Commerce Bank Boosts Holdings in SEI Investments (NASDAQ:SEIC)

Commerce Bank raised its stake in shares of SEI Investments (NASDAQ:SEIC) by 11.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,146 shares of the asset manager’s stock after purchasing an additional 1,105 shares during the period. Commerce Bank’s holdings in SEI Investments were worth $661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SEIC. FMR LLC lifted its holdings in SEI Investments by 19.9% during the first quarter. FMR LLC now owns 211,097 shares of the asset manager’s stock valued at $11,030,000 after purchasing an additional 35,067 shares in the last quarter. First Trust Advisors LP purchased a new position in SEI Investments during the first quarter valued at $1,155,000. Advisor Group Holdings Inc. lifted its stake in shares of SEI Investments by 3.0% in the second quarter. Advisor Group Holdings Inc. now owns 10,310 shares of the asset manager’s stock worth $639,000 after buying an additional 305 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of SEI Investments by 40.0% in the second quarter. American Century Companies Inc. now owns 13,807 shares of the asset manager’s stock worth $855,000 after buying an additional 3,942 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of SEI Investments by 13.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 22,796 shares of the asset manager’s stock worth $1,413,000 after buying an additional 2,629 shares in the last quarter. 68.54% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments stock opened at $62.65 on Friday. SEI Investments has a 12-month low of $52.12 and a 12-month high of $65.22. The stock has a market cap of $8.74 billion, a P/E ratio of 17.16, a PEG ratio of 1.30 and a beta of 1.09. The company has a 50-day moving average price of $62.24 and a 200 day moving average price of $61.60.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Tuesday, October 19th. The asset manager reported $0.97 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.02. SEI Investments had a net margin of 28.34% and a return on equity of 29.24%. The firm had revenue of $485.32 million during the quarter, compared to analysts’ expectations of $482.33 million. During the same period last year, the business earned $0.75 earnings per share. SEI Investments’s revenue was up 14.2% compared to the same quarter last year. Research analysts anticipate that SEI Investments will post 3.76 earnings per share for the current fiscal year.

The business also recently declared a Semi-Annual dividend, which was paid on Friday, January 7th. Shareholders of record on Tuesday, December 21st were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Monday, December 20th. This is a boost from SEI Investments’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.2%. SEI Investments’s dividend payout ratio (DPR) is currently 21.92%.

SEI Investments declared that its Board of Directors has authorized a share repurchase plan on Monday, December 13th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to buy up to 2.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

Several research firms have recently weighed in on SEIC. Truist Securities began coverage on shares of SEI Investments in a research note on Tuesday, November 2nd. They issued a “hold” rating and a $67.00 price target on the stock. Truist began coverage on shares of SEI Investments in a research note on Tuesday, November 2nd. They issued a “hold” rating and a $67.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $68.20.

In related news, EVP Kevin Barr sold 40,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, November 30th. The shares were sold at an average price of $59.63, for a total value of $2,385,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Dennis Mcgonigle sold 17,500 shares of SEI Investments stock in a transaction that occurred on Wednesday, November 3rd. The shares were sold at an average price of $62.79, for a total transaction of $1,098,825.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,500 shares of company stock valued at $4,193,755. Company insiders own 23.86% of the company’s stock.

About SEI Investments

SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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