Y Intercept Hong Kong Ltd Purchases Shares of 46,201 SEI Investments Company $SEIC

Y Intercept Hong Kong Ltd acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 46,201 shares of the asset manager’s stock, valued at approximately $3,625,000.

A number of other institutional investors and hedge funds have also modified their holdings of SEIC. Community Bank N.A. bought a new stake in SEI Investments in the 3rd quarter valued at $35,000. Allworth Financial LP increased its stake in SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 132 shares during the period. CIBC Private Wealth Group LLC raised its position in SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC lifted its stake in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SEIC. Raymond James Financial upped their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday. Piper Sandler restated an “overweight” rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Morgan Stanley dropped their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, SEI Investments currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

SEI Investments Trading Up 0.8%

SEI Investments stock traded up $0.74 during mid-day trading on Tuesday, hitting $95.73. The stock had a trading volume of 191,240 shares, compared to its average volume of 797,829. The stock has a market capitalization of $11.51 billion, a PE ratio of 16.35 and a beta of 0.97. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $96.02. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The stock has a 50-day simple moving average of $89.98 and a two-hundred day simple moving average of $84.85.

SEI Investments (NASDAQ:SEIC) last released its 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. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The company had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. During the same period in the prior year, the company posted $1.17 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The business 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. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is 17.75%.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the chairman directly owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. This trade represents a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the transaction, the director directly owned 77,883 shares of the company’s stock, valued at $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 111,332 shares of company stock valued at $9,908,883. 4.80% of the stock is owned by corporate insiders.

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.