Rhumbline Advisers Has $27.68 Million Holdings in SEI Investments Company $SEIC

Rhumbline Advisers increased its holdings in SEI Investments Company (NASDAQ:SEIC) by 3.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 326,240 shares of the asset manager’s stock after buying an additional 9,859 shares during the period. Rhumbline Advisers’ holdings in SEI Investments were worth $27,681,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Loomis Sayles & Co. L P raised its holdings in SEI Investments by 1.4% in 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 acquiring an additional 121,198 shares in the last quarter. Bank of America Corp DE raised its stake in SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after purchasing an additional 133,057 shares in the last quarter. First Trust Advisors LP lifted its position in SEI Investments by 9.1% during the second quarter. First Trust Advisors LP now owns 1,727,334 shares of the asset manager’s stock worth $155,218,000 after purchasing an additional 144,789 shares during the period. Azora Capital LP grew its stake in SEI Investments by 109.3% during the second quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock worth $69,907,000 after buying an additional 406,287 shares in the last quarter. Finally, Norges Bank bought a new position in SEI Investments in the 2nd quarter valued at about $55,685,000. 70.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction 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 completion of the sale, the chairman directly owned 6,942,812 shares in the company, valued at $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $87.36, for a total value of $6,988,800.00. Following the transaction, the chief executive officer directly owned 197,164 shares in the company, valued at $17,224,247.04. The trade was a 28.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SEIC. Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. UBS Group started coverage on SEI Investments in a research note on Wednesday, February 4th. They set a “buy” rating and a $115.00 target price for the company. Morgan Stanley lifted their price target on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Piper Sandler boosted their price target on SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a research note on Monday, January 5th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $110.17.

SEI Investments Trading Up 1.7%

NASDAQ SEIC opened at $78.63 on Monday. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 13.97 and a beta of 0.95. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average is $84.50 and its 200 day moving average is $84.54.

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

SEI Investments declared that its board has approved a share buyback program on Friday, October 24th that authorizes the company to repurchase $650.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, January 12th. Investors 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 currently 18.47%.

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.