Diversified Trust Co Lowers Stock Position in SEI Investments (NASDAQ:SEIC)

Diversified Trust Co decreased its holdings in SEI Investments (NASDAQ:SEIC) by 2.2% in the 1st quarter, Holdings Channel reports. The firm owned 54,010 shares of the asset manager’s stock after selling 1,220 shares during the period. Diversified Trust Co’s holdings in SEI Investments were worth $3,883,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of SEIC. Norges Bank purchased a new position in SEI Investments in the 4th quarter valued at $32,161,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in SEI Investments during the fourth quarter worth about $6,990,000. FMR LLC lifted its position in SEI Investments by 43.8% in the third quarter. FMR LLC now owns 360,732 shares of the asset manager’s stock valued at $21,727,000 after purchasing an additional 109,962 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its holdings in SEI Investments by 97.0% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 210,128 shares of the asset manager’s stock valued at $12,656,000 after purchasing an additional 103,468 shares in the last quarter. Finally, Power Corp of Canada acquired a new position in SEI Investments during the 4th quarter worth approximately $5,649,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 70,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $68.62, for a total value of $4,803,400.00. Following the completion of the transaction, the chairman now directly owns 7,795,471 shares in the company, valued at $534,925,220.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Alfred P. West, Jr. sold 70,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $68.62, for a total value of $4,803,400.00. Following the completion of the sale, the chairman now directly owns 7,795,471 shares of the company’s stock, valued at $534,925,220.02. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director William Doran sold 5,000 shares of SEI Investments stock in a transaction on Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Insiders have sold 123,000 shares of company stock worth $8,406,920 over the last 90 days. Company insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Oppenheimer raised their price target on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $74.00 price target (up previously from $72.00) on shares of SEI Investments in a report on Thursday, April 25th. Finally, Piper Sandler decreased their price objective on shares of SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.00.

SEI Investments Stock Performance

SEI Investments stock traded down $0.38 during trading on Monday, hitting $64.31. The company’s stock had a trading volume of 148,698 shares, compared to its average volume of 574,866. SEI Investments has a 1-year low of $52.19 and a 1-year high of $72.54. The stock’s fifty day moving average is $66.75 and its 200 day moving average is $66.56. The stock has a market capitalization of $8.45 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 1.30 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. The company had revenue of $511.58 million during the quarter, compared to the consensus estimate of $510.41 million. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. SEI Investments’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.79 earnings per share. On average, research analysts anticipate that SEI Investments will post 4.14 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were given a dividend of $0.46 per share. The ex-dividend date was Monday, June 10th. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 2.86%. SEI Investments’s payout ratio is 25.14%.

SEI Investments 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.