SEI Investments Company (NASDAQ:SEIC) Shares Sold by Cerity Partners LLC

Cerity Partners LLC lessened its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 13.5% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 19,283 shares of the asset manager's stock after selling 3,011 shares during the quarter. Cerity Partners LLC's holdings in SEI Investments were worth $1,497,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Alps Advisors Inc. grew its position in SEI Investments by 9.7% in the first quarter. Alps Advisors Inc. now owns 278,328 shares of the asset manager's stock valued at $21,607,000 after acquiring an additional 24,495 shares in the last quarter. Linden Thomas Advisory Services LLC grew its position in SEI Investments by 1.6% in the first quarter. Linden Thomas Advisory Services LLC now owns 22,833 shares of the asset manager's stock valued at $1,773,000 after acquiring an additional 354 shares in the last quarter. Crossmark Global Holdings Inc. grew its position in SEI Investments by 11.6% in the first quarter. Crossmark Global Holdings Inc. now owns 9,339 shares of the asset manager's stock valued at $725,000 after acquiring an additional 970 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in SEI Investments by 2.9% in the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager's stock valued at $435,000 after acquiring an additional 160 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in SEI Investments in the first quarter valued at approximately $132,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Transactions at SEI Investments

In related news, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the transaction, the insider owned 23,895 shares in the company, valued at $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,126 shares of company stock valued at $19,638,659. Company insiders own 14.60% of the company's stock.

SEI Investments Stock Down 0.2%

Shares of SEI Investments stock traded down $0.21 on Friday, hitting $89.58. 117,687 shares of the company's stock traded hands, compared to its average volume of 863,241. The stock has a market cap of $11.15 billion, a P/E ratio of 16.81, a PEG ratio of 1.53 and a beta of 0.92. The firm's 50-day moving average is $87.58 and its 200 day moving average is $81.77. SEI Investments Company has a 52-week low of $62.38 and a 52-week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 30.12% and a net margin of 31.25%. The firm had revenue of $559.60 million for the quarter, compared to analysts' expectations of $550.72 million. During the same period last year, the business posted $1.05 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were paid a dividend of $0.49 per share. The ex-dividend date was Monday, June 9th. This is a boost from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.19%. SEI Investments's dividend payout ratio (DPR) is 21.30%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley reaffirmed an "overweight" rating and issued a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Oppenheimer increased their target price on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Piper Sandler reduced their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Thursday. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 target price (down from $100.00) on shares of SEI Investments in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $102.00.

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.