Intech Investment Management LLC Increases Holdings in SEI Investments Company $SEIC

Intech Investment Management LLC increased its position in shares of SEI Investments Company (NASDAQ:SEIC) by 62.7% in the fourth quarter, HoldingsChannel reports. The firm owned 48,699 shares of the asset manager’s stock after acquiring an additional 18,772 shares during the quarter. Intech Investment Management LLC’s holdings in SEI Investments were worth $3,994,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. PFA Pension Forsikringsaktieselskab acquired a new position in SEI Investments in the 4th quarter worth approximately $43,186,000. Qube Research & Technologies Ltd boosted its holdings in shares of SEI Investments by 82.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after acquiring an additional 346,696 shares during the last quarter. Caisse de depot et placement du Quebec increased its stake in shares of SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock worth $114,018,000 after acquiring an additional 317,703 shares during the period. Arbejdsmarkedets Tillaegspension purchased a new position in shares of SEI Investments during the fourth quarter worth $23,390,000. Finally, Prana Capital Management LP raised its holdings in shares of SEI Investments by 60.8% during the third quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock worth $60,355,000 after purchasing an additional 269,023 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Up 0.5%

Shares of SEIC stock opened at $88.32 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The company has a market cap of $10.62 billion, a price-to-earnings ratio of 15.07 and a beta of 0.97. The stock has a 50 day simple moving average of $84.74 and a 200-day simple moving average of $83.37. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. On average, equities research analysts expect that SEI Investments Company will post 5.89 EPS for the current fiscal year.

SEI Investments Announces Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be issued a dividend of $0.52 per share. This represents a yield of 116.0%. The ex-dividend date of this dividend is Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is presently 17.75%.

Analyst Ratings Changes

SEIC has been the topic of several recent research reports. UBS Group began coverage on shares of SEI Investments in a report on Wednesday, February 4th. They issued a “buy” rating and a $115.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective on shares of SEI Investments in a report on Wednesday, April 29th. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Finally, Morgan Stanley reduced their price target on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $103.00.

Insiders Place Their Bets

In related news, 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 transaction, the insider directly owned 39,829 shares of the company’s stock, valued at approximately $3,589,389.48. This trade represents a 38.56% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Philip Mccabe sold 15,000 shares of SEI Investments stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total value of $1,377,300.00. Following the completion of the sale, the insider owned 54,884 shares in the company, valued at approximately $5,039,448.88. The trade was a 21.46% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 116,447 shares of company stock valued at $9,908,539. 4.80% of the stock is owned by company insiders.

About SEI Investments

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.