abrdn plc Sells 459 Shares of SEI Investments (NASDAQ:SEIC)

abrdn plc lowered its stake in shares of SEI Investments (NASDAQ:SEIC – Get Rating) by 4.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,249 shares of the asset manager’s stock after selling 459 shares during the period. abrdn plc’s holdings in SEI Investments were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Artemis Wealth Advisors LLC purchased a new stake in SEI Investments during the first quarter worth $40,000. UMB Bank N A MO purchased a new stake in SEI Investments during the fourth quarter worth $52,000. Lazard Asset Management LLC lifted its holdings in shares of SEI Investments by 114.4% during the 4th quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager’s stock valued at $53,000 after purchasing an additional 469 shares during the last quarter. Covestor Ltd acquired a new stake in shares of SEI Investments in the 4th quarter worth $60,000. Finally, Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in shares of SEI Investments in the 1st quarter worth $60,000. Hedge funds and other institutional investors own 70.44% of the company’s stock.

SEI Investments Stock Performance

NASDAQ SEIC opened at $56.02 on Thursday. The stock has a 50-day simple moving average of $54.74 and a two-hundred day simple moving average of $56.92. The firm has a market capitalization of $7.59 billion, a P/E ratio of 13.43, a PEG ratio of 1.24 and a beta of 0.99. SEI Investments has a fifty-two week low of $51.07 and a fifty-two week high of $65.22.

SEI Investments (NASDAQ:SEIC – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.83 by ($0.02). The company had revenue of $481.67 million for the quarter, compared to analysts’ expectations of $472.18 million. SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.93 EPS. As a group, analysts forecast that SEI Investments will post 3.71 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a stock buyback plan on Wednesday, June 1st that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 22nd. Shareholders of record on Monday, June 13th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, June 10th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.86%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.37. SEI Investments’s dividend payout ratio (DPR) is presently 19.18%.

Insider Buying and Selling at SEI Investments

In related news, insider Dennis Mcgonigle sold 35,000 shares of SEI Investments stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $55.15, for a total value of $1,930,250.00. Following the completion of the transaction, the insider now owns 576,663 shares in the company, valued at approximately $31,802,964.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 25.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Piper Sandler lowered their price objective on SEI Investments to $61.00 and set an “outperform” rating for the company in a research report on Wednesday, July 27th. The Goldman Sachs Group lowered their price objective on SEI Investments to $58.00 in a research report on Friday, July 22nd. Keefe, Bruyette & Woods lowered their price target on SEI Investments from $62.00 to $55.00 in a research report on Thursday, July 14th. StockNews.com cut SEI Investments from a “buy” rating to a “hold” rating in a research report on Friday, July 22nd. Finally, William Blair reaffirmed a “mkt perform” rating on shares of SEI Investments in a research report on Monday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $60.50.

SEI Investments Profile

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SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.