Pacer Advisors Inc. Buys 7,090 Shares of SEI Investments Company $SEIC

Pacer Advisors Inc. raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 76.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,314 shares of the asset manager’s stock after purchasing an additional 7,090 shares during the quarter. Pacer Advisors Inc.’s holdings in SEI Investments were worth $1,384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Loomis Sayles & Co. L P boosted its holdings in shares of 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 worth $794,475,000 after buying an additional 121,198 shares during the period. Bank of America Corp DE lifted its position in SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after acquiring an additional 133,057 shares during the last quarter. First Trust Advisors LP boosted its holdings 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 valued at $155,218,000 after acquiring an additional 144,789 shares during the period. Boston Trust Walden Corp grew its position in shares of 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 purchasing an additional 44,195 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of SEI Investments by 6.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock worth $62,186,000 after purchasing an additional 45,019 shares during the period. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

SEIC opened at $82.02 on Friday. The stock’s 50 day simple moving average is $81.99 and its 200-day simple moving average is $85.57. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The stock has a market cap of $10.04 billion, a PE ratio of 15.08 and a beta of 0.98. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96.

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

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be given a dividend of $0.52 per share. This represents a dividend yield of 124.0%. The ex-dividend date is Monday, December 29th. SEI Investments’s payout ratio is 19.12%.

SEI Investments declared that its board has approved a stock buyback program on Friday, October 24th that authorizes the company to buyback $650.00 million in shares. This buyback authorization authorizes the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Piper Sandler raised SEI Investments from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $93.00 to $102.00 in a research report on Tuesday, December 23rd. Keefe, Bruyette & Woods upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $93.00 to $97.00 in a research note on Tuesday, December 16th. Raymond James Financial upped their target price on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.00.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the transaction, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. This trade represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.60% of the stock is currently owned by insiders.

About SEI Investments

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.