Precision Wealth Strategies LLC Makes New Investment in SEI Investments Company $SEIC

Precision Wealth Strategies LLC acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 5,792 shares of the asset manager’s stock, valued at approximately $491,000.

Several other hedge funds have also made changes to their positions in the stock. CoreFirst Bank & Trust bought a new position in SEI Investments during the second quarter valued at about $34,000. Addison Advisors LLC increased its position in shares of SEI Investments by 117.6% during the second quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 247 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in SEI Investments in the second quarter worth $45,000. Finally, Thurston Springer Miller Herd & Titak Inc. boosted its stake in SEI Investments by 252.1% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 507 shares of the asset manager’s stock worth $46,000 after buying an additional 363 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

NASDAQ SEIC opened at $86.50 on Friday. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The company has a 50 day moving average of $81.82 and a 200-day moving average of $85.59. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The firm has a market cap of $10.59 billion, a price-to-earnings ratio of 15.90 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. During the same period in the previous year, the business earned $1.19 EPS. SEI Investments’s revenue was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Friday, October 24th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be issued a dividend of $0.52 per share. This represents a dividend yield of 125.0%. The ex-dividend date is Monday, December 29th. SEI Investments’s dividend payout ratio is presently 18.01%.

Insider Transactions at SEI Investments

In related news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the transaction, the director directly owned 75,641 shares of the company’s stock, valued at $6,479,408.06. The trade was a 11.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the sale, the chairman directly owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 14.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SEIC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $93.00 to $97.00 in a report on Tuesday, December 16th. Piper Sandler upgraded shares of SEI Investments from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $93.00 to $102.00 in a research note on Tuesday. Raymond James Financial upped their price objective on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Morgan Stanley boosted their price target on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and an average target price of $107.00.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.