SEI Investments (NASDAQ:SEIC) Shares Sold by RK Asset Management LLC

RK Asset Management LLC reduced its stake in SEI Investments (NASDAQ:SEIC) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 70,559 shares of the asset manager’s stock after selling 2,606 shares during the period. SEI Investments accounts for approximately 4.8% of RK Asset Management LLC’s investment portfolio, making the stock its 9th biggest position. RK Asset Management LLC owned approximately 0.05% of SEI Investments worth $5,820,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Texas Permanent School Fund Corp raised its stake in SEI Investments by 9.6% in the 2nd quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock worth $6,187,000 after purchasing an additional 8,387 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of SEI Investments by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock worth $1,386,000 after purchasing an additional 8,094 shares during the period. Meiji Yasuda Asset Management Co Ltd. boosted its stake in shares of SEI Investments by 12.1% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock valued at $4,925,000 after buying an additional 8,243 shares during the period. Portfolio Design Labs LLC acquired a new stake in SEI Investments during the third quarter worth approximately $1,701,000. Finally, Quantinno Capital Management LP increased its stake in SEI Investments by 56.7% during the 3rd quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock worth $1,217,000 after acquiring an additional 6,364 shares during the period. 70.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SEIC shares. Morgan Stanley upped their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday. Oppenheimer increased their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Piper Sandler raised their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, SEI Investments presently has an average rating of “Hold” and an average price target of $84.50.

SEI Investments Stock Down 0.0 %

Shares of SEIC stock traded down $0.02 during trading hours on Friday, hitting $81.90. 542,046 shares of the company’s stock traded hands, compared to its average volume of 556,223. SEI Investments has a 12 month low of $61.58 and a 12 month high of $87.25. The stock has a market cap of $10.56 billion, a PE ratio of 19.78, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The stock’s 50 day simple moving average is $81.43 and its 200 day simple moving average is $72.30.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, equities research analysts expect that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.49 per share. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a yield of 1.1%. The ex-dividend date of this dividend is Friday, December 27th. SEI Investments’s dividend payout ratio (DPR) is presently 23.67%.

SEI Investments announced that its board has initiated a stock buyback program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now directly owns 1,577,652 shares in the company, valued at $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at $484,835. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 239,258 shares of company stock valued at $19,753,402. Corporate insiders own 14.30% of the company’s stock.

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.