Deutsche Bank AG Increases Position in SEI Investments Company (NASDAQ:SEIC)

Key Points

• Deutsche Bank AG increased its stake in SEI Investments Company by 41.9% during the first quarter, owning approximately $16.8 million worth of shares.
• SEI Investments reported $1.78 EPS for the last quarter, significantly beating estimates, and noted a 7.8% increase in revenue year-over-year.
• The company recently raised its quarterly dividend to $0.49 per share, representing a 2.2% dividend yield with a payout ratio of 18.39%.

Deutsche Bank AG grew its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 41.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 216,212 shares of the asset manager's stock after purchasing an additional 63,810 shares during the quarter. Deutsche Bank AG owned about 0.17% of SEI Investments worth $16,785,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc lifted its stake in SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in SEI Investments by 38.9% in the 1st 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 stake in 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 purchasing an additional 681 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in SEI Investments by 1,563.4% in the 1st 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 position in SEI Investments in the 1st quarter worth approximately $132,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Down 0.7%

NASDAQ SEIC traded down $0.62 on Friday, reaching $88.19. The stock had a trading volume of 750,963 shares, compared to its average volume of 878,062. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.37 and a beta of 0.95. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The stock has a fifty day moving average price of $88.60 and a two-hundred day moving average price of $82.39.

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

SEI Investments Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Raymond James Financial lifted their price target on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Finally, Oppenheimer lifted their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, SEI Investments has an average rating of "Moderate Buy" and an average price target of $102.00.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business'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 completion of the transaction, the insider owned 1,300 shares in the company, valued at $115,375. The trade was a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the business'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 transaction, the chairman owned 7,003,708 shares of the company's stock, valued at approximately $600,778,072.24. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 146,126 shares of company stock valued at $12,450,349. Insiders own 14.60% of the company's stock.

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.