Tandem Investment Advisors Inc. Sells 1,975 Shares of SEI Investments (NASDAQ:SEIC)

Tandem Investment Advisors Inc. trimmed its position in SEI Investments (NASDAQ:SEIC) by 22.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 7,012 shares of the asset manager’s stock after selling 1,975 shares during the period. Tandem Investment Advisors Inc.’s holdings in SEI Investments were worth $578,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SEIC. Allworth Financial LP boosted its holdings in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. lifted its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the period. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the 3rd quarter valued at about $45,000. Principal Securities Inc. grew its position in shares of SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after buying an additional 155 shares during the period. Finally, Global Retirement Partners LLC grew its position in shares of SEI Investments by 13.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,450 shares of the asset manager’s stock worth $120,000 after buying an additional 169 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the sale, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. The trade was a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In the last three months, insiders sold 171,194 shares of company stock valued at $14,579,872. 14.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SEIC has been the topic of several analyst reports. Oppenheimer increased their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Morgan Stanley lifted their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Finally, Piper Sandler raised their target price on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $90.00.

SEI Investments Stock Down 0.7 %

Shares of SEIC stock opened at $82.24 on Friday. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm has a fifty day moving average of $83.29 and a 200-day moving average of $76.44. The firm has a market capitalization of $10.60 billion, a price-to-earnings ratio of 18.61, a price-to-earnings-growth ratio of 1.42 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were given a $0.49 dividend. The ex-dividend date was Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is currently 22.17%.

SEI Investments Company Profile

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.