Geode Capital Management LLC Buys 109,974 Shares of SEI Investments Company $SEIC

Key Points

• Geode Capital Management increased its SEI Investments stake by 3.9% in the fourth quarter, buying 109,974 additional shares and bringing its holding to 2.89 million shares worth about $237.4 million.
• Wall Street sentiment remains positive, with seven analysts rating SEIC a Buy and one Hold; the consensus target price is $103, implying room above the recent share price of $87.77.
• SEI Investments beat quarterly earnings expectations with $1.44 EPS versus $1.29 expected, while revenue rose 12.9% year over year; the company also announced a $0.52 dividend payable June 16.

Geode Capital Management LLC lifted its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,894,317 shares of the asset manager's stock after acquiring an additional 109,974 shares during the period. Geode Capital Management LLC owned approximately 2.36% of SEI Investments worth $237,421,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Community Bank N.A. bought a new position in shares of SEI Investments in the third quarter worth $35,000. CIBC Private Wealth Group LLC boosted its holdings in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock worth $37,000 after acquiring an additional 339 shares during the period. Allworth Financial LP raised its position in shares of SEI Investments by 44.0% in the third quarter. Allworth Financial LP now owns 432 shares of the asset manager's stock worth $37,000 after buying an additional 132 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after buying an additional 200 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of SEI Investments in the third quarter worth $50,000. 70.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on SEIC shares. UBS Group started coverage on SEI Investments in a research report on Wednesday, February 4th. They issued a "buy" rating and a $115.00 price objective on the stock. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Raymond James Financial reiterated an "outperform" rating and issued a $82.00 price objective on shares of SEI Investments in a research report on Wednesday, April 29th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Finally, Morgan Stanley lowered their price objective on SEI Investments from $119.00 to $108.00 and set an "overweight" rating on the stock in a research report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $103.00.

SEI Investments Trading Down 0.6%

Shares of SEIC stock opened at $87.77 on Wednesday. The company has a market capitalization of $10.56 billion, a PE ratio of 14.98 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $93.96. The business's fifty day moving average is $84.74 and its 200 day moving average is $83.37.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.29 by $0.15. The business had revenue of $622.18 million for the quarter, compared to analysts' expectations of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm's revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.17 earnings per share. On average, equities research analysts anticipate that SEI Investments Company will post 5.89 EPS for the current fiscal year.

SEI Investments Announces Dividend

The company also recently announced a dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 8th will be paid a $0.52 dividend. This represents a yield of 116.0%. The ex-dividend date of this dividend is Monday, June 8th. SEI Investments's dividend payout ratio is currently 17.75%.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 55,000 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $80.23, for a total value of $4,412,650.00. Following the transaction, the chairman owned 6,883,230 shares of the company's stock, valued at $552,241,542.90. This represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Sharma sold 25,000 shares of the stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the transaction, the insider directly owned 39,829 shares in the company, valued at approximately $3,589,389.48. This represents a 38.56% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 116,447 shares of company stock valued at $9,908,539 over the last quarter. Insiders own 4.80% of the company's stock.

SEI Investments Company 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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