Wilmington Savings Fund Society FSB Makes New $374,000 Investment in SEI Investments (NASDAQ:SEIC)

Wilmington Savings Fund Society FSB acquired a new stake in shares of SEI Investments (NASDAQ:SEIC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 5,410 shares of the asset manager’s stock, valued at approximately $374,000.

A number of other institutional investors have also recently made changes to their positions in SEIC. Sanctuary Advisors LLC lifted its position in shares of SEI Investments by 38.8% in the third quarter. Sanctuary Advisors LLC now owns 57,841 shares of the asset manager’s stock worth $4,002,000 after buying an additional 16,162 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of SEI Investments by 10.2% during the 3rd quarter. Toronto Dominion Bank now owns 40,991 shares of the asset manager’s stock worth $2,836,000 after acquiring an additional 3,784 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of 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 valued at $174,092,000 after acquiring an additional 300,704 shares during the last quarter. Foyston Gordon & Payne Inc grew its holdings in shares of SEI Investments by 48.0% in the third quarter. Foyston Gordon & Payne Inc now owns 121,503 shares of the asset manager’s stock valued at $8,305,000 after purchasing an additional 39,401 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in SEI Investments by 24.3% in the third quarter. Nomura Asset Management Co. Ltd. now owns 51,748 shares of the asset manager’s stock worth $3,580,000 after purchasing an additional 10,100 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of the 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares in the company, valued at $11,055,914.10. The trade was a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,058 shares of company stock valued at $7,245,697 in the last quarter. 14.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on SEIC. Piper Sandler increased their price objective 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. Morgan Stanley upped their target price on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research report on Thursday, October 24th. Finally, Oppenheimer lifted their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and an average price target of $77.50.

SEI Investments Trading Down 0.1 %

Shares of SEIC opened at $85.73 on Tuesday. The company’s fifty day simple moving average is $78.49 and its 200-day simple moving average is $70.82. The company has a market cap of $11.05 billion, a P/E ratio of 20.71, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a twelve month low of $61.58 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 12.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.87 EPS. Analysts predict that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its board has authorized a stock repurchase plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits 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 board of directors believes its stock is undervalued.

SEI Investments Increases Dividend

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

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.