SEI Investments (NASDAQ:SEIC) Short Interest Update

SEI Investments (NASDAQ:SEIC) was the recipient of a significant drop in short interest during the month of November. As of November 30th, there was short interest totalling 1,340,000 shares, a drop of 16.8% from the November 15th total of 1,610,000 shares. Based on an average daily volume of 658,900 shares, the days-to-cover ratio is currently 2.0 days. Approximately 1.4% of the shares of the company are short sold.

Insider Buying and Selling

In other news, EVP Michael Peterson sold 25,000 shares of the 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 sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $484,835. This represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the transaction, the chief executive officer now owns 147,609 shares of the company’s stock, valued at $11,055,914.10. This represents a 6.34 % decrease in their position. 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 ninety days. 14.30% of the stock is owned by insiders.

Institutional Trading of SEI Investments

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Fairfield Financial Advisors LTD acquired a new position in SEI Investments during the second quarter worth about $30,000. First Horizon Advisors Inc. boosted its position in shares of SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake 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 worth $38,000 after purchasing an additional 500 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in SEI Investments during the third quarter valued at approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings 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 buying an additional 168 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SEIC. Oppenheimer boosted their price target on shares of SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler boosted their target price on shares of SEI Investments from $74.00 to $77.00 and gave the company a “neutral” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley raised their price target on shares of SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

Shares of SEIC opened at $85.83 on Friday. SEI Investments has a one year low of $61.28 and a one year high of $87.25. The stock’s fifty day moving average is $78.17 and its 200-day moving average is $70.63. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 20.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. The firm had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Analysts forecast that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its shares are undervalued.

SEI Investments Increases Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be given 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 is Friday, December 27th. SEI Investments’s dividend payout ratio is 22.22%.

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.