TrueWealth Advisors LLC Purchases Shares of 2,640 SEI Investments (NASDAQ:SEIC)

TrueWealth Advisors LLC acquired a new position in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,640 shares of the asset manager’s stock, valued at approximately $218,000.

Other institutional investors also recently modified their holdings of the company. Aurora Investment Counsel increased its holdings in SEI Investments by 0.6% during the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after purchasing an additional 144 shares during the period. Northwestern Mutual Wealth Management Co. grew its position 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 buying an additional 168 shares during the last quarter. Creative Planning increased its stake in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after buying an additional 182 shares during the period. Procyon Advisors LLC raised its holdings in shares of SEI Investments by 0.5% during the fourth quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager’s stock valued at $2,936,000 after acquiring an additional 187 shares in the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after acquiring an additional 232 shares during the period. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Price Performance

NASDAQ:SEIC opened at $83.48 on Friday. The firm has a market capitalization of $10.76 billion, a P/E ratio of 20.16, a PEG ratio of 1.34 and a beta of 0.98. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company’s 50-day simple moving average is $82.40 and its 200 day simple moving average is $73.58.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, topping 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 firm had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. During the same period in the previous year, the firm posted $0.87 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, equities research analysts expect that SEI Investments will post 4.42 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a share repurchase program 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 programs are usually a sign that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. 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. This represents a dividend yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is presently 23.67%.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the transaction, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. The trade was a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl Guarino sold 7,564 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total value of $573,124.28. Following the sale, the director now owns 13,867 shares in the company, valued at approximately $1,050,702.59. This represents a 35.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 239,258 shares of company stock valued at $19,753,402 in the last quarter. 14.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on the stock. Piper Sandler upped their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods increased their price target 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. Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley increased their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.75.

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.