Hussman Strategic Advisors Inc. Buys New Stake in SEI Investments Company $SEIC

Hussman Strategic Advisors Inc. purchased a new position in shares of SEI Investments Company (NASDAQ:SEIC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 21,000 shares of the asset manager’s stock, valued at approximately $1,782,000.

Other institutional investors also recently made changes to their positions in the company. Ethic Inc. boosted its stake in shares of SEI Investments by 3.0% during the second quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock valued at $403,000 after acquiring an additional 133 shares during the last quarter. Fifth Third Bancorp lifted its holdings in SEI Investments by 12.0% in the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after purchasing an additional 141 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in SEI Investments by 3.2% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after purchasing an additional 179 shares in the last quarter. WealthCollab LLC boosted its stake in shares of SEI Investments by 33.7% during the 2nd quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock worth $69,000 after purchasing an additional 193 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Trading Down 0.8%

SEIC stock opened at $84.64 on Wednesday. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 15.56 and a beta of 0.97. The business has a fifty day simple moving average of $83.49 and a 200-day simple moving average of $85.14. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments declared that its Board of Directors has authorized a share repurchase plan on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, December 29th. This represents a yield of 124.0%. SEI Investments’s dividend payout ratio is currently 19.12%.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares in the company, valued at $561,465,206.44. This trade represents a 0.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 14.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SEIC has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a report on Monday, January 5th. Piper Sandler raised SEI Investments from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $93.00 to $102.00 in a research note on Tuesday, December 23rd. Keefe, Bruyette & Woods raised their price objective on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Finally, Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $107.80.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.