Janney Montgomery Scott LLC Sells 16,003 Shares of SEI Investments Company $SEIC

Janney Montgomery Scott LLC cut its stake in SEI Investments Company (NASDAQ:SEIC) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 132,908 shares of the asset manager’s stock after selling 16,003 shares during the period. Janney Montgomery Scott LLC’s holdings in SEI Investments were worth $10,429,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SEIC. Community Bank N.A. acquired a new position in shares of SEI Investments in the 3rd quarter worth approximately $35,000. Allworth Financial LP boosted its stake in shares of SEI Investments by 44.0% in the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 339 shares during the period. Geneos Wealth Management Inc. raised its stake in 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 during the last quarter. Finally, Rothschild Investment LLC raised its stake in SEI Investments by 266.9% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock worth $46,000 after buying an additional 411 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In related news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the sale, the director owned 77,883 shares in the company, valued at $7,092,804.81. This represents a 11.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 111,332 shares of company stock valued at $9,908,883. 4.80% of the stock is currently owned by insiders.

SEI Investments Stock Up 1.5%

SEIC stock opened at $91.43 on Friday. The stock’s 50 day simple moving average is $89.76 and its 200 day simple moving average is $84.70. The company has a market cap of $11.00 billion, a P/E ratio of 15.60 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $93.96.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The company’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 earnings per share. On average, research analysts expect that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a dividend of $0.52 per share. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s payout ratio is 17.75%.

Analysts Set New Price Targets

A number of brokerages have commented on SEIC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Piper Sandler reissued an “overweight” rating and issued a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective on shares of SEI Investments in a research note on Wednesday, April 29th. Morgan Stanley cut their target price on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods lifted their target price on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

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.