Sequoia Financial Advisors LLC Lowers Position in SEI Investments Company $SEIC

Sequoia Financial Advisors LLC lowered its holdings in SEI Investments Company (NASDAQ:SEIC) by 25.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 15,816 shares of the asset manager’s stock after selling 5,407 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in SEI Investments were worth $1,241,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SEIC. Peterson Wealth Services lifted its stake in SEI Investments by 26.2% during the first quarter. Peterson Wealth Services now owns 2,213 shares of the asset manager’s stock worth $174,000 after purchasing an additional 460 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of SEI Investments by 2.7% during the first quarter. Oregon Public Employees Retirement Fund now owns 19,086 shares of the asset manager’s stock valued at $1,498,000 after purchasing an additional 500 shares during the period. Kathmere Capital Management LLC boosted its position in SEI Investments by 7.0% during the 1st quarter. Kathmere Capital Management LLC now owns 99,485 shares of the asset manager’s stock valued at $7,807,000 after buying an additional 6,551 shares during the period. NBT Bank N A NY boosted its holdings in shares of SEI Investments by 3,657.3% during the first quarter. NBT Bank N A NY now owns 3,081 shares of the asset manager’s stock worth $242,000 after purchasing an additional 2,999 shares during the period. Finally, QRG Capital Management Inc. grew its position in shares of SEI Investments by 15.5% in the 1st quarter. QRG Capital Management Inc. now owns 3,880 shares of the asset manager’s stock worth $304,000 after buying an additional 521 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Performance

NASDAQ SEIC opened at $100.26 on Friday. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $100.28. The business has a 50-day moving average price of $90.88 and a 200-day moving average price of $85.50. The firm has a market cap of $12.06 billion, a price-to-earnings ratio of 17.11 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping the consensus estimate of $1.29 by $0.15. The firm had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.17 earnings per share. As a group, equities research analysts predict that SEI Investments Company will post 5.98 EPS for the current fiscal year.

SEI Investments Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SEIC shares. Morgan Stanley lifted their target price on shares of SEI Investments from $113.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Piper Sandler increased their target price on SEI Investments from $105.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $107.00 to $113.00 and gave the stock an “outperform” rating in a report on Friday, July 10th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Finally, Raymond James Financial increased their price target on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $116.20.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 4,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the sale, the insider owned 921 shares in the company, valued at approximately $83,958.36. This represents a 81.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the sale, the chairman directly owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. This represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 111,332 shares of company stock worth $9,908,883. Insiders own 4.80% of the company’s stock.

SEI Investments 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.