SEI Investments Company $SEIC Stock Position Cut by Gries Financial LLC

Gries Financial LLC trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC) by 35.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,382 shares of the asset manager’s stock after selling 10,465 shares during the period. Gries Financial LLC’s holdings in SEI Investments were worth $1,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ethic Inc. boosted its stake in shares of SEI Investments by 3.0% during the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after acquiring an additional 133 shares in the last quarter. Fifth Third Bancorp boosted its position in SEI Investments by 12.0% during the second quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock worth $118,000 after purchasing an additional 141 shares during the period. Concurrent Investment Advisors LLC boosted its position in SEI Investments by 3.2% during the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock worth $519,000 after purchasing an additional 179 shares during the period. WealthCollab LLC grew its holdings in SEI Investments by 33.7% during the second quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after purchasing an additional 193 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Up 4.7%

SEIC stock opened at $86.95 on Tuesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. The stock has a market capitalization of $10.65 billion, a price-to-earnings ratio of 15.98 and a beta of 0.97. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The business’s fifty day moving average price is $82.08 and its two-hundred day moving average price is $85.62.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The firm had revenue of $578.51 million for the quarter, compared to analyst estimates of $578.75 million. During the same period last year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has authorized a stock repurchase program on Friday, October 24th that permits the company to buyback $650.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

SEI Investments Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be given a $0.52 dividend. This represents a yield of 124.0%. The ex-dividend date of this dividend is Monday, December 29th. SEI Investments’s payout ratio is presently 19.12%.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 24,770 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the sale, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. The trade was a 0.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 14.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SEIC. Piper Sandler upgraded shares of SEI Investments from a “neutral” rating to an “overweight” rating and raised their target price for the company from $93.00 to $102.00 in a research note on Tuesday, December 23rd. Keefe, Bruyette & Woods upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and upped their price target for the company from $93.00 to $97.00 in a report on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Morgan Stanley lifted their price objective on SEI Investments from $105.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, September 19th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $117.00 target price on shares of SEI Investments in a report on Monday. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and a consensus price target of $106.40.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.