Royce & Associates LP Reduces Stock Holdings in SEI Investments Company $SEIC

Royce & Associates LP trimmed its position in SEI Investments Company (NASDAQ:SEIC) by 26.3% in the third quarter, HoldingsChannel reports. The firm owned 903,583 shares of the asset manager’s stock after selling 323,169 shares during the quarter. SEI Investments accounts for about 0.8% of Royce & Associates LP’s holdings, making the stock its 10th largest holding. Royce & Associates LP’s holdings in SEI Investments were worth $76,669,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Root Financial Partners LLC bought a new stake in SEI Investments during the third quarter worth $28,000. SJS Investment Consulting Inc. raised its stake in shares of SEI Investments by 142.9% during the 3rd quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock worth $30,000 after purchasing an additional 210 shares during the period. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments during the 2nd quarter worth $34,000. Addison Advisors LLC boosted its holdings in shares of SEI Investments by 117.6% in the 2nd quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock worth $41,000 after buying an additional 247 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Down 2.4%

Shares of SEIC stock opened at $81.32 on Friday. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 14.44 and a beta of 0.95. The company’s fifty day simple moving average is $84.10 and its two-hundred day simple moving average is $84.07. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20.

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

SEI Investments Dividend Announcement

The business also recently declared a dividend, which was paid on Monday, January 12th. Stockholders 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 dividend yield of 124.0%. SEI Investments’s dividend payout ratio is currently 18.47%.

Insider Transactions at SEI Investments

In other news, 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 transaction of $6,988,800.00. Following the completion of the sale, the chief executive officer owned 197,164 shares in the company, valued at approximately $17,224,247.04. This trade represents a 28.86% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $81.74, for a total transaction of $326,960.00. Following the completion of the transaction, the insider directly owned 921 shares of the company’s stock, valued at approximately $75,282.54. This represents a 81.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 108,770 shares of company stock valued at $9,318,910. 14.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on SEIC shares. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a research note on Monday, January 5th. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. UBS Group started coverage on SEI Investments in a report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective for the company. Morgan Stanley boosted their target price on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $106.00 price target on shares of SEI Investments in a research report on Friday, February 20th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.67.

SEI Investments 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.