Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Holdings in SEI Investments Company (NASDAQ:SEIC)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 5.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,109 shares of the asset manager’s stock after selling 2,128 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SEI Investments were worth $2,648,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. TD Asset Management Inc boosted its holdings in SEI Investments by 4.0% during the first quarter. TD Asset Management Inc now owns 144,964 shares of the asset manager’s stock worth $11,254,000 after buying an additional 5,590 shares in the last quarter. Mediolanum International Funds Ltd increased its holdings in SEI Investments by 2.3% during the 1st quarter. Mediolanum International Funds Ltd now owns 31,853 shares of the asset manager’s stock valued at $2,456,000 after acquiring an additional 729 shares in the last quarter. Cetera Investment Advisers increased its holdings in SEI Investments by 26.1% during the 1st quarter. Cetera Investment Advisers now owns 6,582 shares of the asset manager’s stock valued at $511,000 after acquiring an additional 1,364 shares in the last quarter. Advisor OS LLC increased its holdings in SEI Investments by 20.1% during the 1st quarter. Advisor OS LLC now owns 6,131 shares of the asset manager’s stock valued at $476,000 after acquiring an additional 1,028 shares in the last quarter. Finally, AE Wealth Management LLC purchased a new position in SEI Investments during the 1st quarter valued at about $299,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC opened at $86.45 on Friday. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.40 and a beta of 0.95. The company’s 50 day simple moving average is $88.02 and its 200 day simple moving average is $82.10. SEI Investments Company has a 1 year low of $62.38 and a 1 year high of $93.96.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.60. The business had revenue of $559.60 million for the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 earnings per share. Equities analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were issued a $0.49 dividend. This is a positive change from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. This represents a $1.96 annualized dividend and a yield of 2.3%. SEI Investments’s dividend payout ratio (DPR) is presently 18.39%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SEIC shares. Morgan Stanley restated an “overweight” rating and set a $100.00 target price (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Raymond James Financial raised their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Oppenheimer raised their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Piper Sandler dropped their target price on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a report on Thursday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

Insider Buying and Selling

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the sale, the insider owned 23,895 shares in the company, valued at $1,992,843. The trade was a 45.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of SEI Investments stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the sale, the chairman owned 6,937,582 shares of the company’s stock, valued at $584,699,410.96. This trade represents a 0.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 237,126 shares of company stock worth $20,082,409 over the last ninety days. Insiders own 14.60% of the company’s stock.

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.