Precision Wealth Strategies LLC Invests $491,000 in SEI Investments Company $SEIC

Precision Wealth Strategies LLC purchased a new position in shares of SEI Investments Company (NASDAQ:SEIC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,792 shares of the asset manager’s stock, valued at approximately $491,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. boosted its position in shares of SEI Investments by 76.9% in the 3rd quarter. Pacer Advisors Inc. now owns 16,314 shares of the asset manager’s stock worth $1,384,000 after purchasing an additional 7,090 shares during the last quarter. Inspire Investing LLC lifted its stake in SEI Investments by 16.4% in the third quarter. Inspire Investing LLC now owns 41,194 shares of the asset manager’s stock valued at $3,495,000 after buying an additional 5,803 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in SEI Investments by 97.2% during the third quarter. Harbor Capital Advisors Inc. now owns 980 shares of the asset manager’s stock worth $83,000 after buying an additional 483 shares during the last quarter. Norden Group LLC acquired a new position in shares of SEI Investments during the 3rd quarter worth about $230,000. Finally, HBK Sorce Advisory LLC raised its position in shares of SEI Investments by 0.6% in the 3rd quarter. HBK Sorce Advisory LLC now owns 58,275 shares of the asset manager’s stock valued at $4,930,000 after acquiring an additional 341 shares during the period. 70.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on SEIC. Raymond James Financial upped their target price on shares of SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Zacks Research lowered shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Piper Sandler raised SEI Investments from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $93.00 to $102.00 in a research note on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upgraded SEI Investments from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $93.00 to $97.00 in a report on Tuesday, December 16th. Six equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.00.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the transaction, the chairman directly owned 6,942,812 shares in the company, valued at $561,465,206.44. This represents a 0.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction dated Monday, September 29th. The shares were sold at an average price of $85.66, for a total value 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 represents a 11.68% decrease in their position. The SEC filing for this sale provides additional information. 14.60% of the stock is owned by company insiders.

SEI Investments Stock Performance

SEIC opened at $86.50 on Friday. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of 15.90 and a beta of 0.98. The business’s 50-day moving average price is $81.82 and its two-hundred day moving average price is $85.59. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. SEI Investments had a return on equity of 30.21% and a net margin of 31.09%.The business had revenue of $578.51 million during the quarter, compared to the consensus estimate of $578.75 million. During the same period last year, the company earned $1.19 earnings per share. SEI Investments’s quarterly revenue was up 7.6% on a year-over-year basis. Equities analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, January 12th. Stockholders of record on Monday, December 29th will be paid a dividend of $0.52 per share. This represents a dividend 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 authorized a stock repurchase plan on Friday, October 24th that permits the company to repurchase $650.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

About SEI Investments

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.