Cooper Financial Group acquired a new position in SEI Investments (NASDAQ:SEIC – Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,885 shares of the asset manager’s stock, valued at approximately $320,000.
Other institutional investors also recently modified their holdings of the company. Daiwa Securities Group Inc. boosted its stake in SEI Investments by 5.4% during the second quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the asset manager’s stock worth $505,000 after buying an additional 400 shares in the last quarter. American Century Companies Inc. increased its stake in SEI Investments by 7.5% in the second quarter. American Century Companies Inc. now owns 311,459 shares of the asset manager’s stock valued at $20,148,000 after acquiring an additional 21,632 shares during the period. DekaBank Deutsche Girozentrale raised its position in SEI Investments by 8.2% in the second quarter. DekaBank Deutsche Girozentrale now owns 6,900 shares of the asset manager’s stock worth $444,000 after purchasing an additional 525 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in SEI Investments by 16.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 17,214 shares of the asset manager’s stock worth $1,114,000 after purchasing an additional 2,380 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in SEI Investments by 1.2% during the second quarter. Envestnet Asset Management Inc. now owns 381,372 shares of the asset manager’s stock valued at $24,671,000 after purchasing an additional 4,656 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.
SEI Investments Stock Performance
Shares of SEIC stock opened at $80.81 on Wednesday. The stock’s fifty day moving average is $82.15 and its 200-day moving average is $73.15. The stock has a market capitalization of $10.42 billion, a PE ratio of 19.52, a PEG ratio of 1.62 and a beta of 0.98. SEI Investments has a 52 week low of $62.34 and a 52 week high of $87.25.
SEI Investments declared that its board has authorized a stock repurchase plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
SEI Investments Increases Dividend
The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. This represents a yield of 1.1%. SEI Investments’s dividend payout ratio is currently 23.67%.
Insider Buying and Selling at SEI Investments
In other SEI Investments news, Chairman Alfred P. West, Jr. sold 94,158 shares of SEI Investments stock in a transaction on Friday, December 13th. The shares were sold at an average price of $85.73, for a total transaction of $8,072,165.34. Following the completion of the sale, the chairman now owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $74.90, for a total value of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares in the company, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 239,258 shares of company stock worth $19,753,402. Insiders own 14.30% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on SEIC. Morgan Stanley increased their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. Piper Sandler upped their target price on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and an average price target of $86.75.
Read Our Latest Analysis on SEIC
SEI Investments Profile
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.
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