SEI Investments (NASDAQ:SEIC) Shares Sold by Gries Financial LLC

Gries Financial LLC cut its stake in SEI Investments (NASDAQ:SEIC) by 1.9% in the fourth quarter, HoldingsChannel reports. The fund owned 30,413 shares of the asset manager’s stock after selling 598 shares during the period. Gries Financial LLC’s holdings in SEI Investments were worth $2,508,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. FMR LLC grew its position in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after buying an additional 632,024 shares during the period. Geode Capital Management LLC increased its position in shares of SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after buying an additional 300,704 shares in the last quarter. Portman Square Capital LLP lifted its position in shares of SEI Investments by 113.1% during the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock valued at $1,436,000 after buying an additional 149,840 shares in the last quarter. UMB Bank n.a. purchased a new stake in SEI Investments in the 4th quarter worth $9,096,000. Finally, Verition Fund Management LLC grew its position in shares of SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after purchasing an additional 107,222 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling

In other news, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at $514,410. This represents a 60.61 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,194 shares of company stock worth $15,769,472 in the last three months. 14.30% of the stock is currently owned by insiders.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $82.96 on Thursday. The business’s fifty day moving average price is $82.94 and its two-hundred day moving average price is $74.60. The company has a market capitalization of $10.69 billion, a P/E ratio of 20.04, a PEG ratio of 1.44 and a beta of 0.98. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. On average, research analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

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

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is 23.67%.

Analyst Ratings Changes

SEIC has been the subject of a number of research reports. Morgan Stanley upped their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Oppenheimer raised their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their price target on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $86.75.

SEI Investments Company 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.