Hahn Capital Management LLC cut its position in SEI Investments Company (NASDAQ:SEIC – Free Report) by 6.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 101,877 shares of the asset manager’s stock after selling 6,490 shares during the period. SEI Investments accounts for approximately 4.5% of Hahn Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Hahn Capital Management LLC’s holdings in SEI Investments were worth $8,356,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the company. Community Bank N.A. purchased a new position in shares of SEI Investments in the 3rd quarter worth approximately $35,000. Allworth Financial LP lifted its position in SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 339 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC boosted its stake in SEI Investments by 266.9% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 411 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at SEI Investments
In other news, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at $3,589,389.48. This trade represents a 38.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Philip Mccabe sold 15,000 shares of SEI Investments stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total value of $1,377,300.00. Following the sale, the insider directly owned 54,884 shares of the company’s stock, valued at $5,039,448.88. This trade represents a 21.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 54,000 shares of company stock worth $4,905,640. 4.80% of the stock is owned by insiders.
SEI Investments Trading Down 1.7%
SEI Investments (NASDAQ:SEIC – Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping the consensus estimate of $1.29 by $0.15. The business had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.17 earnings per share. On average, analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current year.
SEI Investments Dividend Announcement
The company also recently declared a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s payout ratio is currently 17.75%.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on SEIC. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target on shares of SEI Investments in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods raised their price objective on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Finally, Morgan Stanley lowered their price target on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.
Get Our Latest Research Report on SEIC
SEI Investments Company 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.
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