BlackRock Inc. Invests $870.75 Million in SEI Investments Company $SEIC

Key Points

• BlackRock acquired a new 9.93 million-share stake in SEI Investments worth approximately $870.75 million, giving it an 8.27% ownership position. Institutional investors collectively own 70.59% of the company.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and an average price target of $122.60. Morgan Stanley and UBS both set $125 targets.
• SEI Investments exceeded quarterly expectations, reporting $1.66 in earnings per share versus the $1.44 consensus and $641.62 million in revenue, up 14.7% year over year. However, insiders sold 142,332 shares worth about $13.75 million over the past 90 days.

BlackRock Inc. bought a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 9,927,545 shares of the asset manager's stock, valued at approximately $870,745,000. BlackRock Inc. owned about 8.27% of SEI Investments at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, July 25th. Morgan Stanley raised their price target on shares of SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. UBS Group restated a "buy" rating and set a $125.00 price objective on shares of SEI Investments in a report on Thursday, July 23rd. Raymond James Financial upped their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods lifted their target price on SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $122.60.

Insider Activity at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total value of $1,035,300.00. Following the sale, the director directly owned 77,883 shares in the company, valued at approximately $8,063,226.99. This represents a 11.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Carl Guarino sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $103.19, for a total value of $1,031,900.00. Following the completion of the transaction, the director directly owned 18,308 shares of the company's stock, valued at approximately $1,889,202.52. The trade was a 35.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 142,332 shares of company stock valued at $13,745,813. Corporate insiders own 4.80% of the company's stock.

SEI Investments Trading Up 1.8%

Shares of SEI Investments stock opened at $109.53 on Friday. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $109.75. The firm has a market capitalization of $13.15 billion, a PE ratio of 19.32 and a beta of 0.96. 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 company's fifty day moving average price is $97.99 and its two-hundred day moving average price is $88.77.

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

SEI Investments Announces Dividend

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

SEI Investments Company 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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