Crestwood Advisors Group LLC Sells 152,396 Shares of SEI Investments Company $SEIC

Crestwood Advisors Group LLC cut its holdings in SEI Investments Company (NASDAQ:SEIC) by 75.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,797 shares of the asset manager’s stock after selling 152,396 shares during the period. Crestwood Advisors Group LLC’s holdings in SEI Investments were worth $4,140,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC raised its position in shares of SEI Investments by 349.2% during the third quarter. Ashton Thomas Private Wealth LLC now owns 63,902 shares of the asset manager’s stock worth $5,422,000 after purchasing an additional 49,676 shares during the period. BI Asset Management Fondsmaeglerselskab A S increased its stake in SEI Investments by 3,554.3% during the 3rd quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,042 shares of the asset manager’s stock valued at $2,295,000 after purchasing an additional 26,302 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in SEI Investments by 21.1% during the third quarter. Allianz Asset Management GmbH now owns 174,266 shares of the asset manager’s stock worth $14,786,000 after buying an additional 30,411 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of SEI Investments by 141.8% in the third quarter. Thrivent Financial for Lutherans now owns 252,231 shares of the asset manager’s stock valued at $21,401,000 after buying an additional 147,938 shares in the last quarter. Finally, First Citizens Bank & Trust Co. grew its holdings in shares of SEI Investments by 114.3% during the second quarter. First Citizens Bank & Trust Co. now owns 21,324 shares of the asset manager’s stock valued at $1,916,000 after buying an additional 11,373 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of SEIC opened at $79.02 on Wednesday. The stock has a 50 day moving average of $84.41 and a 200 day moving average of $84.42. The company has a market capitalization of $9.68 billion, a price-to-earnings ratio of 14.04 and a beta of 0.95. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 earnings per share (EPS) for the quarter, missing 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 for the quarter was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 EPS. As a group, sell-side analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Dividend Announcement

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

SEI Investments announced that its board has approved a stock buyback plan on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SEIC shares. UBS Group began coverage on shares of SEI Investments in a report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 target price on the stock. Zacks Research downgraded SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Morgan Stanley lifted their target price on 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 upped their price target on SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Finally, Piper Sandler raised their price objective on SEI Investments from $102.00 to $109.00 and gave the company an “overweight” rating in a research note on Thursday, January 29th. Seven research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.17.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the firm’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 transaction of $2,003,149.90. Following the completion of the sale, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. This trade represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of the company’s stock in a transaction that occurred 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. The trade was a 28.86% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 14.30% of the stock is owned by insiders.

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.