Connor Clark & Lunn Investment Management Ltd. Makes New $36.93 Million Investment in SEI Investments Company $SEIC

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 421,046 shares of the asset manager’s stock, valued at approximately $36,930,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Elevation Wealth Partners LLC raised its position in shares of SEI Investments by 96.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after buying an additional 152 shares during the period. CIBC Private Wealth Group LLC increased its stake in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after acquiring an additional 339 shares during the last quarter. Root Financial Partners LLC raised its position in SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares during the period. CX Institutional raised its position in SEI Investments by 44.6% in the second quarter. CX Institutional now owns 532 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 164 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Performance

NASDAQ SEIC opened at $110.75 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The company has a market cap of $13.29 billion, a P/E ratio of 19.53 and a beta of 0.96. The stock has a 50-day moving average of $98.41 and a two-hundred day moving average of $88.96. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $111.90.

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

SEI Investments Announces Dividend

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

Insiders Place Their Bets

In related news, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the transaction, the insider directly owned 39,829 shares of the company’s stock, valued at $3,956,214.57. The trade was a 33.43% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the sale, the director owned 77,883 shares in the company, valued at approximately $8,063,226.99. This trade represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 142,332 shares of company stock valued at $13,745,813. Corporate insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SEIC. Raymond James Financial increased their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Morgan Stanley upped their target price on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research note on Thursday, July 23rd. Finally, Zacks Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $122.60.

SEI Investments 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.