Dorsey & Whitney Trust CO LLC Purchases New Shares in SEI Investments Company $SEIC

Dorsey & Whitney Trust CO LLC acquired a new stake in SEI Investments Company (NASDAQ:SEIC) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,497 shares of the asset manager’s stock, valued at approximately $224,000.

Several other hedge funds have also modified their holdings of the company. Cadence Bank grew its position in shares of SEI Investments by 1.2% during the 1st quarter. Cadence Bank now owns 10,551 shares of the asset manager’s stock valued at $819,000 after acquiring an additional 121 shares during the period. Ethic Inc. boosted its position in SEI Investments by 3.0% during the second quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after purchasing an additional 133 shares in the last quarter. Fifth Third Bancorp boosted its position in SEI Investments by 12.0% during the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after purchasing an additional 141 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in SEI Investments by 3.2% in the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after purchasing an additional 179 shares during the period. Finally, Clark Capital Management Group Inc. increased its position in shares of SEI Investments by 1.2% in the first quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock valued at $1,180,000 after buying an additional 183 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Trading Up 0.5%

Shares of SEIC stock opened at $78.81 on Friday. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. The stock’s fifty day moving average is $83.18 and its two-hundred day moving average is $85.89. The firm has a market capitalization of $9.65 billion, a P/E ratio of 14.49, a PEG ratio of 1.22 and a beta of 0.96.

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

SEI Investments declared that its board has authorized a share buyback program on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SEIC shares. Raymond James Financial upped their target price on SEI Investments from $118.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Keefe, Bruyette & Woods dropped their target price on shares of SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research report on Monday, October 13th. Finally, Piper Sandler cut their target price on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research note on Thursday, July 24th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and a consensus target price of $104.40.

Insider Activity

In other news, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $86.41, for a total value of $864,100.00. Following the completion of the sale, the director directly owned 16,042 shares in the company, valued at $1,386,189.22. This represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $85.66, for a total value of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares of the company’s stock, valued at approximately $6,479,408.06. This represents a 11.68% decrease in their position. The SEC filing for this sale provides additional information. 14.60% of the stock is currently owned by corporate insiders.

About SEI Investments

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.