Cullen Investment Group LTD. Cuts Position in SEI Investments (NASDAQ:SEIC)

Cullen Investment Group LTD. lessened its holdings in SEI Investments (NASDAQ:SEIC) by 5.7% during the first quarter, Holdings Channel.com reports. The institutional investor owned 4,450 shares of the asset manager’s stock after selling 267 shares during the quarter. Cullen Investment Group LTD.’s holdings in SEI Investments were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. VisionPoint Advisory Group LLC lifted its stake in SEI Investments by 67.1% in the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares during the last quarter. TFO Wealth Partners LLC lifted its stake in SEI Investments by 6,277.8% in the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 565 shares during the last quarter. Evolution Advisers Inc. purchased a new position in SEI Investments in the fourth quarter valued at approximately $55,000. Neo Ivy Capital Management purchased a new position in SEI Investments in the fourth quarter valued at approximately $61,000. Finally, Principal Securities Inc. purchased a new position in SEI Investments in the fourth quarter valued at approximately $66,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the transaction, the chairman now owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the transaction, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total value of $10,612,500.00. Following the transaction, the chairman now directly owns 7,884,834 shares in the company, valued at $557,852,005.50. The disclosure for this sale can be found here. Insiders have sold a total of 287,363 shares of company stock valued at $20,081,067 over the last 90 days. 14.30% of the stock is owned by insiders.

Analyst Ratings Changes

SEIC has been the topic of several recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and set a $74.00 target price (up previously from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Oppenheimer increased their target price on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Piper Sandler dropped their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Finally, StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. 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 company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.00.

SEI Investments Stock Performance

SEI Investments stock opened at $65.76 on Thursday. The stock has a market cap of $8.64 billion, a P/E ratio of 17.97, a PEG ratio of 1.32 and a beta of 1.02. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54. The firm’s fifty day moving average price is $66.95 and its 200-day moving average price is $66.26.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. The business had revenue of $511.58 million for the quarter, compared to analysts’ expectations of $510.41 million. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The firm’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. Sell-side analysts predict that SEI Investments will post 4.14 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Monday, June 10th. This is a boost from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s dividend payout ratio is currently 25.14%.

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.