SEI Investments (NASDAQ:SEIC) Short Interest Update

Posted by Defense World Staff on Jul 7th, 2023

SEI Investments (NASDAQ:SEIC – Free Report) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 1,620,000 shares, a decrease of 18.6% from the May 31st total of 1,990,000 shares. Based on an average daily trading volume, of 533,100 shares, the short-interest ratio is currently 3.0 days. Approximately 1.5% of the company’s shares are short sold.

SEI Investments Stock Down 0.3 %

SEI Investments stock opened at $59.00 on Friday. SEI Investments has a twelve month low of $46.30 and a twelve month high of $64.69. The company has a market capitalization of $7.87 billion, a P/E ratio of 20.49, a PEG ratio of 1.44 and a beta of 1.02. The stock’s 50 day moving average is $58.40 and its 200 day moving average is $59.02.

SEI Investments (NASDAQ:SEIC – Free Report) last released its earnings results on Thursday, April 20th. The asset manager reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.03). The company had revenue of $469.12 million during the quarter, compared to analysts’ expectations of $468.79 million. SEI Investments had a return on equity of 22.29% and a net margin of 20.88%. The company’s revenue was down 19.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.36 earnings per share. As a group, equities analysts expect that SEI Investments will post 3.42 EPS for the current year.

SEI Investments Dividend Announcement

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, June 21st. Stockholders of record on Monday, June 12th were paid a $0.43 dividend. The ex-dividend date was Friday, June 9th. This represents a dividend yield of 1.5%. SEI Investments’s dividend payout ratio is presently 29.86%.

SEI Investments declared that its Board of Directors has authorized a share repurchase program on Tuesday, April 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently commented on SEIC shares. Oppenheimer reaffirmed an “outperform” rating and issued a $68.00 price target on shares of SEI Investments in a research note on Tuesday, April 4th. Morgan Stanley raised their target price on shares of SEI Investments from $60.00 to $62.00 in a research report on Wednesday. Piper Sandler began coverage on shares of SEI Investments in a research report on Wednesday, March 29th. They set a “neutral” rating and a $60.00 price target on the stock. Finally, StockNews.com started coverage on shares of SEI Investments in a report on Thursday, May 18th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, SEI Investments presently has a consensus rating of “Hold” and an average target price of $61.60.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 41,304 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $57.68, for a total value of $2,382,414.72. Following the completion of the sale, the chairman now owns 8,419,729 shares of the company’s stock, valued at approximately $485,649,968.72. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 46,647 shares of the stock in a transaction dated Tuesday, June 20th. The shares were sold at an average price of $58.99, for a total transaction of $2,751,706.53. Following the completion of the sale, the chairman now directly owns 8,519,720 shares in the company, valued at $502,578,282.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 41,304 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $57.68, for a total value of $2,382,414.72. Following the transaction, the chairman now directly owns 8,419,729 shares of the company’s stock, valued at approximately $485,649,968.72. The disclosure for this sale can be found here. Insiders sold a total of 87,974 shares of company stock worth $5,135,471 over the last three months. Company insiders own 15.50% of the company’s stock.

Hedge Funds Weigh In On SEI Investments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. increased its holdings in shares of SEI Investments by 1.1% in the 3rd quarter. Baird Financial Group Inc. now owns 15,900 shares of the asset manager’s stock worth $780,000 after purchasing an additional 172 shares in the last quarter. Toroso Investments LLC raised its position in SEI Investments by 0.9% in the 4th quarter. Toroso Investments LLC now owns 24,261 shares of the asset manager’s stock worth $1,414,000 after buying an additional 213 shares during the last quarter. M&T Bank Corp lifted its stake in SEI Investments by 1.4% during the 3rd quarter. M&T Bank Corp now owns 16,808 shares of the asset manager’s stock valued at $826,000 after acquiring an additional 227 shares during the period. Captrust Financial Advisors boosted its holdings in shares of SEI Investments by 4.2% during the 2nd quarter. Captrust Financial Advisors now owns 5,694 shares of the asset manager’s stock valued at $308,000 after acquiring an additional 230 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of SEI Investments by 13.1% in the first quarter. Tower Research Capital LLC TRC now owns 2,033 shares of the asset manager’s stock worth $117,000 after acquiring an additional 236 shares during the period. 68.07% of the stock is owned by institutional investors.

About SEI Investments

(Free Report)

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.