Element Capital Management LLC Makes New Investment in SEI Investments Company $SEIC

Key Points

• Element Capital Management LLC has invested approximately $2.70 million in SEI Investments Company, acquiring 34,813 shares in the asset management firm.
• SEI Investments reported a quarterly earnings per share (EPS) of $1.78, significantly exceeding analysts' expectations of $1.18, with revenue rising by 7.8% year-over-year.
• The company recently increased its quarterly dividend to $0.49 per share, which represents a yield of 2.2%, up from a previous dividend of $0.46.

Element Capital Management LLC purchased a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 34,813 shares of the asset manager's stock, valued at approximately $2,703,000.

Several other institutional investors and hedge funds have also modified their holdings of SEIC. Versant Capital Management Inc boosted its holdings in shares of SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. raised its position in SEI Investments by 38.9% during 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 during the last quarter. Farther Finance Advisors LLC raised its position in SEI Investments by 104.3% during 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 during the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of 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 valued at $106,000 after purchasing an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of SEI Investments in the 1st quarter valued at about $132,000. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Stock Down 0.5%

Shares of NASDAQ SEIC traded down $0.41 during trading hours on Tuesday, reaching $88.21. 551,839 shares of the stock traded hands, compared to its average volume of 850,481. The company has a market capitalization of $10.90 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The company's 50-day simple moving average is $88.68 and its two-hundred day simple moving average is $82.38.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. The firm had revenue of $559.60 million during 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 business's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.05 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's payout ratio is presently 18.39%.

Insider Activity at SEI Investments

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on SEIC. Oppenheimer increased their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating and set a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Piper Sandler dropped their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price target (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Finally, Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

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.