GAMMA Investing LLC Raises Position in SEI Investments (NASDAQ:SEIC)

GAMMA Investing LLC grew its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 9,563.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 470,515 shares of the asset manager's stock after acquiring 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 filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in SEIC. Norges Bank purchased a new position in shares of SEI Investments in the fourth quarter valued at about $48,009,000. Raymond James Financial Inc. purchased a new position in shares of SEI Investments in the fourth quarter valued at about $42,548,000. FMR LLC increased its holdings in shares of SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of SEI Investments in the fourth quarter worth about $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new stake in shares of SEI Investments in the fourth quarter worth about $23,710,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the transaction, the chairman now directly owns 6,937,582 shares in the company, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the insider now owns 23,895 shares of the company's stock, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock worth $19,638,659 over the last 90 days. Company insiders own 14.60% of the company's stock.

SEI Investments Price Performance

Shares of SEIC traded up $0.05 during mid-day trading on Thursday, reaching $85.21. 1,102,546 shares of the company's stock traded hands, compared to its average volume of 720,435. The stock has a market cap of $10.61 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.41 and a beta of 0.90. The stock's 50-day moving average is $78.37 and its two-hundred day moving average is $80.34. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. The firm had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. SEI Investments's quarterly revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.99 earnings per share. Research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.49 per share. The ex-dividend date is Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a yield of 2.30%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is currently 21.30%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SEIC. William Blair reissued a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Piper Sandler boosted their price objective on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Morgan Stanley boosted their price objective on SEI Investments from $82.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

SEI Investments Company 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.