SEI Investments Company $SEIC Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 935.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,115 shares of the asset manager’s stock after buying an additional 33,530 shares during the period. Y Intercept Hong Kong Ltd’s holdings in SEI Investments were worth $3,149,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Farther Finance Advisors LLC grew its stake in SEI Investments by 33.4% in the second quarter. Farther Finance Advisors LLC now owns 1,780 shares of the asset manager’s stock valued at $160,000 after purchasing an additional 446 shares in the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of SEI Investments by 114.3% in the 2nd quarter. First Citizens Bank & Trust Co. now owns 21,324 shares of the asset manager’s stock valued at $1,916,000 after buying an additional 11,373 shares in the last quarter. Norges Bank bought a new position in SEI Investments during the second quarter valued at approximately $55,685,000. 111 Capital acquired a new stake in SEI Investments in the second quarter valued at approximately $941,000. Finally, iSAM Funds UK Ltd bought a new stake in SEI Investments in the second quarter worth approximately $1,804,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research report on Thursday, January 8th. Raymond James Financial restated an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a report on Monday, January 5th. Piper Sandler raised shares of SEI Investments from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $93.00 to $102.00 in a research report on Tuesday, December 23rd. Morgan Stanley boosted their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 6th. Finally, Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Six analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and a consensus price target of $107.80.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 0.6%

Shares of SEIC stock opened at $85.70 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 5.62 and a current ratio of 5.73. The firm has a fifty day moving average of $83.36 and a 200-day moving average of $85.20. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of 15.70 and a beta of 0.97.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 29th. This represents a yield of 124.0%. SEI Investments’s dividend payout ratio is currently 19.12%.

SEI Investments announced that its Board of Directors has approved a share buyback program on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.