Barclays PLC Has $11.49 Million Holdings in SEI Investments (NASDAQ:SEIC)

Barclays PLC trimmed its stake in SEI Investments (NASDAQ:SEIC) by 8.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 166,012 shares of the asset manager’s stock after selling 16,163 shares during the period. Barclays PLC owned about 0.13% of SEI Investments worth $11,487,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares 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 valued at $61,241,000 after buying an additional 632,024 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of SEI Investments by 19.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock worth $89,291,000 after purchasing an additional 222,631 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of SEI Investments in the 2nd quarter valued at $7,787,000. Verition Fund Management LLC raised its stake in SEI Investments by 2,766.3% during the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after buying an additional 107,222 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC lifted its holdings in SEI Investments by 211.6% in the third quarter. Chevy Chase Trust Holdings LLC now owns 79,690 shares of the asset manager’s stock valued at $5,514,000 after buying an additional 54,118 shares during the period. 70.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on SEIC. Morgan Stanley lifted their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, October 24th. Oppenheimer lifted their target price on SEI Investments from $81.00 to $85.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Piper Sandler increased their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a report on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

SEIC stock opened at $85.73 on Tuesday. The stock’s 50 day simple moving average is $78.49 and its 200 day simple moving average is $70.82. The company has a market cap of $11.05 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. SEI Investments has a fifty-two week low of $61.58 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period in the prior year, the firm earned $0.87 earnings per share. SEI Investments’s revenue for the quarter was up 12.7% on a year-over-year basis. Equities analysts predict that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments Increases Dividend

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

SEI Investments declared that its Board of Directors has authorized a share repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, EVP Philip Mccabe sold 10,500 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.91, for a total value of $797,055.00. Following the completion of the sale, the executive vice president now owns 43,544 shares in the company, valued at $3,305,425.04. This represents a 19.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction dated 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 approximately $11,055,914.10. This represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,058 shares of company stock worth $7,245,697 over the last three months. 14.30% of the stock is currently owned by insiders.

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.