SEI Investments (NASDAQ:SEIC) Shares Purchased by MML Investors Services LLC

MML Investors Services LLC boosted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,472 shares of the asset manager’s stock after acquiring an additional 377 shares during the quarter. MML Investors Services LLC’s holdings in SEI Investments were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SEIC. FMR LLC raised its position in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 valued at $89,291,000 after buying an additional 222,631 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of SEI Investments in the 2nd quarter valued at $7,787,000. Verition Fund Management LLC boosted its holdings in SEI Investments by 2,766.3% during the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after acquiring an additional 107,222 shares during the period. Finally, Chevy Chase Trust Holdings LLC boosted its holdings in SEI Investments by 211.6% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 79,690 shares of the asset manager’s stock valued at $5,514,000 after acquiring an additional 54,118 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Up 0.1 %

Shares of NASDAQ:SEIC opened at $84.53 on Friday. SEI Investments has a fifty-two week low of $61.58 and a fifty-two week high of $87.25. The firm’s 50 day moving average price is $80.41 and its 200 day moving average price is $71.68. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 20.42, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company’s revenue was up 12.7% on a year-over-year basis. During the same period last year, the business earned $0.87 EPS. On average, equities analysts anticipate that SEI Investments will post 4.41 EPS for the current year.

SEI Investments declared that its board has approved a stock repurchase program on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th will be given a dividend of $0.49 per share. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, December 27th. SEI Investments’s dividend payout ratio is currently 23.67%.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 52,042 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the transaction, the chairman now owns 7,232,922 shares of the company’s stock, valued at approximately $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction dated Friday, October 25th. The stock was 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 trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

SEIC has been the topic of several research reports. Piper Sandler increased their price target on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a report on Friday, December 20th. Oppenheimer raised their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Morgan Stanley upped their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $83.25.

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.