Pensionfund Sabic Grows Stock Holdings in SEI Investments (NASDAQ:SEIC)

Pensionfund Sabic boosted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 18.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,000 shares of the asset manager’s stock after purchasing an additional 3,000 shares during the period. Pensionfund Sabic’s holdings in SEI Investments were worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 52,042 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chairman now directly owns 7,232,922 shares of the company’s stock, valued at approximately $616,461,942.06. This represents a 0.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Michael Peterson sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 6,500 shares in the company, valued at $484,835. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 239,258 shares of company stock worth $19,753,402 in the last 90 days. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. 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. Finally, Morgan Stanley boosted 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. One 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 presently has an average rating of “Hold” and an average target price of $84.50.

SEI Investments Stock Performance

Shares of SEIC traded up $0.75 during mid-day trading on Monday, hitting $82.65. 57,645 shares of the company’s stock were exchanged, compared to its average volume of 381,808. The company has a market cap of $10.65 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.62 and a beta of 0.98. The stock’s 50-day moving average is $81.56 and its 200-day moving average is $72.51. SEI Investments has a fifty-two week low of $62.34 and a fifty-two week high of $87.25.

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

SEI Investments announced that its Board of Directors has approved a stock buyback program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

SEI Investments Increases Dividend

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

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.