SEI Investments Company $SEIC Shares Acquired by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 349.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,902 shares of the asset manager’s stock after purchasing an additional 49,676 shares during the quarter. Ashton Thomas Private Wealth LLC owned approximately 0.05% of SEI Investments worth $5,422,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Arizona State Retirement System lifted its position in shares of SEI Investments by 0.4% during the 3rd quarter. Arizona State Retirement System now owns 31,307 shares of the asset manager’s stock worth $2,656,000 after buying an additional 129 shares during the last quarter. Ethic Inc. raised its stake in SEI Investments by 3.0% during the 2nd quarter. Ethic Inc. now owns 4,503 shares of the asset manager’s stock worth $403,000 after acquiring an additional 133 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in SEI Investments by 3.2% in the second quarter. Concurrent Investment Advisors LLC now owns 5,779 shares of the asset manager’s stock valued at $519,000 after acquiring an additional 179 shares during the last quarter. WealthCollab LLC boosted its stake in SEI Investments by 33.7% in the second quarter. WealthCollab LLC now owns 766 shares of the asset manager’s stock valued at $69,000 after acquiring an additional 193 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $85.94 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.29 and a quick ratio of 3.20. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 15.26 and a beta of 0.95. The firm’s fifty day moving average price is $84.35 and its 200 day moving average price is $84.95. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.04. The company had revenue of $607.93 million during the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. SEI Investments’s quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.19 EPS. On average, sell-side analysts expect that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, December 29th were issued a $0.52 dividend. This represents a yield of 124.0%. The ex-dividend date of this dividend was Monday, December 29th. SEI Investments’s payout ratio is currently 18.47%.

SEI Investments declared that its Board of Directors has initiated a share buyback plan on Friday, October 24th that authorizes the company to repurchase $650.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

SEIC has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research report on Thursday, January 22nd. Morgan Stanley boosted their price objective on SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. UBS Group began coverage on shares of SEI Investments in a research report on Wednesday. They set a “buy” rating and a $115.00 target price on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $117.00 target price on shares of SEI Investments in a report on Monday, January 5th. Finally, Keefe, Bruyette & Woods increased their price target on shares of SEI Investments from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $110.17.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total transaction of $2,003,149.90. Following the completion of the transaction, the chairman directly owned 6,942,812 shares of the company’s stock, valued at approximately $561,465,206.44. This represents a 0.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ryan Hicke sold 80,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the sale, the chief executive officer directly owned 197,164 shares of the company’s stock, valued at $17,224,247.04. This represents a 28.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 14.60% of the company’s stock.

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.