AlphaQuest LLC Boosts Stock Position in SEI Investments Company $SEIC

Key Points

• AlphaQuest LLC increased its stake in SEI Investments by 93.5%, acquiring an additional 16,289 shares and bringing its total holdings to 33,719 shares valued at approximately $2.6 million.
• Insider trading reports indicated that SEI Investments' Chairman and CEO sold significant shares, with the Chairman selling 75,000 shares for over $6.4 million and the CEO selling 35,000 shares valued at around $3.1 million.
• After recent performance, analysts have variously rated SEI Investments, with a consensus rating of "Moderate Buy" and an average target price of $102.00.

AlphaQuest LLC raised its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 93.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,719 shares of the asset manager's stock after buying an additional 16,289 shares during the quarter. AlphaQuest LLC's holdings in SEI Investments were worth $2,618,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Allstate Corp grew its holdings in shares of SEI Investments by 578.6% during the 1st quarter. Allstate Corp now owns 17,739 shares of the asset manager's stock worth $1,377,000 after purchasing an additional 15,125 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of SEI Investments by 4.2% during the 1st quarter. 1832 Asset Management L.P. now owns 13,625 shares of the asset manager's stock worth $1,058,000 after purchasing an additional 553 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of SEI Investments by 4.7% during the 1st quarter. Ameriprise Financial Inc. now owns 498,088 shares of the asset manager's stock worth $38,666,000 after purchasing an additional 22,296 shares in the last quarter. Martingale Asset Management L P grew its holdings in shares of SEI Investments by 0.4% during the 1st quarter. Martingale Asset Management L P now owns 231,643 shares of the asset manager's stock worth $17,982,000 after purchasing an additional 972 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of SEI Investments by 238.3% during the 1st quarter. Candriam S.C.A. now owns 135,207 shares of the asset manager's stock worth $10,496,000 after purchasing an additional 95,245 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Stock Performance

SEI Investments stock traded up $0.70 during mid-day trading on Tuesday, reaching $90.33. The stock had a trading volume of 504,992 shares, compared to its average volume of 841,580. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The stock's 50-day simple moving average is $89.20 and its 200-day simple moving average is $82.48. The firm has a market capitalization of $11.17 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.05 earnings per share. On average, research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a dividend of $0.49 per share. 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 payout ratio is presently 18.39%.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the transaction, the chairman owned 7,003,708 shares of the company's stock, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,126 shares of company stock valued at $15,540,849 over the last 90 days. Insiders own 14.30% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SEIC. Oppenheimer increased their target price on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Raymond James Financial increased their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. 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. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $102.00.

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.