Impact Partnership Wealth LLC Takes $286,000 Position in SEI Investments Company (NASDAQ:SEIC)

Impact Partnership Wealth LLC acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,682 shares of the asset manager's stock, valued at approximately $286,000.

Several other institutional investors and hedge funds have also modified their holdings of SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the fourth quarter worth $31,000. Versant Capital Management Inc grew its holdings in 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 purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in SEI Investments by 33.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 943 shares of the asset manager's stock valued at $77,000 after purchasing an additional 238 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings 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 valued at $103,000 after purchasing an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Buying and Selling at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the sale, the insider owned 23,895 shares of the company's stock, valued at approximately $1,992,843. This trade represents a 45.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $14,276,233.60. This trade represents 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 worth $19,638,659 in the last 90 days. Corporate insiders own 14.60% of the company's stock.

Analysts Set New Price Targets

SEIC has been the subject of several recent analyst reports. Morgan Stanley reissued an "overweight" rating and set a $100.00 price objective (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Oppenheimer boosted their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler boosted their price objective on shares of SEI Investments from $79.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $96.00.

SEI Investments Price Performance

NASDAQ:SEIC opened at $92.82 on Friday. The firm's fifty day moving average price is $87.07 and its two-hundred day moving average price is $81.54. The company has a market cap of $11.56 billion, a P/E ratio of 20.18, a P/E/G ratio of 1.58 and a beta of 0.92. SEI Investments Company has a one year low of $62.38 and a one year high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. SEI Investments's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.99 earnings per share. As a group, equities research analysts expect that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued a $0.49 dividend. The ex-dividend date was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.11%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is 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.

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