Atria Wealth Solutions Inc. Makes New Investment in SEI Investments Company $SEIC

Key Points

• Atria Wealth Solutions Inc. has made a new investment of approximately $287,000 in SEI Investments Company, acquiring 3,697 shares in the first quarter.
• SEI reported a record earnings per share of $1.78 for the last quarter, beating consensus estimates significantly and demonstrating a 7.8% increase in quarterly revenue year-over-year.
• The company recently announced a quarterly dividend of $0.49 per share, reflecting an increase from the previous dividend and a yield of 2.2%.

Atria Wealth Solutions Inc. acquired a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,697 shares of the asset manager's stock, valued at approximately $287,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SEIC. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in SEI Investments by 59.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock worth $974,000 after purchasing an additional 4,701 shares during the period. Janney Montgomery Scott LLC bought a new position in shares of SEI Investments in the first quarter worth about $206,000. LPL Financial LLC increased its stake in shares of SEI Investments by 6.0% in the first quarter. LPL Financial LLC now owns 93,455 shares of the asset manager's stock worth $7,255,000 after purchasing an additional 5,291 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in SEI Investments by 41.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager's stock valued at $1,654,000 after acquiring an additional 6,261 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its stake in shares of SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Trading Down 0.3%

NASDAQ:SEIC traded down $0.3090 during mid-day trading on Tuesday, hitting $88.3110. The stock had a trading volume of 242,443 shares, compared to its average volume of 849,591. The stock has a 50-day simple moving average of $88.68 and a two-hundred day simple moving average of $82.38. The company has a market capitalization of $10.92 billion, a PE ratio of 16.57, a PEG ratio of 1.37 and a beta of 0.95. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96.

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

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Monday, June 9th. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 18.39%.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the transaction, the chairman owned 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the sale, the insider owned 1,300 shares of the company's stock, valued at $115,375. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,126 shares of company stock worth $12,450,349 over the last 90 days. Insiders own 14.30% of the company's stock.

Analyst Upgrades and Downgrades

SEIC has been the subject of several analyst reports. Raymond James Financial raised their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley restated an "overweight" rating and set a $100.00 price objective (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Finally, Oppenheimer boosted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.00.

About SEI Investments

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.