26,900 Shares in SEI Investments Company $SEIC Bought by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System bought a new position in SEI Investments Company (NASDAQ:SEIC) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 26,900 shares of the asset manager’s stock, valued at approximately $2,111,000.

Several other large investors have also recently bought and sold shares of SEIC. Allworth Financial LP boosted its stake in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 132 shares in the last quarter. Commerce Bank grew its holdings in SEI Investments by 1.3% during the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock worth $825,000 after acquiring an additional 133 shares during the last quarter. Focus Partners Advisor Solutions LLC increased its position in SEI Investments by 1.2% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock valued at $981,000 after acquiring an additional 141 shares during the period. Farther Finance Advisors LLC raised its stake in shares of SEI Investments by 10.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,704 shares of the asset manager’s stock valued at $140,000 after acquiring an additional 161 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of SEI Investments by 2.3% during the fourth quarter. GAMMA Investing LLC now owns 7,260 shares of the asset manager’s stock valued at $595,000 after acquiring an additional 164 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SEIC shares. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley cut their target price on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Piper Sandler reissued an “overweight” rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Raymond James Financial restated an “outperform” rating and set a $82.00 price objective on shares of SEI Investments in a research report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

SEI Investments Trading Up 1.4%

SEIC opened at $87.71 on Wednesday. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $93.96. The company has a fifty day moving average of $89.43 and a 200-day moving average of $84.60. The stock has a market cap of $10.55 billion, a PE ratio of 14.97 and a beta of 0.97. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. The business had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. SEI Investments’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.17 earnings per share. On average, sell-side analysts predict that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were given a $0.52 dividend. 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%.

Insider Buying and Selling

In related news, insider Philip Mccabe sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the completion of the sale, the insider owned 54,884 shares of the company’s stock, valued at $5,039,448.88. This trade represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Sanjay Sharma sold 25,000 shares of SEI Investments stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the sale, the insider owned 39,829 shares of the company’s stock, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 111,332 shares of company stock worth $9,908,883 over the last three months. Insiders own 4.80% of the company’s stock.

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.