SEI Investments Company $SEIC Shares Sold by Royal Bank of Canada

Royal Bank of Canada reduced its position in shares of SEI Investments Company (NASDAQ:SEIC) by 31.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 416,650 shares of the asset manager’s stock after selling 194,524 shares during the quarter. Royal Bank of Canada owned about 0.35% of SEI Investments worth $32,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Bank of America Corp DE grew its holdings in SEI Investments by 4.4% during the second 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 during the period. Geode Capital Management LLC boosted its position in shares of SEI Investments by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock valued at $237,421,000 after purchasing an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of SEI Investments by 19.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock valued at $157,263,000 after purchasing an additional 308,988 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SEI Investments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after purchasing an additional 20,054 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of SEI Investments by 1.2% in the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock worth $143,025,000 after purchasing an additional 21,731 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $99.33, for a total value of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company’s stock, valued at $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the sale, the chairman owned 6,825,783 shares of the company’s stock, valued at approximately $595,549,566.75. This represents a 0.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 102,332 shares of company stock worth $9,556,993. Insiders own 4.80% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $104.19 on Tuesday. The company’s fifty day moving average is $93.18 and its two-hundred day moving average is $86.82. The company has a market cap of $12.50 billion, a P/E ratio of 18.38 and a beta of 0.96. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $104.47. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The business had revenue of $641.62 million during the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.78 earnings per share. Equities analysts expect that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a dividend of $0.52 per share. This represents a yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s payout ratio is 18.34%.

Analysts Set New Price Targets

SEIC has been the topic of several recent research reports. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Piper Sandler lifted their target price on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Morgan Stanley upped their target price on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $122.60.

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.