Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stake in SEI Investments Company $SEIC

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in SEI Investments Company (NASDAQ:SEIC) by 63.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,566 shares of the asset manager’s stock after acquiring an additional 6,442 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in SEI Investments were worth $1,300,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bison Wealth LLC purchased a new position in SEI Investments in the fourth quarter worth $207,000. Baird Financial Group Inc. acquired a new stake in SEI Investments in the 1st quarter worth approximately $201,000. Geneos Wealth Management Inc. boosted its stake in SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. M&T Bank Corp grew its position in SEI Investments by 11.9% during the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock worth $289,000 after purchasing an additional 341 shares during the last quarter. Finally, CW Advisors LLC purchased a new stake in SEI Investments during the 2nd quarter worth approximately $280,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the company’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the sale, the chairman owned 6,825,783 shares of the company’s stock, valued at approximately $595,549,566.75. This represents a 0.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total value of $364,640.00. Following the completion of the sale, the insider directly owned 921 shares of the company’s stock, valued at $83,958.36. This trade represents a 81.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 111,332 shares of company stock valued at $9,908,883 in the last ninety days. 4.80% of the stock is currently owned by corporate insiders.

SEI Investments Stock Performance

NASDAQ SEIC opened at $98.17 on Thursday. The stock has a market capitalization of $11.81 billion, a price-to-earnings ratio of 16.75 and a beta of 0.97. The stock has a 50-day moving average of $90.68 and a 200 day moving average of $85.39. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $98.58.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same period last year, the company posted $1.17 EPS. SEI Investments’s quarterly revenue was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments Company will post 5.98 EPS for the current fiscal year.

SEI Investments Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a $0.52 dividend. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is currently 17.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Piper Sandler raised their price target on shares of SEI Investments from $105.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a research note on Friday, July 10th. Raymond James Financial increased their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Morgan Stanley raised their price objective on SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $116.20.

SEI Investments 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.