Geode Capital Management LLC Purchases 109,974 Shares of SEI Investments Company $SEIC

Geode Capital Management LLC grew its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 3.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,894,317 shares of the asset manager’s stock after buying an additional 109,974 shares during the quarter. Geode Capital Management LLC’s holdings in SEI Investments were worth $237,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Community Bank N.A. bought a new position in shares of SEI Investments during the third quarter valued at about $35,000. Allworth Financial LP grew its stake in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after buying an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after buying an additional 339 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after buying an additional 200 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in shares of SEI Investments during the third quarter valued at about $50,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Down 0.6%

NASDAQ SEIC opened at $87.77 on Wednesday. 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 stock has a market capitalization of $10.56 billion, a PE ratio of 14.98 and a beta of 0.97. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $93.96. The business’s 50-day moving average is $84.74 and its 200 day moving average is $83.37.

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

SEI Investments Announces Dividend

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

Insider Buying and Selling

In related news, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the sale, the director directly owned 77,883 shares of the company’s stock, valued at $7,092,804.81. This trade represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total value of $364,640.00. Following the completion of the sale, the insider directly owned 921 shares in the company, valued at $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 116,447 shares of company stock valued at $9,908,539 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods raised 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 reaffirmed an “outperform” rating and set a $82.00 price objective on shares of SEI Investments in a research note on Wednesday, April 29th. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Finally, UBS Group assumed coverage on SEI Investments in a research note on Wednesday, February 4th. They set a “buy” rating and a $115.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $103.00.

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.