LPL Financial LLC Grows Stock Holdings in SEI Investments Company (NASDAQ:SEIC)

LPL Financial LLC grew its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,455 shares of the asset manager’s stock after buying an additional 5,291 shares during the period. LPL Financial LLC owned 0.08% of SEI Investments worth $7,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its holdings in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager’s stock valued at $42,000 after acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. grew its stake in SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 225 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager’s stock worth $103,000 after buying an additional 681 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager’s stock worth $106,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of SEI Investments in the 1st quarter valued at about $132,000. 70.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the transaction, the insider directly owned 1,300 shares of the company’s stock, valued at approximately $115,375. The trade was a 79.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ryan Hicke sold 21,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $14,276,233.60. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,126 shares of company stock valued at $20,082,409. 14.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SEIC shares. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Raymond James Financial boosted their target price on SEI Investments from $115.00 to $118.00 and gave the stock an “outperform” rating in a report on Thursday, July 24th. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Tuesday, May 20th. Morgan Stanley restated an “overweight” rating and issued a $100.00 price objective (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Finally, Piper Sandler dropped their target price on SEI Investments from $96.00 to $93.00 and set a “neutral” rating for the company in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

SEI Investments Price Performance

SEIC stock opened at $87.50 on Monday. The company’s 50 day simple moving average is $88.29 and its 200-day simple moving average is $82.23. The firm has a market capitalization of $10.82 billion, a PE ratio of 16.42, a P/E/G ratio of 1.39 and a beta of 0.95. SEI Investments Company has a 12 month low of $64.19 and a 12 month high of $93.96.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The company had revenue of $559.60 million during the quarter, compared to analysts’ expectations of $550.72 million. During the same quarter in the previous year, the business earned $1.05 EPS. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were given a $0.49 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from SEI Investments’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. SEI Investments’s dividend payout ratio (DPR) is currently 18.39%.

SEI Investments Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.