Legal & General Group Plc Has $15.60 Million Holdings in SEI Investments Company $SEIC

Key Points

• Legal & General Group Plc reduced its SEI Investments holdings by 17.3% in the fourth quarter, selling 39,742 shares and leaving it with 190,243 shares valued at about $15.6 million.
• SEI Investments reported better-than-expected earnings of $1.44 per share for the latest quarter, though revenue of $622.18 million came in below consensus estimates. Revenue still rose 12.9% year over year.
• The company recently announced a $0.52 dividend payable June 16, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $103.

Legal & General Group Plc cut its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 17.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 190,243 shares of the asset manager's stock after selling 39,742 shares during the quarter. Legal & General Group Plc owned approximately 0.16% of SEI Investments worth $15,604,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Community Bank N.A. bought a new position in SEI Investments in the third quarter valued at about $35,000. Allworth Financial LP raised its position in SEI Investments by 44.0% in 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 during the last quarter. CIBC Private Wealth Group LLC raised its position in SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock valued at $37,000 after purchasing an additional 339 shares during the last quarter. Geneos Wealth Management Inc. raised its position in SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. Finally, Abich Financial Wealth Management LLC bought a new position in SEI Investments in the third quarter valued at about $50,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of SEIC opened at $88.32 on Tuesday. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $10.62 billion, a P/E ratio of 15.07 and a beta of 0.97. The firm's fifty day simple moving average is $84.74 and its two-hundred day simple moving average is $83.37. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.15. The business had revenue of $622.18 million during the quarter, compared to the consensus estimate 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 for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.17 earnings per share. As a group, analysts predict that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Dividend Announcement

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

Insiders Place Their Bets

In other SEI Investments news, insider Sanjay Sharma sold 25,000 shares of SEI Investments stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the sale, the insider directly owned 39,829 shares in the company, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Philip Mccabe sold 15,000 shares of SEI Investments stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total value of $1,377,300.00. Following the completion of the sale, the insider owned 54,884 shares of the company's stock, valued at approximately $5,039,448.88. The trade was a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 116,447 shares of company stock valued at $9,908,539 in the last 90 days. Company insiders own 4.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. UBS Group assumed coverage on SEI Investments in a research report on Wednesday, February 4th. They issued a "buy" rating and a $115.00 target price for the company. Raymond James Financial reiterated an "outperform" rating and issued a $82.00 target price on shares of SEI Investments in a research report on Wednesday, April 29th. Morgan Stanley lowered their price objective on SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a research report on Thursday, April 2nd. Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Finally, 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 report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average 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.

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