Jupiter Asset Management Ltd. Has $23.54 Million Stock Position in SEI Investments Company $SEIC

Jupiter Asset Management Ltd. lowered its position in SEI Investments Company (NASDAQ:SEIC) by 33.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 277,462 shares of the asset manager’s stock after selling 139,743 shares during the quarter. Jupiter Asset Management Ltd.’s holdings in SEI Investments were worth $23,543,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SEIC. Norges Bank bought a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $55,685,000. Azora Capital LP lifted its stake in SEI Investments by 109.3% in the second quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock valued at $69,907,000 after acquiring an additional 406,287 shares during the last quarter. Swiss National Bank bought a new stake in SEI Investments in the second quarter worth approximately $18,340,000. Qube Research & Technologies Ltd increased its stake in shares of SEI Investments by 76.1% during the 2nd quarter. Qube Research & Technologies Ltd now owns 420,079 shares of the asset manager’s stock worth $37,748,000 after purchasing an additional 181,586 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its holdings in shares of SEI Investments by 141.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 252,231 shares of the asset manager’s stock valued at $21,401,000 after purchasing an additional 147,938 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Trading Up 1.0%

SEI Investments stock opened at $81.39 on Friday. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. The firm has a market capitalization of $9.97 billion, a PE ratio of 14.46 and a beta of 0.95. The business’s 50-day simple moving average is $84.28 and its 200-day simple moving average is $84.32.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The business had revenue of $607.93 million during the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The business’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period last year, the business earned $1.19 EPS. Equities research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a stock repurchase plan on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Dividend Announcement

The business also recently announced a dividend, which was paid on Monday, January 12th. Investors of record on Monday, December 29th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a yield of 124.0%. SEI Investments’s payout ratio is 18.47%.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. The trade was a 0.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 80,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the transaction, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This represents a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SEIC has been the subject of several analyst reports. Raymond James Financial reiterated an “outperform” rating and issued a $117.00 price objective on shares of SEI Investments in a report on Monday, January 5th. UBS Group initiated coverage on SEI Investments in a research report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target for the company. Piper Sandler reissued an “overweight” rating and set a $106.00 price objective on shares of SEI Investments in a report on Friday. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Finally, Morgan Stanley upped their target price on SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $109.67.

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.