ABN Amro Investment Solutions Sells 43,555 Shares of SEI Investments Company $SEIC

ABN Amro Investment Solutions decreased its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 40.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,295 shares of the asset manager’s stock after selling 43,555 shares during the period. ABN Amro Investment Solutions’ holdings in SEI Investments were worth $5,455,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Loomis Sayles & Co. L P raised its holdings in SEI Investments by 1.4% during the second quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager’s stock valued at $794,475,000 after buying an additional 121,198 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after acquiring an additional 133,057 shares during the last quarter. First Trust Advisors LP raised its stake in shares of SEI Investments by 9.1% in the 2nd quarter. First Trust Advisors LP now owns 1,727,334 shares of the asset manager’s stock valued at $155,218,000 after acquiring an additional 144,789 shares in the last quarter. Azora Capital LP lifted its holdings in SEI Investments by 109.3% in the 2nd quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock worth $69,907,000 after purchasing an additional 406,287 shares during the last quarter. Finally, Norges Bank bought a new stake in SEI Investments during the second quarter worth approximately $55,685,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analyst Ratings Changes

SEIC has been the topic of a number of recent analyst reports. Morgan Stanley lifted their price target on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 price target on shares of SEI Investments in a research report on Monday, January 5th. Finally, Piper Sandler lifted 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. 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, SEI Investments currently has a consensus rating of “Moderate Buy” and an average target price of $110.17.

SEI Investments Stock Up 1.7%

Shares of SEIC opened at $78.63 on Monday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.20 and a current ratio of 3.29. The company has a 50-day simple moving average of $84.50 and a 200-day simple moving average of $84.54. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The firm has a market capitalization of $9.63 billion, a P/E ratio of 13.97 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.04). The firm had revenue of $607.93 million for 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 company’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 earnings per share. On average, equities research analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Dividend Announcement

The company also recently disclosed a dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were given 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 payout ratio is currently 18.47%.

SEI Investments declared that its Board of Directors has approved a share repurchase program 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 programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Ryan Hicke sold 80,000 shares of the stock in a transaction on 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 transaction, the chief executive officer owned 197,164 shares in the company, valued at approximately $17,224,247.04. This represents a 28.86% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’s stock in a transaction dated 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 transaction, the chairman directly owned 6,942,812 shares of the company’s stock, valued at $561,465,206.44. The trade was a 0.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 14.30% of the company’s stock.

About SEI Investments

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.