Strs Ohio Reduces Stock Position in SEI Investments Company $SEIC

Strs Ohio lessened its stake in SEI Investments Company (NASDAQ:SEIC) by 91.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,487 shares of the asset manager’s stock after selling 27,924 shares during the quarter. Strs Ohio’s holdings in SEI Investments were worth $211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Outlook Wealth Advisors LLC purchased a new position in shares of SEI Investments during the 3rd quarter worth $251,000. Simplicity Wealth LLC acquired a new stake in SEI Investments during the third quarter worth about $210,000. Universal Beteiligungs und Servicegesellschaft mbH raised its stake in SEI Investments by 22.5% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 72,953 shares of the asset manager’s stock worth $6,190,000 after purchasing an additional 13,423 shares during the period. Vest Financial LLC boosted its holdings in SEI Investments by 15.1% in the 3rd quarter. Vest Financial LLC now owns 62,543 shares of the asset manager’s stock valued at $5,307,000 after purchasing an additional 8,217 shares during the last quarter. Finally, Inscription Capital LLC purchased a new stake in shares of SEI Investments in the 3rd quarter valued at approximately $569,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the company’s stock in a transaction on 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 owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the transaction, the chief executive officer owned 197,164 shares of the company’s stock, valued at approximately $17,224,247.04. This trade represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

SEIC opened at $88.69 on Tuesday. The stock’s 50-day moving average price is $84.17 and its 200 day moving average price is $85.01. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 15.75 and a beta of 0.95. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The company had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. During the same period in the prior year, the firm earned $1.19 earnings per share. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. As a group, sell-side analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a stock repurchase plan on Friday, October 24th that allows the company to repurchase $650.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

SEI Investments Announces Dividend

The firm also recently declared a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were given a $0.52 dividend. This represents a yield of 124.0%. The ex-dividend date of this dividend was Monday, December 29th. SEI Investments’s dividend payout ratio (DPR) is currently 18.47%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Keefe, Bruyette & Woods lifted their price target on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, January 8th. Piper Sandler lifted their target price on SEI Investments from $102.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Raymond James Financial reissued an “outperform” rating and set a $117.00 price objective on shares of SEI Investments in a research report on Monday, January 5th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $109.20.

About SEI Investments

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.