ProShare Advisors LLC Sells 62,533 Shares of SEI Investments Company $SEIC
by Sarita Garza · The Markets DailyProShare Advisors LLC lessened its position in SEI Investments Company (NASDAQ:SEIC – Free Report) by 13.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 389,621 shares of the asset manager’s stock after selling 62,533 shares during the quarter. ProShare Advisors LLC owned approximately 0.32% of SEI Investments worth $33,059,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently bought and sold shares of SEIC. Root Financial Partners LLC bought a new stake in SEI Investments during the third quarter worth about $28,000. SJS Investment Consulting Inc. grew its stake in SEI Investments by 142.9% in the third quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after purchasing an additional 210 shares in the last quarter. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments during the 2nd quarter worth approximately $34,000. Addison Advisors LLC raised its stake in shares of SEI Investments by 117.6% during the 2nd quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock worth $41,000 after purchasing an additional 247 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.
SEI Investments Price Performance
SEI Investments stock opened at $82.30 on Wednesday. The company has a market capitalization of $10.08 billion, a price-to-earnings ratio of 14.62 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 Company has a 12 month low of $64.66 and a 12 month high of $93.96. The stock’s 50 day moving average is $84.65 and its 200-day moving average is $84.75.
SEI Investments (NASDAQ:SEIC – Get Free Report) last issued its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.04). The business had revenue of $607.93 million during the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.SEI Investments’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.19 EPS. Equities research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.
SEI Investments announced that its Board of Directors has authorized a share buyback program on Friday, October 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.
SEI Investments Announces Dividend
The firm also recently announced 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 was Monday, December 29th. SEI Investments’s payout ratio is currently 18.47%.
Insider Activity
In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the completion of the transaction, 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 the firm’s stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the transaction, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. The trade was a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.30% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of analysts have commented on SEIC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a research note on Monday, January 5th. UBS Group initiated coverage on SEI Investments in a research report on Wednesday, February 4th. They set a “buy” rating and a $115.00 price target on the stock. Piper Sandler raised their price objective on SEI Investments from $102.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. Finally, Keefe, Bruyette & Woods lifted their target price on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.17.
Check Out Our Latest Report on SEIC
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.
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