Cetera Investment Advisers Has $511,000 Stake in SEI Investments Company (NASDAQ:SEIC)

Cetera Investment Advisers increased its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 26.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,582 shares of the asset manager’s stock after purchasing an additional 1,364 shares during the quarter. Cetera Investment Advisers’ holdings in SEI Investments were worth $511,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of SEIC. Mariner LLC boosted its position in SEI Investments by 5.2% in the 4th quarter. Mariner LLC now owns 8,404 shares of the asset manager’s stock valued at $693,000 after buying an additional 419 shares during the last quarter. CreativeOne Wealth LLC bought a new position in SEI Investments in the 4th quarter valued at $242,000. Carbahal Olsen Financial Services Group LLC bought a new position in SEI Investments in the 4th quarter valued at $330,000. BI Asset Management Fondsmaeglerselskab A S boosted its position in SEI Investments by 47.1% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,382 shares of the asset manager’s stock valued at $2,176,000 after buying an additional 8,450 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its position in SEI Investments by 8.3% in the 4th quarter. MetLife Investment Management LLC now owns 55,261 shares of the asset manager’s stock valued at $4,558,000 after buying an additional 4,219 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on SEIC shares. Raymond James Financial increased their price objective on SEI Investments from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Piper Sandler reduced their price objective on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Oppenheimer raised their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, SEI Investments has a consensus rating of “Moderate Buy” and a consensus target price of $102.00.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the transaction, the insider directly owned 1,300 shares of the company’s stock, valued at $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the transaction, the chairman directly owned 7,003,708 shares in the company, valued at approximately $600,778,072.24. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,126 shares of company stock worth $12,450,349. Insiders own 14.60% of the company’s stock.

SEI Investments Price Performance

SEI Investments stock opened at $88.19 on Friday. The company’s 50 day simple moving average is $88.60 and its 200 day simple moving average is $82.39. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 1.37 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.60. The company had revenue of $559.60 million for the quarter, compared to analysts’ expectations of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. As a group, analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments’s payout ratio is 18.39%.

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.