GAMMA Investing LLC Buys 1,509 Shares of SEI Investments (NASDAQ:SEIC)

GAMMA Investing LLC grew its holdings in SEI Investments (NASDAQ:SEIC) by 44.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,869 shares of the asset manager’s stock after purchasing an additional 1,509 shares during the quarter. GAMMA Investing LLC’s holdings in SEI Investments were worth $402,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SEIC. FMR LLC raised its stake in SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares during the period. Geode Capital Management LLC lifted its holdings in SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares in the last quarter. Jupiter Asset Management Ltd. bought a new position in SEI Investments during the 2nd quarter worth $7,787,000. Finally, Verition Fund Management LLC increased its holdings in SEI Investments by 2,766.3% in the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after buying an additional 107,222 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SEIC. Morgan Stanley raised their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday. Keefe, Bruyette & Woods increased 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 note on Friday, December 20th. Oppenheimer boosted their target price on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $84.50.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 94,158 shares of the firm’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the transaction, the chairman now directly owns 7,284,964 shares in the company, valued at $624,539,963.72. This trade represents a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares of the company’s stock, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 239,258 shares of company stock valued at $19,753,402 in the last ninety days. Company insiders own 14.30% of the company’s stock.

SEI Investments Trading Down 0.0 %

Shares of SEIC stock opened at $81.90 on Monday. The firm’s 50 day moving average is $81.56 and its 200 day moving average is $72.51. SEI Investments has a 12 month low of $61.58 and a 12 month high of $87.25. The stock has a market capitalization of $10.56 billion, a P/E ratio of 19.78, a PEG ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share 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 firm had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter in the prior year, the firm posted $0.87 earnings per share. The business’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities analysts predict that SEI Investments will post 4.41 EPS for the current 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 $0.49 dividend. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date is Friday, December 27th. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio is 23.67%.

SEI Investments declared that its board has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its shares are undervalued.

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.