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

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

Other hedge funds have also modified their holdings of the company. Ashton Thomas Securities LLC lifted its holdings in shares of SEI Investments by 2.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after purchasing an additional 145 shares during the period. Meiji Yasuda Life Insurance Co lifted its holdings in SEI Investments by 3.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager’s stock valued at $379,000 after acquiring an additional 160 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in SEI Investments by 2.9% in the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager’s stock valued at $435,000 after acquiring an additional 160 shares during the period. GHE LLC lifted its holdings 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 acquiring an additional 183 shares during the period. Finally, First Horizon Advisors Inc. lifted its holdings in SEI Investments by 38.9% in the first 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. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

SEI Investments Stock Performance

NASDAQ:SEIC opened at $90.92 on Tuesday. SEI Investments Company has a 1 year low of $62.38 and a 1 year high of $93.96. The stock has a market cap of $11.32 billion, a price-to-earnings ratio of 19.77, a PEG ratio of 1.58 and a beta of 0.92. The business has a fifty day moving average of $87.07 and a 200-day moving average of $81.53.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating 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 business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period in the prior year, the business posted $0.99 earnings per share. SEI Investments’s revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were paid a $0.49 dividend. This is an increase from SEI Investments’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.16%. The ex-dividend date was Monday, June 9th. SEI Investments’s dividend payout ratio is currently 21.30%.

Insiders Place Their Bets

In other SEI Investments news, CEO Ryan Hicke sold 21,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at $14,276,233.60. This represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael Peterson sold 50,000 shares of the stock in a transaction dated 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 transaction, the executive vice president directly owned 13,500 shares in the company, valued at approximately $1,137,645. This represents a 78.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock valued at $19,638,659 in the last 90 days. Insiders own 14.30% of the company’s stock.

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.