Valley National Advisers Inc. Trims Stock Position in SEI Investments (NASDAQ:SEIC)

Valley National Advisers Inc. reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 8.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,318 shares of the asset manager’s stock after selling 1,194 shares during the quarter. Valley National Advisers Inc.’s holdings in SEI Investments were worth $957,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. VisionPoint Advisory Group LLC grew its position in shares of SEI Investments by 67.1% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares during the period. TFO Wealth Partners LLC grew its position in shares of SEI Investments by 6,277.8% in the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after buying an additional 565 shares during the period. Evolution Advisers Inc. purchased a new stake in shares of SEI Investments in the 4th quarter worth about $55,000. Neo Ivy Capital Management purchased a new stake in shares of SEI Investments in the 4th quarter worth about $61,000. Finally, Principal Securities Inc. purchased a new stake in shares of SEI Investments in the 4th quarter worth about $66,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $74.00 target price (up from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Piper Sandler cut their price objective on shares of 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, Oppenheimer increased their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $71.00.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 70,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $68.62, for a total value of $4,803,400.00. Following the transaction, the chairman now owns 7,795,471 shares in the company, valued at approximately $534,925,220.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 48,000 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $68.09, for a total value of $3,268,320.00. Following the transaction, the chairman now owns 7,677,471 shares in the company, valued at approximately $522,759,000.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 70,000 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $68.62, for a total transaction of $4,803,400.00. Following the completion of the transaction, the chairman now owns 7,795,471 shares in the company, valued at approximately $534,925,220.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 123,000 shares of company stock worth $8,406,920. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

SEIC opened at $65.64 on Thursday. The stock has a market capitalization of $8.62 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.31 and a beta of 0.99. The company’s 50-day simple moving average is $66.65 and its two-hundred day simple moving average is $66.58. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 24.80% and a return on equity of 22.91%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.79 EPS. Research analysts forecast that SEI Investments will post 4.14 EPS for the current fiscal year.

SEI Investments Increases Dividend

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

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.