Sanctuary Advisors LLC boosted its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 38.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,841 shares of the asset manager's stock after buying an additional 16,162 shares during the period. Sanctuary Advisors LLC's holdings in SEI Investments were worth $4,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments during the second quarter worth about $30,000. First Horizon Advisors Inc. grew its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after purchasing an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of SEI Investments in the third quarter worth $45,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 buying an additional 168 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts recently issued reports on the company. Morgan Stanley upped their target price on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research report on Thursday, October 24th. Oppenheimer raised their price objective on SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, Piper Sandler lifted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. 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, the stock presently has an average rating of "Hold" and a consensus price target of $77.50.
View Our Latest Research Report on SEI Investments
Shares of SEIC opened at $85.73 on Tuesday. The business's 50-day moving average is $78.49 and its two-hundred day moving average is $70.82. The company has a market capitalization 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 fifty-two week low of $61.58 and a fifty-two week high of $87.25.
SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period last year, the company earned $0.87 earnings per share. SEI Investments's revenue for the quarter was up 12.7% compared to the same quarter last year. Analysts forecast that SEI Investments will post 4.41 EPS for the current year.
The company also recently announced 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. This represents a dividend yield of 1.1%. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. The ex-dividend date is Friday, December 27th. SEI Investments's payout ratio is 23.67%.
SEI Investments announced that its Board of Directors has initiated a stock buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
In other SEI Investments news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $84.23, for a total value of $504,032.32. Following the sale, the chairman now directly owns 7,371,522 shares of the company's stock, valued at approximately $620,903,298.06. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Guarino sold 7,564 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $75.77, for a total value of $573,124.28. Following the transaction, the director now directly owns 13,867 shares of the company's stock, valued at approximately $1,050,702.59. The trade was a 35.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,058 shares of company stock worth $7,245,697 in the last three months. Company insiders own 14.30% of the company's stock.
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.
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