Diversified Trust Co Reduces Stock Holdings in SEI Investments (NASDAQ:SEIC)

Diversified Trust Co trimmed its position in SEI Investments (NASDAQ:SEIC - Free Report) by 33.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,054 shares of the asset manager's stock after selling 17,966 shares during the period. Diversified Trust Co's holdings in SEI Investments were worth $2,974,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Fairfield Financial Advisors LTD purchased a new position in shares of SEI Investments in the 2nd quarter valued at approximately $30,000. First Horizon Advisors Inc. lifted its stake in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock valued at $32,000 after acquiring an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of SEI Investments by 925.9% in 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 during the last quarter. Point72 DIFC Ltd acquired a new position in shares of SEI Investments in the 3rd quarter valued at $45,000. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in SEI Investments by 16.3% in the second 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 in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SEI Investments

In other news, EVP Michael Peterson sold 25,000 shares of the company's stock in a transaction that occurred on Friday, October 25th. The stock was 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 owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Carmen Romeo sold 5,000 shares of SEI Investments stock in a transaction 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 completion of the transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 239,258 shares of company stock worth $19,753,402. 14.30% of the stock is owned by insiders.

SEI Investments Trading Up 0.4 %

NASDAQ:SEIC traded up $0.30 during mid-day trading on Wednesday, hitting $81.48. The stock had a trading volume of 505,883 shares, compared to its average volume of 574,617. SEI Investments has a twelve month low of $62.34 and a twelve month high of $87.25. The company has a market capitalization of $10.50 billion, a PE ratio of 19.68, a PEG ratio of 1.62 and a beta of 0.98. The stock has a 50-day simple moving average of $81.89 and a two-hundred day simple moving average of $72.79.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data 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. The business 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 business's quarterly revenue was up 12.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.87 EPS. Sell-side analysts predict that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments announced that its board has approved a share repurchase program on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's management believes its shares are undervalued.

SEI Investments Increases Dividend

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

Wall Street Analyst Weigh In

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

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.