Empirical Financial Services LLC d.b.a. Empirical Wealth Management Increases Stock Position in SEI Investments Company $SEIC

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 63.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,566 shares of the asset manager’s stock after acquiring an additional 6,442 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in SEI Investments were worth $1,300,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State of Michigan Retirement System lifted its holdings in shares of SEI Investments by 1.8% in the 1st quarter. State of Michigan Retirement System now owns 22,388 shares of the asset manager’s stock worth $1,757,000 after acquiring an additional 400 shares during the last quarter. Principal Financial Group Inc. increased its holdings in SEI Investments by 3.7% in the 1st quarter. Principal Financial Group Inc. now owns 207,688 shares of the asset manager’s stock valued at $16,297,000 after purchasing an additional 7,326 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in SEI Investments in the first quarter valued at approximately $317,000. Arbejdsmarkedets Tillaegspension raised its position in SEI Investments by 13.4% in the first quarter. Arbejdsmarkedets Tillaegspension now owns 323,418 shares of the asset manager’s stock valued at $25,379,000 after purchasing an additional 38,242 shares during the period. Finally, Diversify Wealth Management LLC acquired a new position in SEI Investments during the first quarter worth $1,063,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods raised their price target on SEI Investments from $107.00 to $113.00 and gave the stock an “outperform” rating in a research report on Friday, July 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Raymond James Financial raised their price target on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Piper Sandler boosted their price target on shares of SEI Investments from $105.00 to $114.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Morgan Stanley upped their price objective on SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday, July 9th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $116.20.

SEI Investments Stock Performance

Shares of SEIC opened at $98.17 on Thursday. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $98.58. The stock has a market capitalization of $11.81 billion, a PE ratio of 16.75 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The stock has a 50-day simple moving average of $90.68 and a 200-day simple moving average of $85.39.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The company’s revenue was up 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.17 earnings per share. On average, analysts predict that SEI Investments Company will post 5.98 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were given a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio is currently 17.75%.

Insider Buying and Selling at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the 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 transaction, the director owned 77,883 shares in the company, valued at approximately $7,092,804.81. This represents a 11.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Philip Mccabe sold 15,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 21.46% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 111,332 shares of company stock worth $9,908,883. Corporate insiders own 4.80% of the company’s stock.

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.