GAMMA Investing LLC Boosts Stake in SEI Investments (NASDAQ:SEIC)

GAMMA Investing LLC lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 44.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,869 shares of the asset manager’s stock after acquiring an additional 1,509 shares during the quarter. GAMMA Investing LLC’s holdings in SEI Investments were worth $402,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Texas Permanent School Fund Corp increased its stake in SEI Investments by 9.6% in the second quarter. Texas Permanent School Fund Corp now owns 95,639 shares of the asset manager’s stock valued at $6,187,000 after purchasing an additional 8,387 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of SEI Investments by 60.7% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock valued at $1,386,000 after purchasing an additional 8,094 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. grew its holdings in SEI Investments by 12.1% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock worth $4,925,000 after acquiring an additional 8,243 shares in the last quarter. Portfolio Design Labs LLC acquired a new stake in SEI Investments during the third quarter valued at approximately $1,701,000. Finally, Quantinno Capital Management LP increased its stake in SEI Investments by 56.7% during the third quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock valued at $1,217,000 after purchasing an additional 6,364 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SEIC shares. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday. Keefe, Bruyette & Woods upped their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Piper Sandler upped their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Finally, Oppenheimer boosted their target price on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research note 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 issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $84.50.

SEI Investments Trading Down 0.0 %

Shares of NASDAQ:SEIC opened at $81.90 on Monday. The stock has a market capitalization of $10.56 billion, a PE ratio of 19.78, a P/E/G ratio of 1.62 and a beta of 0.98. SEI Investments has a 1 year low of $61.58 and a 1 year high of $87.25. The firm has a fifty day moving average price of $81.56 and a 200 day moving average price of $72.51.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million during the quarter, compared to the consensus estimate of $534.08 million. During the same quarter in the prior year, the company posted $0.87 EPS. The firm’s revenue was up 12.7% on a year-over-year basis. On average, sell-side analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

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

SEI Investments announced that its Board of Directors has approved a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 4.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the completion of the transaction, the chairman now directly owns 7,377,506 shares in the company, valued at $608,570,469.94. This represents a 0.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carl Guarino sold 7,564 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total transaction of $573,124.28. Following the completion of the sale, the director now directly owns 13,867 shares of the company’s stock, valued at approximately $1,050,702.59. This trade represents a 35.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is owned by insiders.

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.