22,039 Shares in SEI Investments (NASDAQ:SEIC) Acquired by CHURCHILL MANAGEMENT Corp

CHURCHILL MANAGEMENT Corp bought a new position in SEI Investments (NASDAQ:SEIC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 22,039 shares of the asset manager's stock, valued at approximately $1,818,000.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its holdings in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in SEI Investments by 925.9% during the third 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 purchased a new stake in SEI Investments in the 3rd quarter valued at $45,000. Northwestern Mutual Wealth Management Co. lifted its stake in 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 acquiring an additional 168 shares in the last quarter. Finally, Quarry LP purchased a new position in SEI Investments during the 2nd quarter worth $136,000. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Up 0.6 %

NASDAQ SEIC traded up $0.52 during trading hours on Friday, reaching $83.48. 419,338 shares of the company were exchanged, compared to its average volume of 536,331. The stock has a market capitalization of $10.76 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.34 and a beta of 0.98. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The business's 50 day simple moving average is $82.33 and its 200-day simple moving average is $73.39.

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

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

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. This represents a dividend yield of 1.1%. The ex-dividend date was Friday, December 27th. This is a boost from SEI Investments's previous semi-annual dividend of $0.46. SEI Investments's dividend payout ratio is currently 23.67%.

Insider Transactions at SEI Investments

In related news, Director Carmen Romeo sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $79.64, for a total transaction of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of SEI Investments stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction 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 represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SEIC. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a "market perform" rating in a report on Friday, December 20th. Oppenheimer increased their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a research note on Friday, January 3rd. Finally, Piper Sandler increased their price target on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $86.75.

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.