Allianz Asset Management GmbH Acquires 30,411 Shares of SEI Investments Company $SEIC

Allianz Asset Management GmbH lifted its holdings in SEI Investments Company (NASDAQ:SEIC) by 21.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,266 shares of the asset manager’s stock after acquiring an additional 30,411 shares during the period. Allianz Asset Management GmbH owned 0.14% of SEI Investments worth $14,786,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SEIC. Peterson Wealth Services purchased a new position in SEI Investments in the 3rd quarter worth approximately $422,000. Atlantic Union Bankshares Corp bought a new stake in shares of SEI Investments during the third quarter valued at approximately $280,000. State of Wyoming raised its position in shares of SEI Investments by 71.5% during the third quarter. State of Wyoming now owns 7,565 shares of the asset manager’s stock valued at $642,000 after buying an additional 3,155 shares during the last quarter. Convergence Investment Partners LLC lifted its holdings in shares of SEI Investments by 22.8% in the third quarter. Convergence Investment Partners LLC now owns 24,464 shares of the asset manager’s stock worth $2,076,000 after buying an additional 4,541 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of SEI Investments by 141.8% during the third quarter. Thrivent Financial for Lutherans now owns 252,231 shares of the asset manager’s stock worth $21,401,000 after acquiring an additional 147,938 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity

In other SEI Investments news, CEO Ryan Hicke sold 80,000 shares of the firm’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 of the company’s stock, valued at $17,224,247.04. This trade represents a 28.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. This trade represents a 0.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 14.60% of the stock is currently owned by company insiders.

SEI Investments Price Performance

NASDAQ:SEIC opened at $84.45 on Friday. The firm has a market capitalization of $10.34 billion, a price-to-earnings ratio of 15.00 and a beta of 0.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. The business has a 50 day simple moving average of $84.49 and a 200-day simple moving average of $84.87. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96.

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

SEI Investments declared that its board has initiated a share buyback plan on Friday, October 24th that allows the company to buyback $650.00 million in shares. This buyback authorization allows the asset manager to buy up to 6.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

SEI Investments Announces Dividend

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

Analyst Ratings Changes

SEIC has been the topic of a number of research reports. Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Thursday, January 22nd. Raymond James Financial reissued an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a research note on Monday, January 5th. Keefe, Bruyette & Woods raised their price target on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, UBS Group assumed coverage on SEI Investments in a report on Wednesday. They set a “buy” rating and a $115.00 price objective on the stock. Seven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.17.

SEI Investments Company 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.