Great Diamond Partners LLC Takes Position in SEI Investments (NASDAQ:SEIC)

Great Diamond Partners LLC purchased a new position in shares of SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 2,463 shares of the asset manager’s stock, valued at approximately $203,000.

Other large investors have also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in shares of SEI Investments by 29.4% in the second quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock worth $766,000 after buying an additional 2,689 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position 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 worth $77,000 after acquiring an additional 168 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in SEI Investments in the 2nd quarter worth approximately $2,775,000. Handelsbanken Fonder AB grew its position in SEI Investments by 8.5% in the third quarter. Handelsbanken Fonder AB now owns 26,900 shares of the asset manager’s stock valued at $1,861,000 after acquiring an additional 2,100 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of SEI Investments by 58.5% during the third quarter. GAMMA Investing LLC now owns 3,360 shares of the asset manager’s stock valued at $232,000 after purchasing an additional 1,240 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have 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 for the company in a research note on Thursday. Morgan Stanley upped their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday. Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Finally, Piper Sandler lifted their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $90.00.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $86.58 on Friday. The company has a market capitalization of $11.16 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock has a 50-day simple moving average of $83.17 and a 200 day simple moving average of $74.81.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.41% and a net margin of 27.35%. On average, equities research analysts forecast that SEI Investments will post 4.89 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a dividend yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. SEI Investments’s dividend payout ratio is 22.17%.

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

Insider Transactions at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $514,410. This trade represents a 60.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the transaction, the chairman now owns 7,232,922 shares of the company’s stock, valued at $616,461,942.06. This represents a 0.71 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 186,194 shares of company stock worth $15,769,472. 14.30% of the stock is currently owned by insiders.

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.