Stifel Financial Corp Sells 676 Shares of SEI Investments (NASDAQ:SEIC)

Stifel Financial Corp lessened its stake in SEI Investments (NASDAQ:SEIC) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,324 shares of the asset manager’s stock after selling 676 shares during the quarter. Stifel Financial Corp’s holdings in SEI Investments were worth $1,199,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Quantinno Capital Management LP boosted its stake in SEI Investments by 56.7% in the 3rd quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock worth $1,217,000 after purchasing an additional 6,364 shares during the period. Petrus Trust Company LTA lifted its holdings in shares of SEI Investments by 81.8% in the third quarter. Petrus Trust Company LTA now owns 11,105 shares of the asset manager’s stock valued at $768,000 after purchasing an additional 4,998 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of SEI Investments during the third quarter worth about $45,000. Point72 Asset Management L.P. bought a new position in shares of SEI Investments during the third quarter worth about $540,000. Finally, Prana Capital Management LP raised its position in SEI Investments by 10.9% in the 3rd quarter. Prana Capital Management LP now owns 196,816 shares of the asset manager’s stock valued at $13,618,000 after buying an additional 19,289 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their price target on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday. Morgan Stanley increased their target price on shares of SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. Oppenheimer lifted their price target 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. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One 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. According to MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus target price of $80.75.

SEI Investments Stock Up 1.6 %

Shares of SEI Investments stock opened at $82.75 on Monday. SEI Investments has a 12-month low of $61.58 and a 12-month high of $87.25. The business’s 50 day moving average is $79.45 and its 200-day moving average is $71.22. The stock has a market cap of $10.67 billion, a P/E ratio of 19.99, a P/E/G ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter last year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was up 12.7% compared to the same quarter last year. On average, sell-side analysts expect that SEI Investments will post 4.41 EPS for the current year.

SEI Investments Increases Dividend

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

SEI Investments declared that its board has approved a stock repurchase 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Philip Mccabe sold 10,500 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $75.91, for a total transaction of $797,055.00. Following the completion of the sale, the executive vice president now owns 43,544 shares in the company, valued at approximately $3,305,425.04. This trade represents a 19.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock valued at $19,753,402 over the last 90 days. 14.30% of the stock is currently 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.