SEI Investments (NASDAQ:SEIC) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC raised its stake in shares of SEI Investments (NASDAQ:SEIC) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,472 shares of the asset manager’s stock after acquiring an additional 377 shares during the period. MML Investors Services LLC’s holdings in SEI Investments were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted its holdings in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Fairfield Financial Advisors LTD acquired a new stake in SEI Investments in the second quarter valued at about $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd acquired a new position in SEI Investments during the 3rd quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after buying an additional 168 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Morgan Stanley lifted their price target on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Piper Sandler increased their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday. Finally, Oppenheimer boosted their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $83.25.

SEI Investments Stock Performance

SEIC opened at $84.53 on Friday. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 20.42, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a one year low of $61.58 and a one year high of $87.25. The business’s fifty day moving average is $80.41 and its two-hundred day moving average is $71.68.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, analysts predict that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th will be paid a dividend of $0.49 per share. This represents a dividend yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend is Friday, December 27th. SEI Investments’s dividend payout ratio (DPR) is 23.67%.

SEI Investments announced that its board has initiated a stock repurchase program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of SEI Investments stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the sale, the chairman now owns 7,377,506 shares of the company’s stock, valued at approximately $608,570,469.94. This trade represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 239,258 shares of company stock worth $19,753,402 in the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Company 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.