Northern Trust Corp Cuts Stake in SEI Investments Company $SEIC

Key Points

• Northern Trust Corp reduced its stake in SEI Investments Company by 1.3%, now holding approximately 1,053,848 shares valued at $81.81 million as of the end of the first quarter.
• Various hedge funds have been active with SEI Investments, with Versant Capital Management Inc increasing its position by 156.1% during the same period, among other institutional movements.
• SEI Investments declared a quarterly dividend of $0.49, marking an increase from the previous dividend of $0.46, with an annualized yield of 2.2% and a payout ratio of 18.39%.

Northern Trust Corp cut its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,053,848 shares of the asset manager's stock after selling 14,333 shares during the quarter. Northern Trust Corp owned about 0.85% of SEI Investments worth $81,810,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares during the period. First Horizon Advisors Inc. raised its position in SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares during the period. Farther Finance Advisors LLC raised its position in SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after purchasing an additional 681 shares during the period. Cullen Frost Bankers Inc. raised its position in SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after purchasing an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in SEI Investments in the first quarter valued at about $132,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley reissued an "overweight" rating and issued a $100.00 price objective (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Raymond James Financial lifted their target price on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Piper Sandler dropped their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.00.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the transaction, the chairman directly owned 7,003,708 shares in the company, valued at approximately $600,778,072.24. This trade represents a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares of the company's stock, valued at $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,126 shares of company stock worth $15,540,849. Corporate insiders own 14.30% of the company's stock.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $90.15 on Monday. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 1.40 and a beta of 0.95. The stock's 50-day simple moving average is $89.09 and its 200-day simple moving average is $82.45.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. The business had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.05 earnings per share. As a group, research analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.2%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments's payout ratio is 18.39%.

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.

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