King Luther Capital Management Corp Decreases Stock Holdings in SEI Investments Company $SEIC

King Luther Capital Management Corp trimmed its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 9.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 124,726 shares of the asset manager’s stock after selling 13,539 shares during the period. King Luther Capital Management Corp’s holdings in SEI Investments were worth $10,583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Root Financial Partners LLC purchased a new position in SEI Investments in the 3rd quarter worth approximately $28,000. SJS Investment Consulting Inc. boosted its position in SEI Investments by 142.9% in the 3rd quarter. SJS Investment Consulting Inc. now owns 357 shares of the asset manager’s stock valued at $30,000 after buying an additional 210 shares during the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the second quarter worth about $34,000. Addison Advisors LLC boosted its holdings in SEI Investments by 117.6% in the second quarter. Addison Advisors LLC now owns 457 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 247 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its holdings in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the sale, the chief executive officer directly owned 197,164 shares in the company, valued at $17,224,247.04. The trade was a 28.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction dated 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 completion of the transaction, the chairman owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. This represents a 0.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 14.60% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Piper Sandler upped their price objective on SEI Investments from $102.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. UBS Group assumed coverage on SEI Investments in a report on Wednesday, February 4th. They set a “buy” rating and a $115.00 target price on the stock. Finally, Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.17.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $80.57 on Friday. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The firm has a market capitalization of $9.86 billion, a PE ratio of 14.31 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. The business’s fifty day moving average price is $84.31 and its two-hundred day moving average price is $84.37.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.04). The firm had revenue of $607.93 million for the quarter, compared to analyst estimates of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The company’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 earnings per share. On average, research analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated a stock repurchase plan on Friday, October 24th that authorizes the company to repurchase $650.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were paid 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 payout ratio is presently 18.47%.

SEI Investments 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.