Rhumbline Advisers Trims Position in SEI Investments (NASDAQ:SEIC)

Rhumbline Advisers cut its position in SEI Investments (NASDAQ:SEIC) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 337,992 shares of the asset manager’s stock after selling 1,419 shares during the period. Rhumbline Advisers owned about 0.26% of SEI Investments worth $27,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SEIC. FMR LLC increased its stake in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares in the last quarter. Geode Capital Management LLC increased its holdings in SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after acquiring an additional 300,704 shares during the last quarter. Portman Square Capital LLP increased its holdings in SEI Investments by 113.1% in the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock valued at $1,436,000 after acquiring an additional 149,840 shares during the last quarter. UMB Bank n.a. bought a new stake in SEI Investments in the 4th quarter valued at $9,096,000. Finally, Verition Fund Management LLC increased its holdings in SEI Investments by 2,766.3% in 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 last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of research reports. Piper Sandler lifted their price target 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. Morgan Stanley lifted their price target 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 reiterated a “market perform” rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a report on Thursday, January 30th. Finally, Oppenheimer lifted their price target 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 assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $90.00.

SEI Investments Price Performance

SEI Investments stock opened at $82.84 on Thursday. The company’s 50-day moving average price is $83.37 and its 200-day moving average price is $76.40. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company has a market cap of $10.68 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is currently 22.17%.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 52,042 shares of SEI Investments stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the completion of the transaction, the chairman now directly owns 7,232,922 shares of the company’s stock, valued at approximately $616,461,942.06. The trade was a 0.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders sold 171,194 shares of company stock valued at $14,579,872. Company insiders own 14.30% of the company’s stock.

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.