Short Interest in SEI Investments (NASDAQ:SEIC) Drops By 10.7%
SEI Investments (NASDAQ:SEIC) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 1,670,000 shares, a drop of 10.7% from the December 15th total of 1,870,000 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average daily trading volume, of 589,600 shares, the short-interest ratio is presently 2.8 days.
Several equities analysts recently weighed in on SEIC shares. Oppenheimer increased their price objective on shares of SEI Investments from $66.00 to $70.00 in a report on Thursday, November 14th. BidaskClub cut shares of SEI Investments from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, ValuEngine lowered shares of SEI Investments from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $65.67.
NASDAQ SEIC traded down $0.50 on Tuesday, reaching $65.67. The company had a trading volume of 389,364 shares, compared to its average volume of 435,711. SEI Investments has a 52 week low of $45.38 and a 52 week high of $67.14. The stock’s 50 day moving average is $65.27 and its 200-day moving average is $60.34. The company has a quick ratio of 5.59, a current ratio of 5.74 and a debt-to-equity ratio of 0.02. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.48 and a beta of 1.31.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, December 26th. This represents a $1.40 dividend on an annualized basis and a yield of 2.13%. This is a boost from SEI Investments’s previous quarterly dividend of $0.33. SEI Investments’s payout ratio is currently 22.29%.
In other news, Director William Doran sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $66.94, for a total value of $200,820.00. Following the transaction, the director now owns 671,915 shares of the company’s stock, valued at approximately $44,977,990.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Mccarthy sold 9,500 shares of the firm’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $61.49, for a total transaction of $584,155.00. Following the completion of the transaction, the director now directly owns 80,700 shares in the company, valued at approximately $4,962,243. The disclosure for this sale can be found here. Insiders sold a total of 187,050 shares of company stock worth $12,057,138 over the last quarter. Corporate insiders own 22.60% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Signaturefd LLC boosted its position in shares of SEI Investments by 95.0% during the third quarter. Signaturefd LLC now owns 433 shares of the asset manager’s stock worth $26,000 after purchasing an additional 211 shares in the last quarter. Cutler Group LP raised its stake in SEI Investments by 113.5% during the 3rd quarter. Cutler Group LP now owns 565 shares of the asset manager’s stock worth $33,000 after buying an additional 4,765 shares during the period. Meeder Asset Management Inc. raised its stake in SEI Investments by 375.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 680 shares of the asset manager’s stock worth $40,000 after buying an additional 537 shares during the period. Quest Capital Management Inc. ADV bought a new position in SEI Investments during the third quarter worth about $86,000. Finally, Huntington National Bank lifted its holdings in SEI Investments by 53.3% during the third quarter. Huntington National Bank now owns 1,613 shares of the asset manager’s stock worth $96,000 after acquiring an additional 561 shares in the last quarter. 68.54% of the stock is owned by hedge funds and other institutional investors.
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.
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