Diversify Wealth Management LLC Buys New Position in SEI Investments Company $SEIC

Key Points

• Diversify Wealth Management opened a new position in SEI Investments, buying 13,551 shares worth about $1.06 million in the first quarter.
• Wall Street sentiment remains positive: multiple firms raised price targets, and the stock now has a Moderate Buy consensus with an average target of $116.20.
• SEI Investments reported Q1 EPS of $1.44, topping estimates, while revenue rose 12.9% year over year; however, several insiders have recently sold shares.

Diversify Wealth Management LLC purchased a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,551 shares of the asset manager's stock, valued at approximately $1,063,000.

Several other large investors have also added to or reduced their stakes in the stock. Bank of America Corp DE raised its holdings in SEI Investments by 4.4% in the 2nd 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 in the last quarter. Geode Capital Management LLC boosted its stake in shares of SEI Investments by 3.9% during the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager's stock valued at $237,421,000 after purchasing an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of SEI Investments by 19.2% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager's stock valued at $157,263,000 after purchasing an additional 308,988 shares in the last quarter. First Trust Advisors LP increased its position in shares of SEI Investments by 4.4% during the fourth quarter. First Trust Advisors LP now owns 1,800,938 shares of the asset manager's stock valued at $147,713,000 after buying an additional 75,919 shares during the period. Finally, Invesco Ltd. increased its position in shares of SEI Investments by 4.1% during the third quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager's stock valued at $146,920,000 after buying an additional 68,873 shares during the period. Institutional investors own 70.59% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on SEIC. Piper Sandler raised their price objective on shares of SEI Investments from $105.00 to $114.00 and gave the stock an "overweight" rating in a report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a report on Tuesday, April 21st. Keefe, Bruyette & Woods increased their target price on SEI Investments from $107.00 to $113.00 and gave the stock an "outperform" rating in a research report on Friday, July 10th. Raymond James Financial raised their target price on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a research note on Monday, July 6th. Finally, Morgan Stanley lifted their price target on SEI Investments from $113.00 to $115.00 and gave the company an "overweight" rating in a research report on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.20.

Insider Transactions at SEI Investments

In related news, insider Philip Mccabe sold 15,000 shares of the company's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total value of $1,377,300.00. Following the transaction, the insider owned 54,884 shares in the company, valued at $5,039,448.88. The trade was a 21.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 4,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total transaction of $364,640.00. Following the sale, the insider directly owned 921 shares in the company, valued at $83,958.36. This trade represents a 81.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 111,332 shares of company stock worth $9,908,883 over the last quarter. Corporate insiders own 4.80% of the company's stock.

SEI Investments Stock Performance

Shares of SEIC opened at $98.17 on Thursday. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. The stock has a market cap of $11.81 billion, a P/E ratio of 16.75 and a beta of 0.97. The business's 50 day moving average price is $90.68 and its 200-day moving average price is $85.39. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $98.58.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (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 during the quarter, compared to analysts' expectations of $641.82 million. During the same quarter in the previous year, the business earned $1.17 earnings per share. The firm's quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments Company will post 5.98 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The business also recently declared a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were given a $0.52 dividend. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments's payout ratio is currently 17.75%.

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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