Hennion & Walsh Asset Management Inc. lowered its position in SEI Investments (NASDAQ:SEIC – Free Report) by 8.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 8,625 shares of the asset manager’s stock after selling 753 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in SEI Investments were worth $496,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. CoreCap Advisors LLC bought a new position in SEI Investments in the 4th quarter worth $26,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in SEI Investments in the 4th quarter worth $42,000. International Assets Investment Management LLC purchased a new stake in SEI Investments in the 1st quarter worth $45,000. Denali Advisors LLC lifted its stake in SEI Investments by 1,860.5% in the 4th quarter. Denali Advisors LLC now owns 843 shares of the asset manager’s stock worth $49,000 after purchasing an additional 800 shares in the last quarter. Finally, Quadrant Capital Group LLC lifted its stake in SEI Investments by 95.4% in the 4th quarter. Quadrant Capital Group LLC now owns 1,180 shares of the asset manager’s stock worth $69,000 after purchasing an additional 576 shares in the last quarter. Institutional investors own 68.07% of the company’s stock.
SEI Investments Trading Up 0.3 %
Shares of NASDAQ SEIC opened at $59.19 on Friday. The firm’s 50-day moving average price is $58.41 and its 200-day moving average price is $59.03. The stock has a market capitalization of $7.89 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 1.43 and a beta of 1.02. SEI Investments has a 12-month low of $46.30 and a 12-month high of $64.69.
SEI Investments Announces Dividend
The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, June 21st. Investors of record on Monday, June 12th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, June 9th. This represents a yield of 1.5%. SEI Investments’s payout ratio is 29.86%.
SEI Investments declared that its Board of Directors has approved a share buyback program on Tuesday, April 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 3.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several analysts have commented on the stock. Morgan Stanley boosted their price target on shares of SEI Investments from $60.00 to $62.00 in a research note on Wednesday. Piper Sandler assumed coverage on shares of SEI Investments in a research note on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 price target on the stock. Oppenheimer reiterated an “outperform” rating and issued a $68.00 price target on shares of SEI Investments in a research note on Tuesday, April 4th. Finally, StockNews.com began coverage on shares of SEI Investments in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and an average target price of $61.60.
Insider Activity at SEI Investments
In related news, Chairman Alfred P. West, Jr. sold 46,647 shares of the company’s 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 transaction, the chairman now directly owns 8,519,720 shares in the company, valued at approximately $502,578,282.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 41,304 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $485,649,968.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 46,647 shares of the company’s stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $58.99, for a total transaction of $2,751,706.53. Following the completion of the transaction, the chairman now owns 8,519,720 shares in the company, valued at $502,578,282.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,974 shares of company stock worth $5,135,471. Insiders own 15.50% of the company’s stock.
About SEI Investments
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.
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