Louisiana State Employees Retirement System acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC – Free Report) during the 1st quarter, Holdings Channel reports. The firm acquired 26,900 shares of the asset manager’s stock, valued at approximately $2,111,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. RFG Advisory LLC bought a new stake in SEI Investments in the 1st quarter valued at about $211,000. OP Asset Management Ltd bought a new position in SEI Investments in the first quarter worth approximately $513,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in SEI Investments in the first quarter worth approximately $5,528,000. Diversified Trust Co grew its stake in SEI Investments by 5.3% in the first quarter. Diversified Trust Co now owns 35,492 shares of the asset manager’s stock valued at $2,785,000 after acquiring an additional 1,783 shares during the period. Finally, Hsbc Holdings PLC increased its holdings in shares of SEI Investments by 185.4% during the fourth quarter. Hsbc Holdings PLC now owns 180,716 shares of the asset manager’s stock valued at $14,895,000 after acquiring an additional 117,400 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on SEIC shares. Keefe, Bruyette & Woods upped their target price on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research report on Thursday, April 23rd. 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 report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Raymond James Financial restated an “outperform” rating and set a $82.00 price objective on shares of SEI Investments in a report on Wednesday, April 29th. Finally, Morgan Stanley dropped their price objective on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $103.00.
SEI Investments Price Performance
SEI Investments stock opened at $87.71 on Wednesday. The stock has a market cap of $10.55 billion, a price-to-earnings 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. The business has a 50-day simple moving average of $89.43 and a 200 day simple moving average of $84.60. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $93.96.
SEI Investments (NASDAQ:SEIC – Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same quarter last year, the firm posted $1.17 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.
SEI Investments Announces Dividend
The business also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were given a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s payout ratio is presently 17.75%.
Insiders Place Their Bets
In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the completion of the transaction, the chairman directly owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the sale, the insider owned 39,829 shares in the company, valued at $3,589,389.48. The trade was a 38.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 111,332 shares of company stock worth $9,908,883. 4.80% of the stock is owned by corporate insiders.
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.
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