Quantinno Capital Management LP Has $1.22 Million Stock Position in SEI Investments (NASDAQ:SEIC)

Quantinno Capital Management LP raised its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 56.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 17,591 shares of the asset manager's stock after purchasing an additional 6,364 shares during the period. Quantinno Capital Management LP's holdings in SEI Investments were worth $1,217,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Fairfield Financial Advisors LTD bought a new position in SEI Investments during the second quarter worth $30,000. First Horizon Advisors Inc. lifted its position in shares of SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after buying an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of SEI Investments by 925.9% in the 3rd 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 stake in shares of SEI Investments during the 3rd quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. raised 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 worth $77,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $84.23, for a total transaction of $504,032.32. Following the completion of the transaction, the chairman now owns 7,371,522 shares in the company, valued at approximately $620,903,298.06. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Michael Peterson sold 25,000 shares of the business'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. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 93,058 shares of company stock worth $7,245,697 over the last quarter. 14.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on SEIC shares. Morgan Stanley upped their target price on SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a report on Thursday, October 24th. Oppenheimer increased their target price on SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $77.00 and gave the company a "neutral" rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $77.50.

SEI Investments Stock Down 0.9 %

SEI Investments stock traded down $0.75 during mid-day trading on Friday, hitting $85.83. 841,087 shares of the company's stock traded hands, compared to its average volume of 597,338. SEI Investments has a one year low of $61.28 and a one year high of $87.25. The company has a market cap of $11.06 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The firm has a 50 day moving average price of $78.17 and a 200 day moving average price of $70.63.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share 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 the consensus estimate of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The company's quarterly revenue was up 12.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments declared that its board has initiated 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 reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th will be issued a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 27th. This is a boost from SEI Investments's previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments's dividend payout ratio (DPR) is 22.22%.

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.