Mill Creek Capital Advisors LLC Takes Position in SEI Investments Company $SEIC

Mill Creek Capital Advisors LLC purchased a new position in SEI Investments Company (NASDAQ:SEIC) during the third quarter, Holdings Channel reports. The firm purchased 49,971 shares of the asset manager’s stock, valued at approximately $4,240,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in SEI Investments by 0.3% during the third quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after buying an additional 30,970 shares in the last quarter. Loomis Sayles & Co. L P lifted its holdings in shares of SEI Investments by 1.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager’s stock worth $794,475,000 after acquiring an additional 121,198 shares during the period. Bank of America Corp DE boosted its position in shares of SEI Investments by 4.4% during the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after acquiring an additional 133,057 shares in the last quarter. First Trust Advisors LP increased its stake in SEI Investments by 9.1% in the second quarter. First Trust Advisors LP now owns 1,727,334 shares of the asset manager’s stock valued at $155,218,000 after acquiring an additional 144,789 shares during the last quarter. Finally, Azora Capital LP raised its position in SEI Investments by 109.3% during the second quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock valued at $69,907,000 after purchasing an additional 406,287 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. UBS Group initiated coverage on SEI Investments in a report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 target price on the stock. Keefe, Bruyette & Woods raised their price objective on SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Zacks Research cut SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Raymond James Financial reissued an “outperform” rating and set a $117.00 target price on shares of SEI Investments in a research note on Monday, January 5th. Finally, Morgan Stanley raised their price target on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Seven equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has an average rating of “Moderate Buy” and a consensus target price of $109.67.

Insider Buying and Selling at SEI Investments

In related news, CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the completion of the transaction, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This trade represents a 28.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 24,770 shares of SEI Investments stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the transaction, the chairman directly owned 6,942,812 shares in the company, valued at $561,465,206.44. The trade was a 0.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 108,770 shares of company stock worth $9,318,910. 14.60% of the stock is currently owned by company insiders.

SEI Investments Price Performance

Shares of SEIC opened at $83.35 on Friday. The company has a quick ratio of 3.20, a current ratio of 3.29 and a debt-to-equity ratio of 0.04. The stock has a market cap of $10.19 billion, a PE ratio of 14.80 and a beta of 0.95. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The business has a 50-day simple moving average of $84.14 and a two-hundred day simple moving average of $84.14.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 28th. The asset manager reported $1.30 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.04). SEI Investments had a return on equity of 30.26% and a net margin of 31.14%.The firm had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. During the same quarter last year, the firm posted $1.19 earnings per share. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. Analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were issued a dividend of $0.52 per share. This represents a yield of 124.0%. The ex-dividend date of this dividend was Monday, December 29th. SEI Investments’s payout ratio is presently 18.47%.

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.