Piedmont Investment Advisors LLC Cuts Stake in SEI Investments Company (SEIC)

Piedmont Investment Advisors LLC cut its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,625 shares of the asset manager’s stock after selling 775 shares during the quarter. Piedmont Investment Advisors LLC’s holdings in SEI Investments were worth $832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SEIC. Invictus RG acquired a new position in SEI Investments during the third quarter worth about $111,000. Pacer Advisors Inc. boosted its position in SEI Investments by 8.2% during the second quarter. Pacer Advisors Inc. now owns 2,675 shares of the asset manager’s stock worth $144,000 after acquiring an additional 203 shares during the last quarter. Meeder Asset Management Inc. boosted its position in SEI Investments by 7,575.0% during the third quarter. Meeder Asset Management Inc. now owns 2,456 shares of the asset manager’s stock worth $150,000 after acquiring an additional 2,424 shares during the last quarter. D.A. Davidson & CO. boosted its position in SEI Investments by 9.3% during the second quarter. D.A. Davidson & CO. now owns 2,983 shares of the asset manager’s stock worth $160,000 after acquiring an additional 253 shares during the last quarter. Finally, Mosaic Family Wealth LLC boosted its position in SEI Investments by 6.7% during the second quarter. Mosaic Family Wealth LLC now owns 3,176 shares of the asset manager’s stock worth $171,000 after acquiring an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 70.55% of the company’s stock.

SEI Investments Company (SEIC) opened at $71.58 on Friday. The company has a quick ratio of 5.41, a current ratio of 5.52 and a debt-to-equity ratio of 0.03. The firm has a market cap of $11,128.63, a PE ratio of 30.73, a price-to-earnings-growth ratio of 2.51 and a beta of 1.40. SEI Investments Company has a fifty-two week low of $47.88 and a fifty-two week high of $71.92.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.06. The company had revenue of $368.02 million for the quarter, compared to analyst estimates of $384.43 million. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. SEI Investments’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.53 EPS. equities research analysts predict that SEI Investments Company will post 2.35 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a stock repurchase program on Wednesday, October 25th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

The company also recently announced a semiannual dividend, which will be paid on Monday, January 8th. Shareholders of record on Wednesday, December 27th will be issued a $0.30 dividend. This represents a yield of 0.85%. This is a positive change from SEI Investments’s previous semiannual dividend of $0.28. The ex-dividend date is Tuesday, December 26th. SEI Investments’s payout ratio is presently 24.35%.

In other SEI Investments news, insider Wayne Withrow sold 10,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $70.35, for a total value of $703,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Sarah Blumenstein sold 5,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $65.33, for a total transaction of $326,650.00. The disclosure for this sale can be found here. Insiders sold a total of 206,250 shares of company stock worth $13,246,650 over the last quarter. 16.50% of the stock is currently owned by company insiders.

A number of research firms recently weighed in on SEIC. Mizuho restated a “buy” rating and set a $72.00 price target on shares of SEI Investments in a research report on Friday, November 17th. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Monday, October 30th. Oppenheimer boosted their price target on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research report on Thursday, September 28th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $58.00 price target on shares of SEI Investments in a research report on Sunday, September 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. SEI Investments currently has a consensus rating of “Buy” and an average target price of $67.25.

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About SEI Investments

SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.

Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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