Certuity LLC Has $461,000 Stake in SEI Investments (NASDAQ:SEIC)

Certuity LLC lessened its stake in shares of SEI Investments (NASDAQ:SEIC) by 3.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 5,585 shares of the asset manager’s stock after selling 176 shares during the period. Certuity LLC’s holdings in SEI Investments were worth $461,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Boston Trust Walden Corp increased its stake in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares in the last quarter. Longboard Asset Management LP bought a new stake in SEI Investments in the 4th quarter valued at about $267,000. CHURCHILL MANAGEMENT Corp acquired a new position in SEI Investments during the 4th quarter worth approximately $1,818,000. Lecap Asset Management Ltd. acquired a new position in SEI Investments during the 4th quarter worth approximately $480,000. Finally, BTS Asset Management Inc. bought a new position in SEI Investments in the fourth quarter worth approximately $253,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Price Performance

Shares of SEIC stock opened at $82.05 on Thursday. The firm has a 50-day moving average of $83.58 and a 200-day moving average of $75.86. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company has a market cap of $10.58 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 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 25.51%. As a group, research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.

SEI Investments Increases Dividend

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

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were 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 directly owns 7,371,522 shares of the company’s stock, valued at $620,903,298.06. This represents a 0.08 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 171,194 shares of company stock worth $14,579,872 in the last quarter. 14.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SEIC shares. Oppenheimer boosted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Finally, Piper Sandler raised their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $90.00.

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.