Stonegate Investment Group LLC Has $282,000 Holdings in SEI Investments (NASDAQ:SEIC)

Stonegate Investment Group LLC decreased its position in shares of SEI Investments (NASDAQ:SEIC) by 7.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,420 shares of the asset manager’s stock after selling 269 shares during the quarter. Stonegate Investment Group LLC’s holdings in SEI Investments were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of SEIC. FMR LLC increased its stake in SEI Investments by 249.7% during the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after purchasing an additional 632,024 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after buying an additional 300,704 shares during the last quarter. Portman Square Capital LLP increased its position in shares of SEI Investments by 113.1% during the fourth quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock worth $1,436,000 after acquiring an additional 149,840 shares in the last quarter. UMB Bank n.a. acquired a new stake in shares of SEI Investments in the 4th quarter worth about $9,096,000. Finally, Verition Fund Management LLC lifted its position in SEI Investments by 2,766.3% in the 3rd quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after acquiring an additional 107,222 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SEIC. Oppenheimer boosted their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley increased their price target on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Piper Sandler lifted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Finally, Keefe, Bruyette & Woods increased their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a report on Friday, December 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $86.75.

SEI Investments Trading Up 1.1 %

SEIC stock opened at $84.39 on Wednesday. The stock has a market cap of $10.88 billion, a P/E ratio of 20.38, a P/E/G ratio of 1.44 and a beta of 0.98. The stock’s fifty day simple moving average is $82.88 and its two-hundred day simple moving average is $74.54. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a $0.49 dividend. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. The ex-dividend date was Friday, December 27th. SEI Investments’s payout ratio is 23.67%.

SEI Investments announced that its board has initiated a stock repurchase plan on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at SEI Investments

In other news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the completion of the transaction, the director now owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This represents a 0.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $85.23, for a total value of $4,435,539.66. Following the completion of the sale, the chairman now owns 7,232,922 shares in the company, valued at $616,461,942.06. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 186,194 shares of company stock worth $15,769,472. 14.30% of the stock is owned by company insiders.

About SEI Investments

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.