SEI Investments (NASDAQ:SEIC) Shares Bought by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 6.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,903 shares of the asset manager’s stock after purchasing an additional 366 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in SEI Investments were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of SEI Investments by 60.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock valued at $1,386,000 after purchasing an additional 8,094 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its position in shares of SEI Investments by 12.1% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock worth $4,925,000 after buying an additional 8,243 shares during the period. Portfolio Design Labs LLC acquired a new position in SEI Investments in the third quarter valued at $1,701,000. Quantinno Capital Management LP grew its position in SEI Investments by 56.7% during the third quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock valued at $1,217,000 after acquiring an additional 6,364 shares during the period. Finally, JPMorgan Chase & Co. grew its position in SEI Investments by 13.6% during the third quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager’s stock valued at $35,143,000 after acquiring an additional 60,824 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 3.0 %

SEIC opened at $79.00 on Friday. The firm’s 50 day moving average is $82.02 and its 200-day moving average is $72.85. SEI Investments has a 52-week low of $62.34 and a 52-week high of $87.25. The firm has a market capitalization of $10.18 billion, a P/E ratio of 19.08, a P/E/G 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 (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.87 EPS. Equities analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

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

SEI Investments announced that its Board of Directors has authorized a share buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Morgan Stanley upped their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $86.75.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the sale, the chairman now owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Michael Peterson sold 25,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This trade represents 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 worth $19,753,402 in the last three months. 14.30% of the stock is owned by insiders.

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.