Great Diamond Partners LLC Takes Position in SEI Investments (NASDAQ:SEIC)

Great Diamond Partners LLC acquired a new position in SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 2,463 shares of the asset manager’s stock, valued at approximately $203,000.

Several other institutional investors have also modified their holdings of SEIC. Geode Capital Management LLC boosted its position in shares of SEI Investments by 13.5% during 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 purchasing an additional 300,704 shares in the last quarter. FMR LLC boosted its holdings in SEI Investments by 249.7% during the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock worth $37,791,000 after buying an additional 10,576 shares during the last quarter. Raymond James & Associates increased its holdings in shares of SEI Investments by 3.8% in the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after buying an additional 19,846 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of SEI Investments by 13.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager’s stock valued at $35,143,000 after acquiring an additional 60,824 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

NASDAQ:SEIC opened at $86.58 on Friday. The stock has a market cap of $11.16 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The stock’s 50-day moving average is $83.17 and its two-hundred day moving average is $74.81.

SEI Investments (NASDAQ:SEIC) last released 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 net margin of 27.35% and a return on equity of 25.41%. On average, equities research analysts anticipate that SEI Investments will post 4.89 earnings per share for the current year.

SEI Investments Increases Dividend

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

SEI Investments announced that its board has initiated a stock repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SEIC. Raymond James upgraded 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. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday. Piper Sandler raised their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Morgan Stanley boosted 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. Finally, Oppenheimer raised their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $90.00.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares in the company, valued at $514,410. The trade was a 60.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the transaction, the chairman now owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 186,194 shares of company stock worth $15,769,472 over the last 90 days. 14.30% of the stock is currently owned by corporate 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.