BTS Asset Management Inc. Acquires New Stake in SEI Investments (NASDAQ:SEIC)

BTS Asset Management Inc. acquired a new stake in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,073 shares of the asset manager’s stock, valued at approximately $253,000.

A number of other large investors have also bought and sold shares of the company. Aurora Investment Counsel grew its position in SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock worth $1,741,000 after acquiring an additional 144 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares in the last quarter. Creative Planning increased its position in shares of SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after purchasing an additional 182 shares during the last quarter. Procyon Advisors LLC raised its holdings in shares of SEI Investments by 0.5% during the 4th quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager’s stock valued at $2,936,000 after buying an additional 187 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its position in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction dated 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 transaction, the chairman now directly owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 239,258 shares of company stock valued at $19,753,402. Corporate insiders own 14.30% of the company’s stock.

Analyst Ratings Changes

SEIC has been the topic of a number of recent research reports. Piper Sandler increased their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Oppenheimer lifted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Morgan Stanley lifted their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $86.75.

SEI Investments Trading Up 0.6 %

Shares of NASDAQ:SEIC opened at $83.48 on Friday. The company has a 50-day moving average price of $82.40 and a 200-day moving average price of $73.52. The company has a market cap of $10.76 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.34 and a beta of 0.98. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its 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. The company had revenue of $537.40 million during 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%. SEI Investments’s quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.87 EPS. As a group, research analysts forecast that SEI Investments will post 4.42 EPS for the current fiscal year.

SEI Investments announced that its board has authorized a share repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

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