Barclays PLC Sells 16,163 Shares of SEI Investments (NASDAQ:SEIC)

Barclays PLC decreased its position in SEI Investments (NASDAQ:SEIC - Free Report) by 8.9% in the third quarter, according to its most recent 13F filing with the SEC. 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 institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aurora Investment Counsel lifted its position in shares of SEI Investments by 0.6% in the third quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager's stock worth $1,741,000 after purchasing an additional 144 shares in the last quarter. IFG Advisory LLC lifted its position in SEI Investments by 0.3% in the 2nd quarter. IFG Advisory LLC now owns 59,228 shares of the asset manager's stock worth $3,831,000 after buying an additional 166 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock valued at $77,000 after buying an additional 168 shares during the period. Creative Planning grew its holdings in shares of SEI Investments by 2.3% during the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager's stock valued at $559,000 after acquiring an additional 182 shares in the last quarter. Finally, Signaturefd LLC increased its stake in shares of SEI Investments by 7.8% in the second quarter. Signaturefd LLC now owns 2,942 shares of the asset manager's stock worth $190,000 after acquiring an additional 213 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SEIC. Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Piper Sandler lifted their price target on SEI Investments from $74.00 to $77.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. Finally, Morgan Stanley increased their price objective on SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, October 24th. One 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 MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $77.50.

SEI Investments Trading Down 0.7 %

NASDAQ SEIC traded down $0.61 during trading on Tuesday, hitting $85.12. 808,239 shares of the company traded hands, compared to its average volume of 599,483. SEI Investments has a 12 month low of $61.58 and a 12 month high of $87.25. The business has a fifty day simple moving average of $78.79 and a 200 day simple moving average of $70.94. The company has a market capitalization of $10.97 billion, a P/E ratio of 20.56, a PEG ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, beating analysts' consensus estimates of $1.07 by $0.12. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm's revenue was up 12.7% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. Equities research analysts predict that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 27th will be issued a dividend of $0.49 per share. This is an increase from SEI Investments's previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, December 27th. SEI Investments's dividend payout ratio is currently 23.67%.

SEI Investments announced that its board has authorized a stock repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Activity at SEI Investments

In related news, Director Carmen Romeo sold 5,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares of the company's stock, valued at approximately $125,644,205.28. The trade was a 0.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the sale, the chairman now directly owns 7,284,964 shares in the company, valued at $624,539,963.72. This trade represents a 1.28 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is owned by insiders.

About SEI Investments

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.