SG Americas Securities LLC Has $426,000 Holdings in SEI Investments Company (NASDAQ:SEIC)

SG Americas Securities LLC lessened its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 77.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,488 shares of the asset manager's stock after selling 19,311 shares during the period. SG Americas Securities LLC's holdings in SEI Investments were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in SEIC. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments during the 4th quarter worth about $31,000. Allworth Financial LP grew its position in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the period. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after purchasing an additional 117 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in SEI Investments in the 4th quarter valued at $55,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SEIC. Morgan Stanley set a $84.00 target price on SEI Investments and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Finally, Piper Sandler lifted their price target on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $88.00.

SEI Investments Trading Up 1.7%

SEIC stock traded up $1.42 during mid-day trading on Tuesday, hitting $86.15. The stock had a trading volume of 1,042,506 shares, compared to its average volume of 732,954. The firm has a fifty day simple moving average of $81.69 and a 200 day simple moving average of $80.56. The firm has a market capitalization of $10.72 billion, a P/E ratio of 18.73, a P/E/G ratio of 1.51 and a beta of 0.91. SEI Investments Company has a 52 week low of $62.38 and a 52 week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The business had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period last year, the firm posted $0.99 earnings per share. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts expect that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 2.28%. SEI Investments's payout ratio is 21.30%.

SEI Investments announced that its Board of Directors has approved a stock buyback plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 23,895 shares of the company's stock, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of SEI Investments stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the transaction, the chairman now owns 6,937,582 shares in the company, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock worth $19,638,659 in the last three months. 14.30% of the stock is owned by corporate insiders.

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.