Stifel Financial Corp Has $1.20 Million Stock Position in SEI Investments (NASDAQ:SEIC)

Stifel Financial Corp lessened its holdings in SEI Investments (NASDAQ:SEIC) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,324 shares of the asset manager’s stock after selling 676 shares during the quarter. Stifel Financial Corp’s holdings in SEI Investments were worth $1,199,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SEIC. FMR LLC boosted its holdings in SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after buying an additional 222,631 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of SEI Investments in the second quarter valued at approximately $7,787,000. Verition Fund Management LLC grew its position in SEI Investments by 2,766.3% during the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after buying an additional 107,222 shares in the last quarter. Finally, Chevy Chase Trust Holdings LLC raised its holdings in SEI Investments by 211.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 79,690 shares of the asset manager’s stock valued at $5,514,000 after acquiring an additional 54,118 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SEIC. Keefe, Bruyette & Woods increased their target price on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday. Oppenheimer increased their price objective on shares of SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Piper Sandler boosted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley increased their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, SEI Investments currently has an average rating of “Hold” and an average target price of $80.75.

SEI Investments Stock Up 1.6 %

SEI Investments stock opened at $82.75 on Monday. The stock has a market cap of $10.67 billion, a PE ratio of 19.99, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 12-month low of $61.58 and a 12-month high of $87.25. The business’s 50-day moving average price is $79.45 and its two-hundred day moving average price is $71.22.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. As a group, analysts expect that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments Increases Dividend

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

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

Insider Activity

In other news, EVP Michael Peterson sold 25,000 shares of the company’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 value 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 $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of SEI Investments stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the sale, the chairman now owns 7,232,922 shares in the company, valued at approximately $616,461,942.06. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 239,258 shares of company stock worth $19,753,402. Insiders own 14.30% of the company’s stock.

About SEI Investments

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.