Two Sigma Advisers LP Lowers Position in SEI Investments (NASDAQ:SEIC)

Two Sigma Advisers LP lowered its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 29.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,100 shares of the asset manager's stock after selling 20,600 shares during the quarter. Two Sigma Advisers LP's holdings in SEI Investments were worth $4,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the fourth quarter worth $31,000. Allworth Financial LP increased its holdings 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. First Horizon Advisors Inc. increased its stake in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of SEI Investments in the fourth quarter valued at about $55,000. Finally, EverSource Wealth Advisors LLC raised its stake in SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Piper Sandler upped their price target on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Finally, Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.60.

SEI Investments Stock Performance

SEIC stock traded up $0.52 during mid-day trading on Friday, reaching $85.36. The company had a trading volume of 249,573 shares, compared to its average volume of 681,101. The firm has a fifty day simple moving average of $77.81 and a 200 day simple moving average of $80.23. The company has a market capitalization of $10.63 billion, a price-to-earnings ratio of 19.37, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. The firm had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.99 earnings per share. As a group, analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 9th will be issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.30%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, June 9th. SEI Investments's dividend payout ratio is 21.30%.

SEI Investments announced that its Board of Directors has authorized a share buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company's stock, valued at $539,963,846.24. The trade was a 0.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares of the company's stock, valued at approximately $104,507. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 170,214 shares of company stock worth $13,925,963 over the last three months. Insiders own 14.60% of the company's stock.

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.