Quadrant Capital Group LLC grew its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 104.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 843 shares of the asset manager’s stock after purchasing an additional 431 shares during the quarter. Quadrant Capital Group LLC’s holdings in SEI Investments were worth $51,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Hazlett Burt & Watson Inc. acquired a new stake in shares of SEI Investments in the 1st quarter valued at $36,000. Artemis Wealth Advisors LLC acquired a new stake in SEI Investments during the 1st quarter worth $40,000. UMB Bank N A MO acquired a new stake in SEI Investments during the 4th quarter worth $52,000. Lazard Asset Management LLC raised its stake in SEI Investments by 114.4% during the 4th quarter. Lazard Asset Management LLC now owns 879 shares of the asset manager’s stock worth $53,000 after acquiring an additional 469 shares in the last quarter. Finally, Covestor Ltd acquired a new stake in SEI Investments during the 4th quarter worth $60,000. 70.44% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on SEIC shares. Piper Sandler cut their price target on shares of SEI Investments to $61.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 27th. The Goldman Sachs Group cut their price target on shares of SEI Investments to $58.00 in a research note on Friday, July 22nd. William Blair reiterated a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. Keefe, Bruyette & Woods dropped their price objective on shares of SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. Finally, Morgan Stanley dropped their price objective on shares of SEI Investments from $55.00 to $52.00 and set an “underweight” rating on the stock in a research note on Thursday, July 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $60.50.
In related news, insider Dennis Mcgonigle sold 35,000 shares of the business’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.15, for a total transaction of $1,930,250.00. Following the sale, the insider now owns 576,663 shares of the company’s stock, valued at $31,802,964.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 25.40% of the company’s stock.
SEI Investments Stock Up 0.5 %
Shares of NASDAQ:SEIC opened at $55.89 on Tuesday. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 13.40, a PEG ratio of 1.24 and a beta of 0.99. The firm’s 50-day simple moving average is $54.60 and its 200-day simple moving average is $56.78. SEI Investments has a fifty-two week low of $51.07 and a fifty-two week high of $65.22.
SEI Investments (NASDAQ:SEIC – Get Rating) last issued its earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). The firm had revenue of $481.67 million during the quarter, compared to analysts’ expectations of $472.18 million. SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.93 EPS. On average, research analysts forecast that SEI Investments will post 3.73 EPS for the current year.
SEI Investments Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 22nd. Stockholders of record on Monday, June 13th were issued a $0.40 dividend. This is an increase from SEI Investments’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend was Friday, June 10th. This represents a $1.60 annualized dividend and a dividend yield of 2.86%. SEI Investments’s payout ratio is presently 19.18%.
SEI Investments announced that its board has approved a share repurchase program on Wednesday, June 1st that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.
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.
Receive News & Ratings for SEI Investments Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for SEI Investments and related companies with MarketBeat.com’s FREE daily email newsletter.