Procyon Advisors LLC Increases Stock Holdings in SEI Investments (NASDAQ:SEIC)

Procyon Advisors LLC raised its position in shares of SEI Investments (NASDAQ:SEIC) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,602 shares of the asset manager’s stock after acquiring an additional 187 shares during the period. Procyon Advisors LLC’s holdings in SEI Investments were worth $2,936,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of SEIC. First Horizon Advisors Inc. increased its holdings in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of SEI Investments by 925.9% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after buying an additional 500 shares during the period. Point72 DIFC Ltd bought a new stake in shares of SEI Investments in the third quarter valued at about $45,000. Northwestern Mutual Wealth Management Co. grew its holdings in SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after acquiring an additional 168 shares in the last quarter. Finally, Quarry LP acquired a new stake in SEI Investments in the second quarter valued at approximately $136,000. 70.59% of the stock is owned by institutional investors.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,010 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the sale, the chairman now directly owns 7,377,506 shares in the company, valued at $608,570,469.94. This represents a 0.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl Guarino sold 7,564 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $75.77, for a total transaction of $573,124.28. Following the completion of the transaction, the director now directly owns 13,867 shares of the company’s stock, valued at $1,050,702.59. This represents a 35.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 239,258 shares of company stock valued at $19,753,402. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Price Performance

NASDAQ SEIC opened at $82.96 on Friday. SEI Investments has a 1-year low of $62.34 and a 1-year high of $87.25. The company has a market cap of $10.69 billion, a PE ratio of 20.04, a price-to-earnings-growth ratio of 1.34 and a beta of 0.98. The stock’s 50 day simple moving average is $82.33 and its 200-day simple moving average is $73.39.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The firm had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same period in the previous year, the business posted $0.87 earnings per share. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts anticipate that SEI Investments will post 4.42 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has approved a share repurchase program on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to buy up to 4.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio is currently 23.67%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $86.75.

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.