Wilmington Savings Fund Society FSB Trims Stock Position in SEI Investments (NASDAQ:SEIC)

Wilmington Savings Fund Society FSB reduced its position in SEI Investments (NASDAQ:SEIC - Free Report) by 67.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,775 shares of the asset manager's stock after selling 3,635 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in SEI Investments were worth $146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aurora Investment Counsel raised its position in SEI Investments by 0.6% in the 3rd quarter. Aurora Investment Counsel now owns 25,162 shares of the asset manager's stock worth $1,741,000 after purchasing an additional 144 shares during the period. Creative Planning increased its position in shares of SEI Investments by 2.3% during the third quarter. Creative Planning now owns 8,086 shares of the asset manager's stock worth $559,000 after acquiring an additional 182 shares during the period. Procyon Advisors LLC increased its position in shares of SEI Investments by 0.5% during the fourth quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager's stock worth $2,936,000 after acquiring an additional 187 shares during the period. First Horizon Advisors Inc. increased its position in shares of SEI Investments by 101.3% during the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after acquiring an additional 232 shares during the period. Finally, Private Advisor Group LLC increased its position in shares of SEI Investments by 9.4% during the third quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager's stock worth $246,000 after acquiring an additional 306 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,010 shares of the firm's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the transaction, the chairman now owns 7,377,506 shares of the company's stock, valued at approximately $608,570,469.94. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 171,194 shares of company stock worth $14,579,872 over the last three months. Corporate insiders own 14.30% of the company's stock.

SEI Investments Stock Down 0.4 %

Shares of NASDAQ SEIC traded down $0.34 during midday trading on Friday, reaching $82.28. 504,234 shares of the company's stock traded hands, compared to its average volume of 545,812. The stock's 50 day simple moving average is $83.52 and its 200-day simple moving average is $76.12. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 18.62, a P/E/G ratio of 1.48 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its 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 net margin of 27.35% and a return on equity of 25.51%. Equities analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. This represents a yield of 1.1%. This is an increase from SEI Investments's previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments's dividend payout ratio (DPR) is 22.17%.

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