SEI Investments (NASDAQ:SEIC) Shares Sold by Diversified Trust Co

Diversified Trust Co trimmed its position in shares of SEI Investments (NASDAQ:SEIC) by 33.3% in the fourth quarter, HoldingsChannel reports. The firm owned 36,054 shares of the asset manager’s stock after selling 17,966 shares during the period. Diversified Trust Co’s holdings in SEI Investments were worth $2,974,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its position in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares during the period. Fairfield Financial Advisors LTD acquired a new position in SEI Investments during the 2nd quarter worth $30,000. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of SEI Investments by 925.9% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of SEI Investments during the third quarter valued at $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of SEI Investments by 16.3% during 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 in the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SEIC shares. Morgan Stanley increased their target price 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. Piper Sandler raised their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods upped their target price on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $86.75.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the sale, the chairman now directly owns 7,232,922 shares in the company, valued at approximately $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,258 shares of company stock worth $19,753,402 in the last quarter. 14.30% of the stock is owned by company insiders.

SEI Investments Price Performance

Shares of SEIC opened at $81.18 on Wednesday. SEI Investments has a 12-month low of $62.34 and a 12-month high of $87.25. The stock has a market capitalization of $10.46 billion, a P/E ratio of 19.61, a P/E/G ratio of 1.62 and a beta of 0.98. The firm’s 50 day moving average is $81.78 and its 200-day moving average is $72.73.

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

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.49 per share. This represents a dividend yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date is Friday, December 27th. SEI Investments’s dividend payout ratio is currently 23.67%.

SEI Investments declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.