BTS Asset Management Inc. Purchases New Shares in SEI Investments (NASDAQ:SEIC)

BTS Asset Management Inc. purchased a new position in shares of SEI Investments (NASDAQ:SEIC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,073 shares of the asset manager's stock, valued at approximately $253,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SEIC. First Horizon Advisors Inc. grew its holdings in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after purchasing an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock worth $38,000 after buying an additional 500 shares in the last quarter. Point72 DIFC Ltd bought a new stake in SEI Investments during the 3rd quarter worth about $45,000. Northwestern Mutual Wealth Management Co. increased its position in SEI Investments by 16.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager's stock valued at $77,000 after acquiring an additional 168 shares in the last quarter. Finally, Quarry LP bought a new position in shares of SEI Investments in the second quarter worth about $136,000. Institutional investors own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Morgan Stanley raised 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. Piper Sandler lifted their target price on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods upped their price target on SEI Investments from $76.00 to $86.00 and gave the company a "market perform" rating in a research note on Friday, December 20th. Finally, Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $86.75.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 52,042 shares of SEI Investments stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the transaction, the chairman now owns 7,232,922 shares of the company's stock, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Peterson sold 25,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 239,258 shares of company stock valued at $19,753,402 in the last quarter. 14.30% of the stock is currently owned by insiders.

SEI Investments Price Performance

SEIC traded up $0.52 during trading on Friday, reaching $83.48. The company had a trading volume of 419,338 shares, compared to its average volume of 601,668. The company has a market cap of $10.76 billion, a P/E ratio of 20.16, a PEG ratio of 1.34 and a beta of 0.98. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The business's fifty day moving average price is $82.40 and its 200 day moving average price is $73.58.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.07 by $0.12. The firm had revenue of $537.40 million during the quarter, compared to analysts' expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company's revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 EPS. As a group, sell-side analysts predict that SEI Investments will post 4.42 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. 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 payout ratio is presently 23.67%.

SEI Investments declared that its board has approved a stock buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

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.