Inspire Investing LLC Acquires 5,803 Shares of SEI Investments Company $SEIC

Inspire Investing LLC raised its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 16.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,194 shares of the asset manager’s stock after purchasing an additional 5,803 shares during the quarter. Inspire Investing LLC’s holdings in SEI Investments were worth $3,495,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SEIC. Ethic Inc. increased its position in SEI Investments by 3.0% during the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after buying an additional 133 shares during the period. Fifth Third Bancorp lifted its position in shares of SEI Investments by 12.0% during the 2nd quarter. Fifth Third Bancorp now owns 1,315 shares of the asset manager’s stock valued at $118,000 after acquiring an additional 141 shares during the period. Concurrent Investment Advisors LLC lifted its position in shares of SEI Investments by 3.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after acquiring an additional 179 shares during the period. Clark Capital Management Group Inc. increased its position in shares of SEI Investments by 1.2% in the first quarter. Clark Capital Management Group Inc. now owns 15,195 shares of the asset manager’s stock worth $1,180,000 after purchasing an additional 183 shares during the period. Finally, WealthCollab LLC raised its stake in SEI Investments by 33.7% in the second quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after purchasing an additional 193 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SEIC has been the topic of several recent analyst reports. Zacks Research lowered SEI Investments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 11th. Morgan Stanley boosted their target price on SEI Investments from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. Keefe, Bruyette & Woods upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $93.00 to $97.00 in a research report on Tuesday, December 16th. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Finally, Piper Sandler upgraded shares of SEI Investments from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $93.00 to $102.00 in a report on Tuesday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.00.

Insiders Place Their Bets

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $85.66, for a total transaction of $856,600.00. Following the completion of the sale, the director directly owned 75,641 shares in the company, valued at approximately $6,479,408.06. This trade represents a 11.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the completion of the transaction, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This trade represents a 0.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 14.60% of the company’s stock.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $86.50 on Thursday. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 15.90 and a beta of 0.98. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The company’s fifty day moving average is $81.70 and its 200 day moving average is $85.58. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. The firm had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.19 EPS. Sell-side analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, January 12th. Investors of record on Monday, December 29th will be paid a dividend of $0.52 per share. This represents a yield of 125.0%. The ex-dividend date of this dividend is Monday, December 29th. SEI Investments’s dividend payout ratio (DPR) is currently 18.01%.

SEI Investments declared that its board has initiated a share repurchase program on Friday, October 24th that allows the company to buyback $650.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 6.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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.