Valley National Advisers Inc. Reduces Holdings in SEI Investments (NASDAQ:SEIC)

Valley National Advisers Inc. cut its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 46.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,539 shares of the asset manager's stock after selling 3,919 shares during the quarter. Valley National Advisers Inc.'s holdings in SEI Investments were worth $374,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted 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 purchasing an additional 168 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in shares of SEI Investments during the 2nd quarter worth $2,775,000. Handelsbanken Fonder AB grew its holdings in SEI Investments by 8.5% during the third quarter. Handelsbanken Fonder AB now owns 26,900 shares of the asset manager's stock valued at $1,861,000 after purchasing an additional 2,100 shares during the period. GAMMA Investing LLC lifted its position in shares of SEI Investments by 58.5% during the 3rd quarter. GAMMA Investing LLC now owns 3,360 shares of the asset manager's stock valued at $232,000 after buying an additional 1,240 shares in the last quarter. Finally, RK Asset Management LLC grew its stake in shares of SEI Investments by 8.1% during the 3rd quarter. RK Asset Management LLC now owns 73,165 shares of the asset manager's stock valued at $5,062,000 after acquiring an additional 5,465 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm's stock in a transaction on 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 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 171,194 shares of company stock worth $14,579,872 over the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded down $0.06 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. The company has a 50-day simple moving average of $83.48 and a 200 day simple moving average of $75.32. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The company has a market cap of $11.12 billion, a P/E ratio of 19.51, a PEG ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, equities research analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently declared 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 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 presently 22.17%.

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

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.