Brown Advisory Inc. Has $1.16 Million Stock Position in SEI Investments Company (NASDAQ:SEIC)

Brown Advisory Inc. reduced its position in SEI Investments Company (NASDAQ:SEIC) by 97.4% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,939 shares of the asset manager’s stock after selling 553,088 shares during the period. Brown Advisory Inc.’s holdings in SEI Investments were worth $1,160,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of SEIC. CoreFirst Bank & Trust acquired a new stake in SEI Investments in the 4th quarter valued at about $31,000. Versant Capital Management Inc raised its holdings in SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 331 shares during the period. First Horizon Advisors Inc. raised its holdings in SEI Investments by 38.9% in the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager’s stock valued at $62,000 after acquiring an additional 225 shares during the period. EverSource Wealth Advisors LLC raised its holdings in SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager’s stock valued at $71,000 after acquiring an additional 172 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in SEI Investments by 33.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 943 shares of the asset manager’s stock valued at $77,000 after acquiring an additional 238 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Trading Down 1.6%

Shares of SEIC opened at $92.33 on Monday. SEI Investments Company has a 12 month low of $62.38 and a 12 month high of $93.82. The firm’s 50 day moving average is $85.89 and its 200-day moving average is $81.19. The stock has a market capitalization of $11.49 billion, a PE ratio of 20.07, a P/E/G ratio of 1.57 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The company had revenue of $551.34 million for the quarter, compared to analysts’ expectations of $556.76 million. During the same period last year, the firm earned $0.99 earnings per share. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. Equities research analysts predict that SEI Investments Company will post 4.86 earnings per share for the current fiscal 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 given a dividend of $0.49 per share. This is a positive change from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 annualized dividend and a dividend yield of 2.12%. SEI Investments’s dividend payout ratio (DPR) is currently 21.30%.

SEI Investments announced that its board has initiated a stock buyback program on Tuesday, March 18th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

SEIC has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of SEI Investments from $79.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. William Blair reissued a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a report on Friday, April 25th. Oppenheimer increased their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

Insider Activity

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

SEI Investments Company 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.