2,640 Shares in SEI Investments (NASDAQ:SEIC) Bought by TrueWealth Advisors LLC

TrueWealth Advisors LLC bought a new stake in SEI Investments (NASDAQ:SEIC) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,640 shares of the asset manager’s stock, valued at approximately $218,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. CHURCHILL MANAGEMENT Corp bought a new position in shares of SEI Investments in the 4th quarter worth approximately $1,818,000. JPMorgan Chase & Co. boosted its stake in shares of SEI Investments by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager’s stock worth $35,143,000 after acquiring an additional 60,824 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of SEI Investments by 60.7% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock valued at $1,386,000 after acquiring an additional 8,094 shares during the period. Quantinno Capital Management LP grew its position in shares of SEI Investments by 56.7% during the 3rd quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock valued at $1,217,000 after acquiring an additional 6,364 shares during the period. Finally, Portfolio Design Labs LLC purchased a new stake in shares of SEI Investments in the 3rd quarter worth $1,701,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Oppenheimer boosted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley raised their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods upped their price target on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $86.75.

SEI Investments Trading Up 0.6 %

NASDAQ SEIC opened at $83.48 on Friday. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The stock has a market cap of $10.76 billion, a PE ratio of 20.16, a P/E/G ratio of 1.34 and a beta of 0.98. The stock’s 50 day moving average is $82.40 and its 200 day moving average is $73.58.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million for 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%. The company’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 earnings per share. On average, analysts forecast that SEI Investments will post 4.42 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company 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 represents a dividend yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s payout ratio is 23.67%.

SEI Investments declared that its Board of Directors has approved a share buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, EVP Michael Peterson sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total transaction of $791,400.00. Following the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $514,410. This represents a 60.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of SEI Investments stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the transaction, the chairman now owns 7,232,922 shares of the company’s stock, valued at approximately $616,461,942.06. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 239,258 shares of company stock worth $19,753,402. Corporate insiders own 14.30% of the company’s stock.

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.