Bank of Nova Scotia acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 26,171 shares of the asset manager’s stock, valued at approximately $2,054,000.
Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP grew its position in shares of SEI Investments by 44.0% in the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after buying an additional 132 shares during the period. Commerce Bank lifted its position in SEI Investments by 1.3% during the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock valued at $825,000 after acquiring an additional 133 shares during the period. 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 valued at $38,000 after acquiring an additional 141 shares during the period. Focus Partners Advisor Solutions LLC boosted its stake in SEI Investments by 1.2% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock worth $981,000 after acquiring an additional 141 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in SEI Investments by 10.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,704 shares of the asset manager’s stock worth $140,000 after acquiring an additional 161 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.
Insider Activity at SEI Investments
In other SEI Investments 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 owned 77,883 shares in the company, valued at $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the firm’s stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at $3,956,214.57. This trade represents a 33.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 87,332 shares of company stock worth $7,900,543. Corporate insiders own 4.80% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Research Report on SEI Investments
SEI Investments Stock Down 0.3%
Shares of SEIC stock opened at $102.88 on Thursday. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $104.47. The stock has a market cap of $12.35 billion, a P/E ratio of 18.14 and a beta of 0.97. The company has a 50 day simple moving average of $92.38 and a two-hundred day simple moving average of $86.45.
SEI Investments (NASDAQ:SEIC – Get Free Report) last issued its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $636.35 million. During the same quarter last year, the company posted $1.78 EPS. The company’s revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that SEI Investments Company will post 6.2 earnings per share for the current year.
SEI Investments Dividend Announcement
The business also recently announced 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 of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is currently 18.34%.
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.
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