Algert Global LLC Cuts Stock Position in SEI Investments Company $SEIC

Key Points

• Algert Global LLC has reduced its stake in SEI Investments by 25.2%, selling 13,037 shares in the first quarter, leaving it with a total holding valued at approximately $3 million.
• SEI Investments recently reported strong earnings, with an EPS of $1.78, surpassing analysts' estimates by $0.60, and revenue increasing by 7.8% year-over-year.
• The company has declared an increase in its quarterly dividend to $0.49, which equates to a 2.2% yield and a payout ratio of 18.39%.

Algert Global LLC reduced its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 25.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,744 shares of the asset manager's stock after selling 13,037 shares during the quarter. Algert Global LLC's holdings in SEI Investments were worth $3,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings in shares of SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after acquiring an additional 225 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in shares of SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after acquiring an additional 681 shares during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of SEI Investments by 1,563.4% in the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after acquiring an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of SEI Investments in the 1st quarter valued at about $132,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SEI Investments

In other news, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction that occurred on 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 directly owned 1,300 shares of the company's stock, valued at $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. Insiders sold 181,126 shares of company stock valued at $15,540,849 in the last 90 days. Insiders own 14.60% of the company's stock.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of recent research reports. Oppenheimer boosted 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. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Piper Sandler lowered 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, July 24th. Morgan Stanley reissued an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Finally, Raymond James Financial boosted their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

SEI Investments Price Performance

SEIC traded up $2.01 during midday trading on Friday, reaching $90.15. 451,945 shares of the company's stock traded hands, compared to its average volume of 703,548. The firm has a fifty day moving average of $89.09 and a two-hundred day moving average of $82.48. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 1.40 and a beta of 0.95. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. The business had revenue of $559.60 million during 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%.SEI Investments's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.05 EPS. Sell-side analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a yield of 2.2%. 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. SEI Investments's dividend payout ratio is currently 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.