Intech Investment Management LLC Purchases 18,772 Shares of SEI Investments Company $SEIC

Key Points

• Intech Investment Management LLC increased its stake in SEI Investments by 62.7% in the fourth quarter, buying 18,772 additional shares and bringing its total holdings to 48,699 shares worth about $3.99 million.
• Insiders have been selling stock, including Director Kathryn McCarthy and insider Sanjay Sharma, with total insider sales reaching 116,447 shares valued at about $9.9 million over the past 90 days.
• SEI Investments beat quarterly earnings expectations, reporting $1.44 EPS versus the $1.29 estimate, while analysts maintain a Moderate Buy consensus with an average price target of $103.

Intech Investment Management LLC boosted its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 62.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,699 shares of the asset manager's stock after acquiring an additional 18,772 shares during the period. Intech Investment Management LLC's holdings in SEI Investments were worth $3,994,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Community Bank N.A. bought a new stake in shares of SEI Investments in the 3rd quarter valued at about $35,000. Allworth Financial LP boosted its stake in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager's stock valued at $37,000 after purchasing an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock valued at $37,000 after buying an additional 339 shares during the period. Geneos Wealth Management Inc. increased its holdings in SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after buying an additional 200 shares during the period. Finally, Abich Financial Wealth Management LLC bought a new position in SEI Investments in the third quarter worth approximately $50,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Activity at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction on Monday, May 4th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the sale, the director directly owned 77,883 shares in the company, valued at approximately $7,092,804.81. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sanjay Sharma sold 25,000 shares of the business's stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total transaction of $2,253,000.00. Following the sale, the insider directly owned 39,829 shares in the company, valued at $3,589,389.48. This trade represents a 38.56% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 116,447 shares of company stock worth $9,908,539 in the last 90 days. 4.80% of the stock is owned by insiders.

SEI Investments Stock Up 0.5%

Shares of SEIC stock opened at $88.32 on Tuesday. The stock's fifty day moving average price is $84.74 and its 200 day moving average price is $83.37. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The company has a market cap of $10.62 billion, a price-to-earnings ratio of 15.07 and a beta of 0.97. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40.

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

SEI Investments Announces Dividend

The business 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. The ex-dividend date is Monday, June 8th. This represents a yield of 116.0%. SEI Investments's dividend payout ratio (DPR) is 17.75%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on SEIC shares. Morgan Stanley lowered their target price on SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Piper Sandler restated an "overweight" rating and set a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. UBS Group began coverage on SEI Investments in a research report on Wednesday, February 4th. They set a "buy" rating and a $115.00 price objective on the stock. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $82.00 target price on shares of SEI Investments in a research note on Wednesday, April 29th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.