abrdn plc trimmed its position in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 4.7% during the first quarter, Holdings Channel reports. The firm owned 9,249 shares of the asset manager’s stock after selling 459 shares during the quarter. abrdn plc’s holdings in SEI Investments were worth $566,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Artemis Wealth Advisors LLC purchased a new stake in shares of SEI Investments during the first quarter worth $40,000. UMB Bank N A MO purchased a new stake in shares of SEI Investments during the fourth quarter worth $52,000. Lazard Asset Management LLC increased its position in shares of SEI Investments by 114.4% during the fourth quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager’s stock worth $53,000 after acquiring an additional 469 shares during the period. Covestor Ltd purchased a new stake in shares of SEI Investments during the fourth quarter worth $60,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of SEI Investments during the first quarter worth $60,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at SEI Investments
In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $55.15, for a total value of $1,930,250.00. Following the completion of the transaction, the insider now owns 576,663 shares in the company, valued at $31,802,964.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 25.40% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on SEIC. The Goldman Sachs Group cut their price objective on SEI Investments to $58.00 in a research report on Friday, July 22nd. Keefe, Bruyette & Woods cut their price objective on SEI Investments from $62.00 to $55.00 in a research report on Thursday, July 14th. Piper Sandler dropped their target price on SEI Investments to $61.00 and set an “outperform” rating on the stock in a report on Wednesday, July 27th. Morgan Stanley dropped their target price on SEI Investments from $55.00 to $52.00 and set an “underweight” rating on the stock in a report on Thursday, July 21st. Finally, StockNews.com lowered SEI Investments from a “buy” rating to a “hold” rating in a report on Friday, July 22nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average target price of $60.50.
SEI Investments Price Performance
NASDAQ SEIC opened at $56.02 on Thursday. SEI Investments has a 1 year low of $51.07 and a 1 year high of $65.22. The company has a market capitalization of $7.59 billion, a PE ratio of 13.43, a P/E/G ratio of 1.24 and a beta of 0.99. The company has a fifty day moving average of $54.74 and a two-hundred day moving average of $56.92.
SEI Investments (NASDAQ:SEIC – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.83 by ($0.02). SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The company had revenue of $481.67 million during the quarter, compared to analyst estimates of $472.18 million. During the same quarter in the prior year, the company earned $0.93 EPS. The business’s revenue was up 1.3% on a year-over-year basis. On average, research analysts expect that SEI Investments will post 3.71 earnings per share for the current year.
SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Wednesday, June 1st that allows the company to buyback $200.00 million in shares. This buyback authorization allows the asset manager to buy up to 2.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
SEI Investments Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.86%. The ex-dividend date was Friday, June 10th. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. SEI Investments’s dividend payout ratio is currently 19.18%.
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.
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