Fifth Third Bancorp Has $2.09 Million Holdings in SEI Investments Company $SEIC

Fifth Third Bancorp increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 2,077.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,690 shares of the asset manager’s stock after acquiring an additional 25,464 shares during the period. Fifth Third Bancorp’s holdings in SEI Investments were worth $2,094,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allworth Financial LP increased its stake in shares of SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after buying an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 339 shares during the last quarter. Root Financial Partners LLC lifted its position in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after buying an additional 141 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC grew its holdings in SEI Investments by 266.9% during the 4th quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock worth $46,000 after acquiring an additional 411 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the director directly owned 77,883 shares of the company’s stock, valued at $7,092,804.81. This represents a 11.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $595,549,566.75. This represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 111,332 shares of company stock valued at $9,908,883. Corporate insiders own 4.80% of the company’s stock.

SEI Investments Price Performance

SEIC opened at $97.65 on Wednesday. The company has a fifty day moving average price of $91.31 and a two-hundred day moving average price of $85.83. The firm has a market capitalization of $11.74 billion, a PE ratio of 16.66 and a beta of 0.97. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $100.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52.

SEI Investments (NASDAQ:SEIC) last posted 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 return on equity of 30.70% and a net margin of 31.17%.The company had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. During the same quarter in the prior year, the business posted $1.17 EPS. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, analysts anticipate that SEI Investments Company will post 5.98 earnings per share for the current year.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were issued a $0.52 dividend. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s dividend payout ratio is currently 17.75%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of SEI Investments from $105.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Raymond James Financial upped their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Morgan Stanley increased their price objective on SEI Investments from $113.00 to $115.00 and gave the company an “overweight” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Friday. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $116.20.

SEI Investments Company 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.