Charles Schwab Investment Management Inc. Purchases 3,339 Shares of SEI Investments Company $SEIC

Key Points

• Charles Schwab Investment Management Inc. increased its stake in SEI Investments Company by 0.5%, owning approximately 671,672 shares valued at $52.14 million as of the latest quarter.
• SEI Investments recently reported $1.78 earnings per share for the last quarter, surpassing analysts' expectations of $1.18, with net revenue rising to $559.60 million.
• The company declared an increased quarterly dividend of $0.49 per share, up from the previous dividend of $0.46, indicating a positive growth trajectory for its investors.

Charles Schwab Investment Management Inc. raised its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 671,672 shares of the asset manager's stock after buying an additional 3,339 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.54% of SEI Investments worth $52,142,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after buying an additional 331 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after purchasing an additional 225 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after purchasing an additional 681 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after purchasing an additional 1,282 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of SEI Investments in the first quarter worth approximately $132,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Piper Sandler reduced their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 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. William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Raymond James Financial increased their price target on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, SEI Investments has a consensus rating of "Moderate Buy" and an average target price of $102.00.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider owned 1,300 shares in the company, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the completion of the sale, the chairman owned 7,003,708 shares in the company, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 146,126 shares of company stock worth $12,450,349. Corporate insiders own 14.30% of the company's stock.

SEI Investments Stock Down 0.5%

SEIC stock traded down $0.41 during midday trading on Tuesday, hitting $88.21. 552,076 shares of the company traded hands, compared to its average volume of 851,670. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The business has a 50 day simple moving average of $88.68 and a 200-day simple moving average of $82.38. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95.

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

SEI Investments Increases Dividend

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

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.