SEI Investments (NASDAQ:SEIC) Shares Sold by Baker Tilly Wealth Management LLC

Baker Tilly Wealth Management LLC lowered its holdings in SEI Investments (NASDAQ:SEIC) by 32.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,521 shares of the asset manager’s stock after selling 2,175 shares during the period. Baker Tilly Wealth Management LLC’s holdings in SEI Investments were worth $292,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SEIC. TFO Wealth Partners LLC increased its position in shares of SEI Investments by 6,277.8% in the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after acquiring an additional 565 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of SEI Investments by 78.3% in the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock worth $41,000 after acquiring an additional 275 shares in the last quarter. Bessemer Group Inc. increased its position in shares of SEI Investments by 184.7% in the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock worth $43,000 after acquiring an additional 386 shares in the last quarter. Mather Group LLC. increased its position in shares of SEI Investments by 181.2% in the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock worth $50,000 after acquiring an additional 500 shares in the last quarter. Finally, Evolution Advisers Inc. purchased a new position in shares of SEI Investments in the fourth quarter worth approximately $55,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling

In related news, Director William Doran sold 5,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the transaction, the director now owns 656,386 shares of the company’s stock, valued at $44,004,117.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 14.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of research analyst reports. Piper Sandler lowered their price objective on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price objective (down from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, SEI Investments has a consensus rating of “Hold” and a consensus target price of $71.25.

SEI Investments Stock Performance

Shares of SEI Investments stock traded up $0.39 on Friday, reaching $67.14. The stock had a trading volume of 421,039 shares, compared to its average volume of 586,527. The business’s 50-day moving average price is $65.84 and its two-hundred day moving average price is $67.14. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54. The stock has a market cap of $8.82 billion, a P/E ratio of 18.34, a price-to-earnings-growth ratio of 1.30 and a beta of 0.99.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. SEI Investments had a net margin of 25.44% and a return on equity of 23.25%. The business had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. During the same period in the previous year, the company earned $0.89 earnings per share. SEI Investments’s revenue for the quarter was up 6.1% on a year-over-year basis. As a group, equities analysts forecast that SEI Investments will post 4.18 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.84 dividend on an annualized basis and a yield of 2.74%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s payout ratio is 25.14%.

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.