First Horizon Advisors Inc. increased its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Trading Up 0.6 %

SEIC stock opened at $86.58 on Monday. The company has a market capitalization of $11.16 billion, a P/E ratio of 19.59, a PEG ratio of 1.48 and a beta of 0.98. The firm has a 50 day simple moving average of $83.17 and a 200-day simple moving average of $74.89. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, research analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio (DPR) is currently 22.17%.

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SEIC. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a research report on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Morgan Stanley upped their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, SEI Investments has an average rating of “Hold” and an average price target of $90.00.

Insider Transactions at SEI Investments

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares of the company’s stock, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Peterson sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $514,410. This trade represents a 60.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 186,194 shares of company stock worth $15,769,472. 14.30% of the stock is currently owned by corporate insiders.

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.