SEI Investments (NASDAQ:SEIC) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank boosted its stake in SEI Investments (NASDAQ:SEIC) by 10.2% during the third quarter, HoldingsChannel reports. The institutional investor owned 40,991 shares of the asset manager’s stock after buying an additional 3,784 shares during the quarter. Toronto Dominion Bank’s holdings in SEI Investments were worth $2,836,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Fairfield Financial Advisors LTD acquired a new stake in shares of SEI Investments in the second quarter valued at about $30,000. First Horizon Advisors Inc. grew its stake in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after acquiring an additional 232 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in SEI Investments by 925.9% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 500 shares during the last quarter. Point72 DIFC Ltd purchased a new position in SEI Investments in the 3rd quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 purchasing an additional 168 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

SEIC stock opened at $85.83 on Monday. SEI Investments has a one year low of $61.28 and a one year high of $87.25. The firm has a market cap of $11.06 billion, a PE ratio of 20.73, a PEG ratio of 1.62 and a beta of 0.98. The firm’s 50 day moving average price is $78.17 and its 200-day moving average price is $70.69.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company’s revenue for the quarter was up 12.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 earnings per share. Equities research analysts predict that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be given a $0.49 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio is presently 23.67%.

SEI Investments declared that its board has authorized a stock repurchase plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 4.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on SEIC shares. Oppenheimer increased their price target on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Piper Sandler raised their target price on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. Finally, Morgan Stanley lifted their price target on SEI Investments from $70.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, October 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $77.50.

Insiders Place Their Bets

In other news, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at $11,055,914.10. This trade represents a 6.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Michael Peterson sold 25,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now owns 6,500 shares in the company, valued at $484,835. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 93,058 shares of company stock valued at $7,245,697 over the last 90 days. 14.30% of the stock is owned by company insiders.

SEI Investments 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.