Barclays PLC Decreases Holdings in SEI Investments (NASDAQ:SEIC)

Barclays PLC reduced its stake in SEI Investments (NASDAQ:SEIC) by 8.9% during the third quarter, according to its most recent filing with the SEC. The fund owned 166,012 shares of the asset manager’s stock after selling 16,163 shares during the quarter. Barclays PLC’s holdings in SEI Investments were worth $11,487,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its stake in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after acquiring an additional 632,024 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of SEI Investments in the 2nd quarter worth approximately $7,787,000. Verition Fund Management LLC lifted its stake in SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after purchasing an additional 107,222 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its holdings in SEI Investments by 211.6% during the third quarter. Chevy Chase Trust Holdings LLC now owns 79,690 shares of the asset manager’s stock valued at $5,514,000 after purchasing an additional 54,118 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 0.1 %

Shares of NASDAQ SEIC opened at $85.73 on Tuesday. The company has a market cap of $11.05 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 52 week low of $61.58 and a 52 week high of $87.25. The business has a 50-day simple moving average of $78.49 and a two-hundred day simple moving average of $70.82.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.87 earnings per share. Equities research analysts anticipate that SEI Investments will post 4.41 EPS for the current year.

SEI Investments announced that its board has authorized a share buyback plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th will be given a dividend of $0.49 per share. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. The ex-dividend date is Friday, December 27th. SEI Investments’s payout ratio is 23.67%.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $84.23, for a total transaction of $504,032.32. Following the completion of the transaction, the chairman now owns 7,371,522 shares of the company’s stock, valued at approximately $620,903,298.06. The trade was a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Carmen Romeo sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the sale, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. This represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 93,058 shares of company stock valued at $7,245,697. 14.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Oppenheimer boosted their target price on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Morgan Stanley increased their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Finally, Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $77.50.

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.