BTS Asset Management Inc. Makes New Investment in SEI Investments (NASDAQ:SEIC)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geode Capital Management LLC raised its stake in SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after buying an additional 300,704 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after acquiring an additional 222,631 shares in the last quarter. FMR LLC lifted its stake in shares of SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in SEI Investments by 2.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after purchasing an additional 10,576 shares in the last quarter. Finally, Raymond James & Associates grew its stake in SEI Investments by 3.8% in the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after purchasing an additional 19,846 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling

In other news, EVP Michael Peterson sold 25,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the sale, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 of the company’s stock, valued at $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is owned by company insiders.

Analyst Ratings Changes

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

SEI Investments Trading Up 0.6 %

Shares of SEI Investments stock opened at $83.48 on Friday. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm’s 50 day simple moving average is $82.40 and its two-hundred day simple moving average is $73.52. The firm has a market capitalization of $10.76 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.34 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million during the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the business posted $0.87 EPS. On average, sell-side analysts predict that SEI Investments will post 4.42 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

SEI Investments Increases Dividend

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