GAMMA Investing LLC Increases Holdings in SEI Investments (NASDAQ:SEIC)

GAMMA Investing LLC grew its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 9,563.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 470,515 shares of the asset manager's stock after purchasing an additional 465,646 shares during the period. GAMMA Investing LLC owned about 0.37% of SEI Investments worth $36,526,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. CoreFirst Bank & Trust purchased a new position in SEI Investments during the fourth quarter valued at $31,000. Allworth Financial LP lifted its position in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. Versant Capital Management Inc lifted its position in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. lifted its position in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in SEI Investments during the fourth quarter valued at $55,000. Institutional investors own 70.59% of the company's stock.

Insiders Place Their Bets

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the sale, the insider now directly owns 23,895 shares of the company's stock, valued at $1,992,843. The trade was a 45.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 21,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the sale, the chief executive officer now directly owns 171,260 shares in the company, valued at $14,276,233.60. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,126 shares of company stock valued at $19,638,659 over the last ninety days. 14.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on SEIC. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Piper Sandler boosted their price objective on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their price objective on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, SEI Investments presently has an average rating of "Moderate Buy" and an average price target of $88.00.

SEI Investments Price Performance

Shares of SEIC stock traded up $0.43 during trading hours on Friday, hitting $85.64. The stock had a trading volume of 776,687 shares, compared to its average volume of 721,903. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The stock's 50-day moving average price is $78.69 and its two-hundred day moving average price is $80.42. The stock has a market capitalization of $10.66 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.41 and a beta of 0.91.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. As a group, equities research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.49 per share. This is a boost from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.29%. The ex-dividend date is Monday, June 9th. SEI Investments's payout ratio is presently 21.30%.

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.