Lazard Asset Management LLC Has $2.98 Million Holdings in SEI Investments Company $SEIC

Key Points

• Lazard Asset Management increased its SEI Investments position by 85.2% in the first quarter, holding 38,037 shares worth approximately $2.98 million. Institutional investors collectively own 70.59% of the company.
• SEI Investments reported quarterly EPS of $1.66, beating estimates of $1.44, while revenue rose 14.7% year over year to $641.62 million. Analysts maintain a consensus “Buy” rating with a $122.60 price target.
• Company insiders sold 112,332 shares valued at approximately $10.47 million during the latest quarter. SEIC shares opened at $102.98, near their 52-week high of $104.47.

Lazard Asset Management LLC increased its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 85.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,037 shares of the asset manager's stock after acquiring an additional 17,504 shares during the quarter. Lazard Asset Management LLC's holdings in SEI Investments were worth $2,985,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SEIC. CIBC Private Wealth Group LLC increased its stake 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 purchasing an additional 339 shares during the period. Root Financial Partners LLC boosted its stake in SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. grew its holdings in SEI Investments by 60.2% in the 1st 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 last quarter. Rothschild Investment LLC grew its holdings in SEI Investments by 266.9% in the 4th quarter. Rothschild Investment LLC now owns 565 shares of the asset manager's stock valued at $46,000 after buying an additional 411 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its position in SEI Investments by 250.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 694 shares of the asset manager's stock worth $54,000 after buying an additional 496 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Carl Guarino sold 10,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $103.19, for a total value of $1,031,900.00. Following the completion of the transaction, the director directly owned 18,308 shares of the company's stock, valued at approximately $1,889,202.52. This represents a 35.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the business's stock in a transaction on Monday, May 4th. The shares were sold at an average price of $91.07, for a total value 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. This represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 112,332 shares of company stock valued at $10,467,693. 4.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SEIC shares. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. UBS Group reiterated a "buy" rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Morgan Stanley raised their price target on shares of SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $122.60.

SEI Investments Stock Down 0.1%

Shares of SEIC stock opened at $102.98 on Friday. SEI Investments Company has a one year low of $75.08 and a one year high of $104.47. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The stock has a fifty day moving average price of $92.90 and a 200 day moving average price of $86.68. The stock has a market cap of $12.36 billion, a P/E ratio of 18.16 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.44 by $0.22. The company had revenue of $641.62 million during the quarter, compared to analysts' expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The business's revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 EPS. Analysts predict that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments's dividend payout ratio (DPR) is currently 18.34%.

About SEI Investments

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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