Allianz Asset Management GmbH Grows Holdings in SEI Investments Company $SEIC

Allianz Asset Management GmbH grew its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 21.1% in the third quarter, Holdings Channel reports. 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’s holdings in SEI Investments were worth $14,786,000 at the end of the most recent quarter.

A number of other hedge funds 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 about $422,000. Atlantic Union Bankshares Corp bought a new position in SEI Investments in the 3rd quarter worth about $280,000. State of Wyoming increased 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 worth $642,000 after acquiring an additional 3,155 shares during the period. Convergence Investment Partners LLC increased its position in shares of SEI Investments by 22.8% during the third quarter. Convergence Investment Partners LLC now owns 24,464 shares of the asset manager’s stock worth $2,076,000 after acquiring an additional 4,541 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake 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 valued at $21,401,000 after acquiring an additional 147,938 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the sale, 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was 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 directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. The trade was a 28.86% decrease in their position. The SEC filing for this sale provides additional information. 14.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SEIC has been the topic of several research analyst reports. Piper Sandler increased their price objective on SEI Investments from $102.00 to $109.00 and gave the stock an “overweight” rating in a research note on Thursday, January 29th. Morgan Stanley increased their price target on SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $117.00 target price on shares of SEI Investments in a report on Monday, January 5th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and an average target price of $110.17.

SEI Investments Trading Up 0.0%

Shares of NASDAQ SEIC opened at $84.45 on Friday. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The business has a fifty day moving average price of $84.49 and a 200 day moving average price of $84.87. The stock has a market capitalization of $10.34 billion, a P/E 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.

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

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Friday, October 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

SEI Investments Dividend Announcement

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

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.