Fisher Asset Management LLC Grows Stake in SEI Investments (NASDAQ:SEIC)

Fisher Asset Management LLC grew its holdings in SEI Investments (NASDAQ:SEIC) by 6.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 8,648 shares of the asset manager’s stock after acquiring an additional 500 shares during the quarter. Fisher Asset Management LLC’s holdings in SEI Investments were worth $550,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. abrdn plc increased its holdings in shares of SEI Investments by 91.0% in the 4th quarter. abrdn plc now owns 36,923 shares of the asset manager’s stock valued at $2,346,000 after acquiring an additional 17,590 shares during the last quarter. IFG Advisory LLC boosted its position in shares of SEI Investments by 109.1% in the 4th quarter. IFG Advisory LLC now owns 58,292 shares of the asset manager’s stock valued at $3,704,000 after purchasing an additional 30,408 shares during the period. Norges Bank acquired a new stake in shares of SEI Investments in the 4th quarter valued at about $32,161,000. Diversified Trust Co boosted its position in shares of SEI Investments by 299.3% in the 4th quarter. Diversified Trust Co now owns 55,230 shares of the asset manager’s stock valued at $3,510,000 after purchasing an additional 41,397 shares during the period. Finally, Point72 Europe London LLP acquired a new stake in shares of SEI Investments in the 4th quarter valued at about $863,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

SEIC opened at $65.80 on Monday. The business has a 50 day simple moving average of $66.86 and a 200-day simple moving average of $66.39. The stock has a market capitalization of $8.65 billion, a P/E ratio of 17.98, a P/E/G ratio of 1.33 and a beta of 1.02. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $511.58 million during the quarter, compared to analysts’ expectations of $510.41 million. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm earned $0.79 EPS. Research analysts anticipate that SEI Investments will post 4.14 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Monday, June 10th were issued a $0.46 dividend. This is a boost from SEI Investments’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.80%. The ex-dividend date of this dividend was Monday, June 10th. SEI Investments’s dividend payout ratio (DPR) is currently 25.14%.

Analyst Ratings Changes

A number of analysts recently issued reports on SEIC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $74.00 target price (up from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Piper Sandler decreased their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. Oppenheimer upped their target price on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Finally, StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.00.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the sale, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Alfred P. West, Jr. sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the completion of the transaction, the chairman now directly owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the transaction, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The disclosure for this sale can be found here. Insiders sold 287,363 shares of company stock valued at $20,081,067 in the last three months. 14.30% of the stock is currently owned by company insiders.

SEI Investments 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.