Janney Montgomery Scott LLC Takes Position in SEI Investments Company (NASDAQ:SEIC)

Janney Montgomery Scott LLC bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,654 shares of the asset manager’s stock, valued at approximately $206,000.

A number of other large investors have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC increased its position in shares of SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock valued at $492,000 after purchasing an additional 145 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of SEI Investments by 0.9% in the 4th quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager’s stock worth $1,424,000 after buying an additional 158 shares during the period. Meiji Yasuda Life Insurance Co lifted its stake in shares of SEI Investments by 3.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager’s stock worth $379,000 after purchasing an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of SEI Investments by 25.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock worth $71,000 after purchasing an additional 172 shares during the last quarter. Finally, GHE LLC raised its stake in SEI Investments by 2.0% in the fourth quarter. GHE LLC now owns 9,126 shares of the asset manager’s stock valued at $753,000 after buying an additional 183 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

SEI Investments stock opened at $93.10 on Monday. The company has a market capitalization of $11.59 billion, a P/E ratio of 20.24, a PEG ratio of 1.62 and a beta of 0.92. SEI Investments Company has a fifty-two week low of $62.38 and a fifty-two week high of $93.75. The stock has a 50-day simple moving average of $84.46 and a 200-day simple moving average of $80.88.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The company had revenue of $551.34 million for the quarter, compared to analysts’ expectations of $556.76 million. During the same quarter in the previous year, the firm posted $0.99 EPS. The firm’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from SEI Investments’s previous quarterly dividend of $0.46. SEI Investments’s dividend payout ratio is currently 21.30%.

SEI Investments declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SEIC. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods raised their target price on SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research report on Friday, April 25th. Oppenheimer lifted their price objective on SEI Investments from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Monday, June 30th. William Blair reissued a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $100.00 price objective (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $95.00.

Insider Transactions at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the sale, the insider owned 23,895 shares of the company’s stock, valued at approximately $1,992,843. This represents a 45.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Peterson sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the completion of the sale, the executive vice president directly owned 13,500 shares in the company, valued at approximately $1,137,645. The trade was a 78.74% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,126 shares of company stock worth $19,638,659. 14.30% of the stock is currently owned by insiders.

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.