Arrowstreet Capital Limited Partnership Increases Holdings in SEI Investments Company $SEIC

Key Points

• Arrowstreet Capital increased its SEI Investments stake by 22.5% in the first quarter, bringing its holdings to 567,967 shares valued at approximately $44.6 million. Institutional investors collectively own 70.59% of the company.
• SEI Investments reported quarterly earnings of $1.66 per share, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million.
• Insiders sold 67,332 shares worth roughly $5.9 million over the past quarter. Analysts remain bullish, with the stock carrying a consensus “Buy” rating and an average price target of $122.60 versus a recent price of $101.52.

Arrowstreet Capital Limited Partnership raised its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 22.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 567,967 shares of the asset manager's stock after purchasing an additional 104,321 shares during the period. Arrowstreet Capital Limited Partnership owned 0.47% of SEI Investments worth $44,568,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE raised its holdings in shares of SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager's stock valued at $284,015,000 after acquiring an additional 133,057 shares in the last quarter. Geode Capital Management LLC increased its position in SEI Investments by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager's stock valued at $237,421,000 after purchasing an additional 109,974 shares during the period. Lord Abbett & CO. LLC increased its position in SEI Investments by 19.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock valued at $157,263,000 after purchasing an additional 308,988 shares during the period. Dimensional Fund Advisors LP raised its holdings in SEI Investments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager's stock worth $146,984,000 after purchasing an additional 20,054 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in SEI Investments by 1.2% in the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager's stock worth $143,025,000 after purchasing an additional 21,731 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 50,000 shares of the business's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $87.25, for a total value of $4,362,500.00. Following the sale, the chairman directly owned 6,825,783 shares of the company's stock, valued at $595,549,566.75. The trade was a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the sale, the director owned 77,883 shares in the company, valued at $7,092,804.81. The trade was a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 67,332 shares of company stock valued at $5,913,943 over the last quarter. Company insiders own 4.80% of the company's stock.

SEI Investments Stock Up 2.3%

NASDAQ:SEIC opened at $101.52 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The firm's 50-day moving average price is $91.90 and its 200-day moving average price is $86.23. The company has a market capitalization of $12.21 billion, a PE ratio of 17.90 and a beta of 0.97. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $102.29.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. SEI Investments's quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.78 earnings per share. On average, equities analysts predict that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were issued a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments's dividend payout ratio (DPR) is presently 18.34%.

Wall Street Analyst Weigh In

SEIC has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. Raymond James Financial increased their price target on shares of SEI Investments from $122.00 to $124.00 and gave the stock an "outperform" rating in a research note on Monday, July 6th. Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a report on Friday, July 17th. UBS Group reaffirmed a "buy" rating and set a $125.00 price objective on shares of SEI Investments in a research report on Thursday. Finally, Piper Sandler upped their target price on SEI Investments from $114.00 to $120.00 and gave the stock an "overweight" rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $122.60.

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.

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