Pacer Advisors Inc. Decreases Holdings in SEI Investments (NASDAQ:SEIC)

Pacer Advisors Inc. lessened its stake in shares of SEI Investments (NASDAQ:SEIC) by 32.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,607 shares of the asset manager’s stock after selling 6,958 shares during the period. Pacer Advisors Inc.’s holdings in SEI Investments were worth $1,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. First Horizon Advisors Inc. lifted its position in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in SEI Investments during the 3rd quarter worth $45,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 worth $77,000 after buying an additional 168 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of SEI Investments by 6,818.9% in the third quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager’s stock valued at $177,000 after buying an additional 2,523 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday. Oppenheimer upped their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Piper Sandler lifted their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Morgan Stanley lifted their price target 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 assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $90.00.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the transaction, the chairman now directly owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the completion of the transaction, the executive vice president now directly owns 6,500 shares in the company, valued at $514,410. The trade was a 60.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 186,194 shares of company stock valued at $15,769,472 in the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

NASDAQ SEIC opened at $86.58 on Monday. The firm has a market cap of $11.16 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 1.41 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 one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.41%. Equities analysts predict that SEI Investments will post 4.89 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a $0.49 dividend. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio is presently 22.17%.

SEI Investments declared that its board has initiated a share buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.