SG Americas Securities LLC Increases Holdings in SEI Investments (NASDAQ:SEIC)

SG Americas Securities LLC increased its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 89.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,799 shares of the asset manager's stock after purchasing an additional 11,739 shares during the period. SG Americas Securities LLC's holdings in SEI Investments were worth $2,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SEIC. First Horizon Advisors Inc. boosted its stake in SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after buying an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager's stock valued at $38,000 after purchasing an additional 500 shares during the last quarter. Point72 DIFC Ltd purchased a new position in SEI Investments in the 3rd quarter worth $45,000. Northwestern Mutual Wealth Management Co. raised 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 worth $77,000 after purchasing an additional 168 shares during the period. Finally, Quarry LP bought a new stake in SEI Investments in the second quarter worth $136,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares of the company's stock, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the firm's stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the transaction, the chairman now owns 7,284,964 shares of the company's stock, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 186,194 shares of company stock valued at $15,769,472. Company insiders own 14.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SEIC shares. Keefe, Bruyette & Woods raised their price objective 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. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, January 3rd. Finally, Piper Sandler raised 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $86.75.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded down $1.43 during trading hours on Monday, hitting $83.45. The company's stock had a trading volume of 571,454 shares, compared to its average volume of 540,235. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 20.16, a P/E/G ratio of 1.44 and a beta of 0.98. The business has a 50-day simple moving average of $82.78 and a 200-day simple moving average of $74.42.

SEI Investments declared that its Board of Directors has approved a stock repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a $0.49 dividend. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments's dividend payout ratio (DPR) is currently 23.67%.

SEI Investments 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.