SEI Investments Company (NASDAQ:SEIC) Stock Position Lessened by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. reduced its stake in SEI Investments Company by 62.1%, owning 5,533 shares after selling 9,074 shares in the first quarter.
• Insider Sanjay Sharma sold 20,000 shares of SEI Investments stock for approximately $1.67 million, reducing their ownership by 45.56%.
• SEI Investments recently increased its quarterly dividend to $0.49 per share, reflecting a strong annual dividend yield of 2.3%.

Pacer Advisors Inc. reduced its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 62.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,533 shares of the asset manager's stock after selling 9,074 shares during the period. Pacer Advisors Inc.'s holdings in SEI Investments were worth $430,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SEIC. Cetera Investment Advisers lifted its position in SEI Investments by 26.1% during the 1st quarter. Cetera Investment Advisers now owns 6,582 shares of the asset manager's stock worth $511,000 after acquiring an additional 1,364 shares in the last quarter. Advisor OS LLC lifted its position in SEI Investments by 20.1% during the 1st quarter. Advisor OS LLC now owns 6,131 shares of the asset manager's stock worth $476,000 after acquiring an additional 1,028 shares in the last quarter. AE Wealth Management LLC acquired a new position in SEI Investments during the 1st quarter worth approximately $299,000. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in SEI Investments by 21.2% during the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,951 shares of the asset manager's stock worth $6,750,000 after acquiring an additional 15,207 shares in the last quarter. Finally, Gallacher Capital Management LLC acquired a new position in SEI Investments during the 1st quarter worth approximately $223,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider directly owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the company'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 of the company's stock, valued at approximately $1,992,843. The trade was a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 237,126 shares of company stock worth $20,082,409. Corporate insiders own 14.30% of the company's stock.

Analysts Set New Price Targets

SEIC has been the topic of several recent research reports. Piper Sandler reduced their price target 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. Oppenheimer upped their target price on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen raised 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 target price (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $98.00 target price (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.09 during trading on Wednesday, reaching $87.90. The stock had a trading volume of 220,403 shares, compared to its average volume of 866,797. SEI Investments Company has a one year low of $63.74 and a one year high of $93.96. The stock has a market cap of $10.87 billion, a PE ratio of 16.50, a P/E/G ratio of 1.40 and a beta of 0.95. The firm's 50 day moving average price is $88.14 and its two-hundred day moving average price is $82.17.

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

SEI Investments Increases Dividend

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

SEI Investments Company 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.