SEI Investments Company $SEIC Shares Sold by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. lessened its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 33.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 277,462 shares of the asset manager’s stock after selling 139,743 shares during the quarter. Jupiter Asset Management Ltd. owned about 0.23% of SEI Investments worth $23,543,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Syon Capital LLC boosted its stake in SEI Investments by 11.3% during the 3rd quarter. Syon Capital LLC now owns 3,160 shares of the asset manager’s stock valued at $268,000 after purchasing an additional 320 shares in the last quarter. Ingalls & Snyder LLC lifted its holdings in shares of SEI Investments by 6.1% in the third quarter. Ingalls & Snyder LLC now owns 38,283 shares of the asset manager’s stock valued at $3,248,000 after buying an additional 2,198 shares during the period. M&G PLC bought a new position in SEI Investments during the third quarter valued at about $10,413,000. Vanguard Group Inc. grew its holdings in SEI Investments by 0.3% during the third quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after acquiring an additional 30,970 shares during the period. Finally, JPMorgan Chase & Co. raised its position in SEI Investments by 2.4% in the third quarter. JPMorgan Chase & Co. now owns 381,134 shares of the asset manager’s stock worth $32,339,000 after acquiring an additional 9,106 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. The trade was a 0.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of the stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the sale, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This trade represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.60% of the company’s stock.

SEI Investments Stock Up 1.0%

Shares of NASDAQ:SEIC opened at $81.39 on Friday. The firm has a 50 day simple moving average of $84.28 and a 200 day simple moving average of $84.32. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. The company has a market cap of $9.97 billion, a PE ratio of 14.46 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.04). The firm had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. SEI Investments’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $1.19 earnings per share. As a group, research analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

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

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were given 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 (DPR) is presently 18.47%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Piper Sandler reissued an “overweight” rating and set a $106.00 target price on shares of SEI Investments in a research note on Friday. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Keefe, Bruyette & Woods upped their price target on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, UBS Group began coverage on SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

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.