Pacer Advisors Inc. Sells 6,958 Shares of SEI Investments (NASDAQ:SEIC)

Pacer Advisors Inc. lessened its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 32.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,607 shares of the asset manager's stock after selling 6,958 shares during the quarter. Pacer Advisors Inc.'s holdings in SEI Investments were worth $1,205,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of SEIC. First Horizon Advisors Inc. lifted 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 increased its position in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock valued at $38,000 after buying an additional 500 shares during the period. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the third quarter valued at approximately $45,000. Northwestern Mutual Wealth Management Co. grew its stake in SEI Investments by 16.3% during the second 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, International Assets Investment Management LLC increased its holdings in SEI Investments by 6,818.9% during the 3rd quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager's stock worth $177,000 after acquiring an additional 2,523 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Trading Down 0.1 %

Shares of SEIC traded down $0.06 during mid-day trading on Thursday, reaching $86.24. The company's stock had a trading volume of 308,284 shares, compared to its average volume of 576,558. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company's fifty day moving average price is $83.48 and its two-hundred day moving average price is $75.32. The stock has a market cap of $11.12 billion, a PE ratio of 19.51, a P/E/G ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

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

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were given a dividend of $0.49 per share. This represents a yield of 1.1%. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. SEI Investments's dividend payout ratio (DPR) is presently 22.17%.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $84.23, for a total value of $504,032.32. Following the sale, the chairman now directly owns 7,371,522 shares of the company's stock, valued at $620,903,298.06. This trade represents a 0.08 % 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. Over the last 90 days, insiders sold 171,194 shares of company stock worth $14,579,872. 14.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, January 3rd. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. Piper Sandler boosted their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments presently has an average rating of "Hold" and a consensus price target of $90.00.

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.