Clark Capital Management Group Inc. Buys 619,315 Shares of SEI Investments Company $SEIC

Key Points

• Clark Capital Management Group dramatically increased its SEI Investments stake by 2,333.2% in the fourth quarter, buying 619,315 additional shares and bringing its total holdings to 645,859 shares worth about $52.97 million.
• SEI Investments reported better-than-expected quarterly earnings of $1.44 per share, topping estimates by $0.15, while revenue rose 12.9% year over year to $622.18 million.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $103.00, even as some insiders recently sold shares.

Clark Capital Management Group Inc. grew its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 2,333.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 645,859 shares of the asset manager's stock after purchasing an additional 619,315 shares during the period. Clark Capital Management Group Inc. owned about 0.53% of SEI Investments worth $52,973,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in SEI Investments by 0.3% during the third quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager's stock valued at $955,461,000 after purchasing an additional 30,970 shares during the period. M&G PLC bought a new position in SEI Investments during the third quarter valued at $10,413,000. Prana Capital Management LP grew its holdings in SEI Investments by 60.8% during the third quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager's stock valued at $60,355,000 after purchasing an additional 269,023 shares during the period. Mill Creek Capital Advisors LLC bought a new position in SEI Investments during the third quarter valued at $4,240,000. Finally, Polar Asset Management Partners Inc. grew its holdings in SEI Investments by 312.1% during the third quarter. Polar Asset Management Partners Inc. now owns 49,043 shares of the asset manager's stock valued at $4,161,000 after purchasing an additional 37,143 shares during the period. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Up 1.3%

SEIC opened at $90.73 on Wednesday. The stock has a market cap of $10.91 billion, a PE ratio of 15.48 and a beta of 0.97. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $93.96. The business's fifty day simple moving average is $87.26 and its 200 day simple moving average is $84.04.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business had revenue of $622.18 million for the quarter, compared to analysts' expectations of $641.82 million. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The firm's revenue was up 12.9% on a year-over-year basis. As a group, research analysts expect that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments's dividend payout ratio (DPR) is presently 17.75%.

Analysts Set New Price Targets

SEIC has been the topic of several recent research reports. Raymond James Financial restated an "outperform" rating and set a $82.00 target price on shares of SEI Investments in a research report on Wednesday, April 29th. Morgan Stanley dropped their target price on SEI Investments from $119.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. Keefe, Bruyette & Woods increased their target price on SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Piper Sandler restated an "overweight" rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments has an average rating of "Moderate Buy" and a consensus target price of $103.00.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 4,000 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total value of $364,640.00. Following the sale, the insider directly owned 921 shares of the company's stock, valued at $83,958.36. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm's stock in a transaction dated 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 directly owned 77,883 shares in the company, valued at $7,092,804.81. The trade was a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 54,000 shares of company stock valued at $4,905,640 over the last three months. Company insiders own 4.80% of the company's stock.

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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