JPMorgan Chase & Co. Grows Stock Holdings in SEI Investments (NASDAQ:SEIC)

JPMorgan Chase & Co. lifted its stake in shares of SEI Investments (NASDAQ:SEIC) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 507,916 shares of the asset manager’s stock after acquiring an additional 60,824 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.39% of SEI Investments worth $35,143,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Fairfield Financial Advisors LTD purchased a new position in SEI Investments during the 2nd quarter valued at about $30,000. First Horizon Advisors Inc. raised its stake in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the period. Point72 DIFC Ltd purchased a new position in shares of SEI Investments in the 3rd quarter valued at $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after purchasing an additional 168 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity

In other news, CEO Ryan Hicke sold 10,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was 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 approximately $608,570,469.94. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock worth $19,753,402 over the last 90 days. 14.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SEIC has been the subject of several analyst reports. Piper Sandler increased their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Oppenheimer lifted their price target on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Finally, Morgan Stanley lifted their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $84.50.

SEI Investments Stock Down 0.1 %

Shares of SEIC opened at $81.85 on Tuesday. The stock’s 50-day moving average price is $81.69 and its 200-day moving average price is $72.62. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a 52 week low of $62.34 and a 52 week high of $87.25.

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

SEI Investments declared that its board has initiated a share buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

SEI Investments Increases Dividend

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

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.