SEI Investments (NASDAQ:SEIC) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in SEI Investments (NASDAQ:SEIC) by 37.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,325 shares of the asset manager’s stock after selling 35,280 shares during the period. Van ECK Associates Corp’s holdings in SEI Investments were worth $4,893,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Aurora Investment Counsel grew its stake in SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager’s stock valued at $1,741,000 after acquiring an additional 144 shares during the last quarter. Creative Planning grew its stake in SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after acquiring an additional 182 shares during the last quarter. Procyon Advisors LLC grew its stake in SEI Investments by 0.5% in the 4th quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager’s stock valued at $2,936,000 after acquiring an additional 187 shares during the last quarter. First Horizon Advisors Inc. grew its stake in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares during the last quarter. Finally, Private Advisor Group LLC lifted its holdings in SEI Investments by 9.4% in the 3rd quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager’s stock valued at $246,000 after purchasing an additional 306 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of SEIC stock opened at $82.84 on Wednesday. The firm has a market cap of $10.68 billion, a P/E ratio of 18.74, a PEG ratio of 1.48 and a beta of 0.98. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The firm’s 50-day simple moving average is $83.43 and its 200-day simple moving average is $76.35.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a $0.49 dividend. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. This represents a yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is presently 22.17%.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 52,042 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the transaction, the chairman now owns 7,232,922 shares in the company, valued at approximately $616,461,942.06. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 171,194 shares of company stock worth $14,579,872. Company insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SEIC. Morgan Stanley upped their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Piper Sandler upped their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Finally, Oppenheimer upped their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $90.00.

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.