Cerity Partners LLC Cuts Stock Position in SEI Investments Company (NASDAQ:SEIC)

Cerity Partners LLC decreased its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 13.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,283 shares of the asset manager’s stock after selling 3,011 shares during the quarter. Cerity Partners LLC’s holdings in SEI Investments were worth $1,497,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SEIC. Norges Bank acquired a new stake in SEI Investments in the fourth quarter valued at $48,009,000. Raymond James Financial Inc. bought a new position in SEI Investments in the fourth quarter worth about $42,548,000. GAMMA Investing LLC lifted its position in SEI Investments by 9,563.5% in the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager’s stock valued at $36,526,000 after purchasing an additional 465,646 shares during the last quarter. FMR LLC grew its holdings in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after buying an additional 348,112 shares in the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in SEI Investments in the 4th quarter valued at about $23,710,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Morgan Stanley restated an “overweight” rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a report on Friday, April 25th. Finally, Oppenheimer increased their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total value of $5,573,099.28. Following the transaction, the chairman owned 6,937,582 shares of the company’s stock, valued at $584,699,410.96. This represents a 0.94% 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, CEO Ryan Hicke sold 21,000 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at $14,276,233.60. The trade was a 10.92% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,126 shares of company stock worth $19,638,659. Company insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $90.92 on Tuesday. The firm has a market cap of $11.32 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.58 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 $93.96. The business’s 50 day moving average price is $87.07 and its 200-day moving average price is $81.53.

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

SEI Investments Increases Dividend

The company also recently disclosed 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 represents a $1.96 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from SEI Investments’s previous quarterly dividend of $0.46. SEI Investments’s dividend payout ratio is 21.30%.

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.