Vest Financial LLC Has $5.31 Million Stock Position in SEI Investments Company $SEIC

Vest Financial LLC increased its position in shares of SEI Investments Company (NASDAQ:SEIC) by 15.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,543 shares of the asset manager’s stock after acquiring an additional 8,217 shares during the quarter. Vest Financial LLC owned about 0.05% of SEI Investments worth $5,307,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P lifted its position in SEI Investments by 1.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager’s stock valued at $794,475,000 after purchasing an additional 121,198 shares during the period. Bank of America Corp DE raised its stake in shares of SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after buying an additional 133,057 shares during the last quarter. First Trust Advisors LP lifted its holdings in SEI Investments by 9.1% in the second quarter. First Trust Advisors LP now owns 1,727,334 shares of the asset manager’s stock valued at $155,218,000 after buying an additional 144,789 shares during the period. Boston Trust Walden Corp boosted its stake in SEI Investments by 3.3% in the second quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager’s stock valued at $123,079,000 after acquiring an additional 44,195 shares during the last quarter. Finally, Azora Capital LP grew its holdings in SEI Investments by 109.3% during the 2nd quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock worth $69,907,000 after acquiring an additional 406,287 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the sale, the chairman owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This trade represents a 0.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 14.60% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $85.97 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The company’s 50 day moving average price is $83.08 and its two-hundred day moving average price is $85.40. The company has a market capitalization of $10.53 billion, a P/E ratio of 15.80 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The company had revenue of $578.51 million during the quarter, compared to the consensus estimate of $578.75 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The firm’s revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a stock repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

SEI Investments Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were issued a dividend of $0.52 per share. The ex-dividend date was Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is presently 19.12%.

Wall Street Analysts Forecast Growth

SEIC has been the topic of several recent research reports. Morgan Stanley raised their price target on SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Piper Sandler upgraded SEI Investments from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $93.00 to $102.00 in a research report on Tuesday, December 23rd. 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 research note on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a research note on Monday, January 5th. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and an average price target of $107.80.

SEI Investments Company 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.