SEI Investments Company $SEIC Stock Position Raised by Kathmere Capital Management LLC

Kathmere Capital Management LLC lifted its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 25.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,022 shares of the asset manager’s stock after purchasing an additional 19,000 shares during the period. Kathmere Capital Management LLC’s holdings in SEI Investments were worth $7,893,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SEIC. Farther Finance Advisors LLC boosted its stake in shares of SEI Investments by 33.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,780 shares of the asset manager’s stock valued at $160,000 after buying an additional 446 shares during the period. First Citizens Bank & Trust Co. raised its holdings in shares of SEI Investments by 114.3% during the second quarter. First Citizens Bank & Trust Co. now owns 21,324 shares of the asset manager’s stock worth $1,916,000 after acquiring an additional 11,373 shares in the last quarter. Norges Bank acquired a new stake in SEI Investments during the second quarter valued at $55,685,000. 111 Capital purchased a new position in SEI Investments in the second quarter valued at about $941,000. Finally, iSAM Funds UK Ltd purchased a new position in SEI Investments in the second quarter valued at about $1,804,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SEIC shares. Piper Sandler upgraded SEI Investments from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $93.00 to $102.00 in a report on Tuesday, December 23rd. Keefe, Bruyette & Woods raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $93.00 to $97.00 in a research report on Tuesday, December 16th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Raymond James Financial restated an “outperform” rating and set a $117.00 price target on shares of SEI Investments in a research note on Monday. Finally, Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 11th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $106.40.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the sale, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. This represents a 0.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 4.7%

Shares of SEIC stock opened at $86.95 on Tuesday. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The company has a market cap of $10.65 billion, a PE ratio of 15.98 and a beta of 0.97. The company has a quick ratio of 5.62, a current ratio of 5.73 and a debt-to-equity ratio of 0.04. The business’s 50 day moving average is $82.08 and its two-hundred day moving average is $85.62.

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

SEI Investments Dividend Announcement

The company also recently declared a dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be issued a dividend of $0.52 per share. This represents a yield of 124.0%. The ex-dividend date is Monday, December 29th. SEI Investments’s dividend payout ratio is 19.12%.

SEI Investments declared that its Board of Directors has initiated a share buyback program on Friday, October 24th that authorizes the company to buyback $650.00 million in outstanding shares. This buyback authorization authorizes the asset manager to buy up to 6.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its stock is 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.