SEI Investments Company $SEIC Stake Increased by Fifth Third Bancorp

Fifth Third Bancorp lifted its holdings in SEI Investments Company (NASDAQ:SEIC) by 2,077.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,690 shares of the asset manager’s stock after buying an additional 25,464 shares during the period. Fifth Third Bancorp’s holdings in SEI Investments were worth $2,094,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Allworth Financial LP grew its stake in SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC boosted its holdings 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 worth $37,000 after purchasing an additional 339 shares during the period. Root Financial Partners LLC increased its stake in SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after buying an additional 141 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of SEI Investments by 60.2% during the 1st 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. Finally, Rothschild Investment LLC raised its holdings in shares of SEI Investments by 266.9% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock worth $46,000 after acquiring an additional 411 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 25,000 shares of SEI Investments stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the sale, the insider owned 39,829 shares in the company, valued at $3,589,389.48. The trade was a 38.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Philip Mccabe sold 15,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the completion of the sale, the insider directly owned 54,884 shares in the company, valued at approximately $5,039,448.88. The trade was a 21.46% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 111,332 shares of company stock worth $9,908,883. 4.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SEIC has been the subject of several recent research reports. Morgan Stanley boosted their price target on SEI Investments from $113.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Friday. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Piper Sandler upped their price objective on shares of SEI Investments from $105.00 to $114.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Raymond James Financial boosted their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $116.20.

SEI Investments Trading Down 1.7%

Shares of SEIC stock opened at $97.65 on Wednesday. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $100.79. The firm’s fifty day simple moving average is $91.31 and its 200 day simple moving average is $85.83. The firm has a market capitalization of $11.74 billion, a P/E ratio of 16.66 and a beta of 0.97. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data 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. 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 quarter in the previous year, the firm posted $1.17 EPS. The business’s revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts predict that SEI Investments Company will post 5.98 EPS for the current year.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were paid 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 payout ratio is currently 17.75%.

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.