SEI Investments Company $SEIC Stake Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB lifted its holdings in SEI Investments Company (NASDAQ:SEIC) by 32.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,500 shares of the asset manager’s stock after buying an additional 8,300 shares during the period. Handelsbanken Fonder AB’s holdings in SEI Investments were worth $2,842,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank purchased a new stake in SEI Investments in the 2nd quarter worth about $55,685,000. Jupiter Asset Management Ltd. acquired a new position in shares of SEI Investments in the 2nd quarter valued at about $37,490,000. Azora Capital LP lifted its position in shares of SEI Investments by 109.3% in the second quarter. Azora Capital LP now owns 777,952 shares of the asset manager’s stock worth $69,907,000 after purchasing an additional 406,287 shares in the last quarter. Swiss National Bank acquired a new stake in shares of SEI Investments during the second quarter worth approximately $18,340,000. Finally, Qube Research & Technologies Ltd grew its position in SEI Investments by 76.1% during the second quarter. Qube Research & Technologies Ltd now owns 420,079 shares of the asset manager’s stock valued at $37,748,000 after purchasing an additional 181,586 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of research analyst reports. Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Morgan Stanley increased their price objective on SEI Investments from $115.00 to $117.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Raymond James Financial restated an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a research note on Monday, January 5th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $106.00 price target on shares of SEI Investments in a research note on Friday, February 20th. Seven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $109.67.

SEI Investments Trading Up 0.4%

SEI Investments stock opened at $82.67 on Wednesday. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The company’s fifty day moving average price is $83.99 and its two-hundred day moving average price is $83.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. The company has a market capitalization of $10.11 billion, a price-to-earnings ratio of 14.68 and a beta of 0.96.

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

SEI Investments Dividend Announcement

The company also recently declared a dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is currently 18.47%.

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $81.74, for a total value of $326,960.00. Following the transaction, the insider owned 921 shares in the company, valued at $75,282.54. This trade represents a 81.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 80,000 shares of the company’s stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $87.36, for a total transaction of $6,988,800.00. Following the sale, the chief executive officer owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This trade represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 14.30% 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.