Foyston Gordon & Payne Inc Acquires 22,019 Shares of SEI Investments Company (NASDAQ:SEIC)

Key Points

• Foyston Gordon & Payne Inc increased its holdings in SEI Investments by 18.4%, acquiring an additional 22,019 shares to reach a total of 141,742 shares valued at approximately $11 million.
• Analysts have revised their target prices for SEI Investments, with Raymond James boosting its target to $118.00 and Oppenheimer raising it to $101.00, reflecting confidence in the company's future performance.
• SEI Investments recently announced a quarterly dividend increase from $0.46 to $0.49, indicating a commitment to returning value to shareholders with an annualized yield of 2.2%.

Foyston Gordon & Payne Inc raised its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 18.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 141,742 shares of the asset manager's stock after acquiring an additional 22,019 shares during the period. SEI Investments makes up 2.7% of Foyston Gordon & Payne Inc's holdings, making the stock its 13th largest position. Foyston Gordon & Payne Inc owned 0.11% of SEI Investments worth $11,003,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Meiji Yasuda Life Insurance Co increased its stake in SEI Investments by 3.6% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager's stock valued at $379,000 after purchasing an additional 160 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of SEI Investments by 2.9% in the 1st quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager's stock valued at $435,000 after buying an additional 160 shares during the period. GHE LLC increased its position in shares of SEI Investments by 2.0% in the 4th quarter. GHE LLC now owns 9,126 shares of the asset manager's stock valued at $753,000 after buying an additional 183 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. raised its stake in SEI Investments by 8.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager's stock worth $208,000 after buying an additional 200 shares during the period. Finally, iA Global Asset Management Inc. raised its stake in SEI Investments by 12.4% during the 1st quarter. iA Global Asset Management Inc. now owns 1,835 shares of the asset manager's stock worth $142,000 after buying an additional 202 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SEIC. Raymond James Financial boosted their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 target price (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. 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 note on Tuesday, July 8th. Finally, Morgan Stanley reissued an "overweight" rating and set a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $102.00.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the completion of the transaction, the chairman directly owned 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares in the company, valued at $115,375. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 146,126 shares of company stock worth $12,450,349. 14.60% of the stock is owned by company insiders.

SEI Investments Stock Down 0.7%

NASDAQ:SEIC opened at $88.19 on Friday. The company has a market cap 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 twelve month low of $64.66 and a twelve month high of $93.96. The business has a 50 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 EPS for the quarter, topping the consensus estimate of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The business had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. As a group, analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a $0.49 dividend. This is an increase from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's dividend payout ratio (DPR) is presently 18.39%.

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.

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