SEI Investments (NASDAQ:SEIC) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc cut its stake in SEI Investments (NASDAQ:SEICFree Report) by 10.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,303 shares of the asset manager’s stock after selling 625 shares during the period. CIBC Asset Management Inc’s holdings in SEI Investments were worth $337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Gould Capital LLC raised its position in SEI Investments by 1.3% during the 3rd quarter. Gould Capital LLC now owns 14,744 shares of the asset manager’s stock worth $872,000 after buying an additional 195 shares during the last quarter. VisionPoint Advisory Group LLC raised its position in SEI Investments by 67.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares during the last quarter. Fiera Capital Corp raised its position in SEI Investments by 2.7% during the 3rd quarter. Fiera Capital Corp now owns 8,215 shares of the asset manager’s stock worth $495,000 after buying an additional 215 shares during the last quarter. Metis Global Partners LLC raised its position in SEI Investments by 4.3% during the 4th quarter. Metis Global Partners LLC now owns 5,584 shares of the asset manager’s stock worth $355,000 after buying an additional 231 shares during the last quarter. Finally, Treasurer of the State of North Carolina raised its position in SEI Investments by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 46,128 shares of the asset manager’s stock worth $2,778,000 after buying an additional 235 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

SEI Investments stock opened at $64.94 on Tuesday. The company’s fifty day moving average price is $67.80 and its 200 day moving average price is $65.93. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54. The stock has a market capitalization of $8.53 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.32 and a beta of 1.02.

SEI Investments (NASDAQ:SEICGet Free Report) last released its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. The firm had revenue of $511.58 million for the quarter, compared to analysts’ expectations of $510.41 million. During the same quarter last year, the company earned $0.79 EPS. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. Sell-side analysts predict that SEI Investments will post 4.13 EPS for the current year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Monday, June 10th will be paid a $0.46 dividend. The ex-dividend date is Monday, June 10th. This represents a $1.84 dividend on an annualized basis and a yield of 2.83%. This is a boost from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s dividend payout ratio (DPR) is currently 25.14%.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 19,363 shares of SEI Investments stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $72.14, for a total value of $1,396,846.82. Following the sale, the chairman now owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 48,000 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the completion of the sale, the chairman now owns 7,677,471 shares of the company’s stock, valued at $522,759,000.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the completion of the sale, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 287,363 shares of company stock valued at $20,081,067. 14.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on SEIC. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $74.00 price target (up from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Piper Sandler cut their target price on shares of SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a report on Thursday, April 25th. Oppenheimer lifted their target price on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, SEI Investments currently has a consensus rating of “Hold” and a consensus price target of $71.00.

View Our Latest Stock Report on SEI Investments

SEI Investments Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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