ABN Amro Investment Solutions Sells 10,475 Shares of SEI Investments Company $SEIC

ABN Amro Investment Solutions lessened its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 22.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,810 shares of the asset manager’s stock after selling 10,475 shares during the period. ABN Amro Investment Solutions’ holdings in SEI Investments were worth $2,810,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Allworth Financial LP increased its position 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 worth $37,000 after purchasing an additional 132 shares during the period. CIBC Private Wealth Group LLC lifted its position in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC lifted its position in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. raised its position in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Finally, Rothschild Investment LLC raised its position in SEI Investments by 266.9% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 411 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about SEI Investments

Here are the key news stories impacting SEI Investments this week:

• Positive Sentiment: SEI Investments beat Q2 earnings expectations, reporting $1.66 per share versus consensus around $1.44-$1.45, while revenue came in above estimates at $641.62 million. The company also said revenue rose 14.7% year over year and operating income increased 33%, with operating margin reaching 31%. Article Title
• Positive Sentiment: Management highlighted record growth in revenue and EPS in the Q2 earnings call, which should support confidence in the company’s operating momentum and ability to convert higher activity into profits. Article Title
• Positive Sentiment: Analysts turned more constructive after the report: Morgan Stanley raised its price target to $125 and reiterated an overweight rating, while Keefe, Bruyette & Woods lifted its target to $119 with an outperform rating. Article Title
• Positive Sentiment: Assets under management and assets under administration reportedly rose year over year, reinforcing that the business is still seeing healthy client inflows and scale benefits. Article Title
• Neutral Sentiment: Despite the earnings beat, EPS was below last year’s level, which may have tempered enthusiasm and limited the stock’s upside reaction. Article Title

SEI Investments Stock Down 2.0%

Shares of SEI Investments stock opened at $96.73 on Friday. The stock’s 50-day moving average is $91.54 and its 200 day moving average is $86.04. SEI Investments Company has a one year low of $75.08 and a one year high of $102.29. The firm has a market cap of $11.63 billion, a price-to-earnings ratio of 17.06 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. SEI Investments had a return on equity of 29.42% and a net margin of 28.85%.The business had revenue of $641.62 million during the quarter, compared to the consensus estimate of $636.35 million. During the same period in the previous year, the company posted $1.78 earnings per share. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Equities research analysts anticipate that SEI Investments Company will post 5.98 EPS for the current year.

SEI Investments Announces Dividend

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

Insiders Place Their Bets

In other news, Director Kathryn Mccarthy sold 10,000 shares of the firm’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 in the company, valued at $7,092,804.81. This trade represents a 11.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Mark Andrew Warner sold 4,000 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the sale, the insider directly owned 921 shares of the company’s stock, valued at approximately $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 71,332 shares of company stock worth $6,278,583. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SEIC has been the subject of a number of research analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Morgan Stanley raised their price objective on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James Financial lifted their target price on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, UBS Group reiterated a “buy” rating and set a $125.00 price target on shares of SEI Investments in a report on Thursday. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $122.60.

About SEI Investments

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.