Janus Henderson Group PLC Cuts Stake in SEI Investments (NASDAQ:SEIC)

Janus Henderson Group PLC reduced its holdings in shares of SEI Investments (NASDAQ:SEIC) by 46.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,947 shares of the asset manager’s stock after selling 3,400 shares during the period. Janus Henderson Group PLC’s holdings in SEI Investments were worth $273,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Aurora Investment Counsel lifted its stake in shares of SEI Investments by 0.6% in the 3rd 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. IFG Advisory LLC lifted its position in SEI Investments by 0.3% in the second quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager’s stock valued at $3,831,000 after purchasing an additional 166 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in SEI Investments by 16.3% in the second 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 during the last quarter. Creative Planning boosted its stake in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 182 shares during the period. Finally, Signaturefd LLC grew its holdings in shares of SEI Investments by 7.8% in the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager’s stock worth $190,000 after purchasing an additional 213 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Trading Down 0.9 %

Shares of SEI Investments stock opened at $85.83 on Monday. SEI Investments has a 12-month low of $61.28 and a 12-month high of $87.25. The company has a market cap of $11.06 billion, a P/E ratio of 20.73, a PEG ratio of 1.62 and a beta of 0.98. The company’s fifty day simple moving average is $78.17 and its two-hundred day simple moving average is $70.69.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s revenue was up 12.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. Analysts predict that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 27th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is currently 23.67%.

SEI Investments announced that its board has authorized a share repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SEIC shares. Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a report on Thursday, October 24th. Oppenheimer upped their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley raised their target price on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has an average rating of “Hold” and a consensus price target of $77.50.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the sale, the chairman now owns 7,377,506 shares in the company, valued at $608,570,469.94. This represents a 0.26 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 93,058 shares of company stock valued at $7,245,697 over the last ninety days. Company insiders own 14.30% of the company’s stock.

About SEI Investments

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.