SG Americas Securities LLC reduced its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 60.4% in the 1st quarter, Holdings Channel reports. The firm owned 16,182 shares of the asset manager’s stock after selling 24,703 shares during the period. SG Americas Securities LLC’s holdings in SEI Investments were worth $974,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently added to or reduced their stakes in SEIC. State of Alaska Department of Revenue boosted its stake in shares of SEI Investments by 8.3% during the first quarter. State of Alaska Department of Revenue now owns 54,887 shares of the asset manager’s stock worth $3,304,000 after buying an additional 4,206 shares during the period. American Century Companies Inc. grew its position in SEI Investments by 15.1% in the 4th quarter. American Century Companies Inc. now owns 18,549 shares of the asset manager’s stock valued at $1,131,000 after buying an additional 2,428 shares during the last quarter. Teacher Retirement System of Texas increased its stake in SEI Investments by 1.0% in the 4th quarter. Teacher Retirement System of Texas now owns 112,997 shares of the asset manager’s stock valued at $6,886,000 after buying an additional 1,126 shares during the period. Commerce Bank raised its position in SEI Investments by 2.2% during the 4th quarter. Commerce Bank now owns 11,386 shares of the asset manager’s stock worth $694,000 after buying an additional 240 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its holdings in shares of SEI Investments by 1.5% in the first quarter. New York State Teachers Retirement System now owns 145,007 shares of the asset manager’s stock valued at $8,731,000 after acquiring an additional 2,100 shares in the last quarter. Hedge funds and other institutional investors own 70.44% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have recently commented on SEIC. The Goldman Sachs Group reduced their price target on SEI Investments to $58.00 in a report on Friday, July 22nd. Morgan Stanley lowered their price target on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, July 21st. Keefe, Bruyette & Woods reduced their price objective on shares of SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, Piper Sandler lowered their price target on SEI Investments to $61.00 and set an “outperform” rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.50.
SEI Investments Stock Performance
NASDAQ SEIC opened at $55.36 on Friday. The company has a market capitalization of $7.50 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 1.23 and a beta of 1.03. SEI Investments has a twelve month low of $51.07 and a twelve month high of $65.22. The company has a current ratio of 5.42, a quick ratio of 5.30 and a debt-to-equity ratio of 0.02. The business’s 50-day moving average price is $54.76 and its 200 day moving average price is $57.08.
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 EPS for the quarter, missing the consensus estimate of $0.83 by ($0.02). The company had revenue of $481.67 million for the quarter, compared to analyst estimates of $472.18 million. SEI Investments had a return on equity of 30.81% and a net margin of 28.53%. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period last year, the company posted $0.93 EPS. On average, research analysts predict that SEI Investments will post 3.68 earnings per share for the current year.
SEI Investments Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.89%. This is a boost from SEI Investments’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, June 10th. SEI Investments’s payout ratio is 19.18%.
SEI Investments announced that its Board of Directors has authorized a share repurchase program on Wednesday, June 1st that allows the company to buyback $200.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are 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.
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