SEI Investments (NASDAQ:SEIC) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise trimmed its holdings in shares of SEI Investments (NASDAQ:SEICGet Rating) by 91.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,416 shares of the asset manager’s stock after selling 16,100 shares during the period. Banque Cantonale Vaudoise’s holdings in SEI Investments were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Congress Asset Management Co. MA lifted its holdings in SEI Investments by 4.6% during the 1st quarter. Congress Asset Management Co. MA now owns 4,443 shares of the asset manager’s stock worth $268,000 after buying an additional 194 shares during the last quarter. Commerce Bank lifted its holdings in SEI Investments by 2.2% during the 4th quarter. Commerce Bank now owns 11,386 shares of the asset manager’s stock worth $694,000 after buying an additional 240 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of SEI Investments by 2.6% in the 1st quarter. Fisher Asset Management LLC now owns 9,633 shares of the asset manager’s stock valued at $580,000 after purchasing an additional 241 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of SEI Investments by 23.6% in the 1st quarter. Fifth Third Bancorp now owns 1,445 shares of the asset manager’s stock valued at $87,000 after purchasing an additional 276 shares during the last quarter. Finally, Nissay Asset Management Corp Japan ADV lifted its holdings in shares of SEI Investments by 2.0% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 14,308 shares of the asset manager’s stock valued at $872,000 after purchasing an additional 280 shares during the last quarter. 70.44% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Price Performance

SEIC opened at $57.03 on Thursday. The stock has a market cap of $7.73 billion, a P/E ratio of 13.68, a P/E/G ratio of 1.24 and a beta of 0.99. The stock’s 50 day simple moving average is $54.53 and its 200 day simple moving average is $56.77. SEI Investments has a 1-year low of $51.07 and a 1-year high of $65.22.

SEI Investments (NASDAQ:SEICGet Rating) last announced its earnings results on Wednesday, July 20th. The asset manager reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The company had revenue of $481.67 million for the quarter, compared to analyst estimates of $472.18 million. SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. SEI Investments’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.93 EPS. Research analysts expect that SEI Investments will post 3.73 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date was Friday, June 10th. This is a boost from SEI Investments’s previous quarterly dividend of $0.37. SEI Investments’s dividend payout ratio is 19.18%.

SEI Investments declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 1st that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 2.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several analysts have recently weighed in on SEIC shares. Keefe, Bruyette & Woods reduced their target price on SEI Investments from $62.00 to $55.00 in a report on Thursday, July 14th. Morgan Stanley reduced their price objective on SEI Investments from $55.00 to $52.00 and set an “underweight” rating for the company in a research note on Thursday, July 21st. Piper Sandler reduced their price objective on SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. William Blair reaffirmed a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. Finally, StockNews.com cut SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $60.50.

Insiders Place Their Bets

In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the transaction, the insider now owns 576,663 shares of the company’s stock, valued at approximately $31,802,964.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other SEI Investments news, insider Dennis Mcgonigle sold 35,000 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the transaction, the insider now owns 576,663 shares of the company’s stock, valued at approximately $31,802,964.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Wayne Withrow sold 15,000 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the transaction, the executive vice president now directly owns 38,799 shares in the company, valued at approximately $2,164,208.22. The disclosure for this sale can be found here. Corporate insiders own 25.40% of the company’s stock.

SEI Investments Profile

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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.

Further Reading

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