Legal & General Group Plc Has $15.60 Million Holdings in SEI Investments Company $SEIC

Legal & General Group Plc lessened its position in SEI Investments Company (NASDAQ:SEIC) by 17.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 190,243 shares of the asset manager’s stock after selling 39,742 shares during the period. Legal & General Group Plc’s holdings in SEI Investments were worth $15,604,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in SEI Investments by 0.3% in the third quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock valued at $955,461,000 after acquiring an additional 30,970 shares during the period. Bank of America Corp DE grew its stake in SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after acquiring an additional 133,057 shares during the period. Dimensional Fund Advisors LP grew its stake in SEI Investments by 1.7% in the third quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock valued at $158,084,000 after acquiring an additional 31,953 shares during the period. Invesco Ltd. grew its stake in SEI Investments by 4.1% in the third quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager’s stock valued at $146,920,000 after acquiring an additional 68,873 shares during the period. Finally, Caisse de depot et placement du Quebec grew its stake in 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 valued at $114,018,000 after acquiring an additional 317,703 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SEIC shares. Raymond James Financial reissued an “outperform” rating and issued a $82.00 price objective on shares of SEI Investments in a research note on Wednesday, April 29th. Morgan Stanley cut their target price on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research report on Thursday, April 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

SEI Investments Stock Up 0.5%

SEIC stock opened at $88.32 on Tuesday. The stock’s fifty day simple moving average is $84.74 and its two-hundred day simple moving average is $83.37. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The stock has a market cap of $10.62 billion, a P/E ratio of 15.07 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. The firm had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business’s revenue was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. Analysts expect that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Dividend Announcement

The company also recently announced a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be paid a $0.52 dividend. The ex-dividend date is Monday, June 8th. This represents a dividend yield of 116.0%. SEI Investments’s payout ratio is presently 17.75%.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Philip Mccabe sold 15,000 shares of the business’s stock in a transaction on 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 sale, the insider directly owned 54,884 shares in the company, valued at $5,039,448.88. The trade was a 21.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 7,447 shares of the business’s stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total value of $590,249.22. Following the completion of the sale, the chairman owned 6,875,783 shares in the company, valued at approximately $544,974,560.58. The trade was a 0.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 116,447 shares of company stock valued at $9,908,539. 4.80% of the stock is currently owned by insiders.

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.