Alps Advisors Inc. Sells 40,073 Shares of SEI Investments Company $SEIC

Alps Advisors Inc. lowered its stake in SEI Investments Company (NASDAQ:SEIC) by 14.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 236,376 shares of the asset manager’s stock after selling 40,073 shares during the period. Alps Advisors Inc. owned approximately 0.19% of SEI Investments worth $20,057,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SEIC. Arizona State Retirement System boosted its holdings in shares of SEI Investments by 0.4% in the 3rd quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock worth $2,656,000 after purchasing an additional 129 shares during the period. Ethic Inc. lifted its position in SEI Investments by 3.0% in the second quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after buying an additional 133 shares during the last quarter. Concurrent Investment Advisors LLC boosted its stake in SEI Investments by 3.2% during the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock worth $519,000 after buying an additional 179 shares during the period. WealthCollab LLC increased its position in SEI Investments by 33.7% during the second quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 193 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $84.45 on Monday. The firm’s 50 day simple moving average is $84.49 and its 200-day simple moving average is $84.83. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The firm has a market cap of $10.34 billion, a PE ratio of 15.00 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.04. The company had revenue of $607.93 million for the quarter, compared to analysts’ expectations of $596.97 million. SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.SEI Investments’s revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 earnings per share. As a group, equities analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is currently 18.47%.

SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of research firms recently commented on SEIC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Thursday, January 22nd. Piper Sandler boosted their target price on SEI Investments from $102.00 to $109.00 and gave the company an “overweight” rating in a research report on Thursday, January 29th. UBS Group started coverage on SEI Investments in a research note on Wednesday. They set a “buy” rating and a $115.00 target price on the stock. Keefe, Bruyette & Woods raised their price target on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $110.17.

Insider Activity

In other news, CEO Ryan Hicke sold 80,000 shares of the business’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the sale, the chief executive officer owned 197,164 shares in the company, valued at approximately $17,224,247.04. The trade was a 28.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares in the company, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 14.30% of the company’s stock.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.