LPL Financial LLC Grows Stock Holdings in SEI Investments Company (NASDAQ:SEIC)

LPL Financial LLC raised its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,455 shares of the asset manager's stock after purchasing an additional 5,291 shares during the quarter. LPL Financial LLC owned 0.08% of SEI Investments worth $7,255,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Versant Capital Management Inc boosted its position in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after acquiring an additional 225 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after acquiring an additional 681 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of SEI Investments by 1,563.4% in the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after acquiring an additional 1,282 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of SEI Investments in the first quarter valued at approximately $132,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $0.13 during midday trading on Thursday, hitting $88.67. The company had a trading volume of 363,238 shares, compared to its average volume of 853,735. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The stock has a market cap of $10.96 billion, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. The business's 50-day simple moving average is $88.48 and its 200-day simple moving average is $82.33.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The firm had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same quarter last year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, sell-side analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a yield of 2.2%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's payout ratio is 18.39%.

Analyst Ratings Changes

SEIC has been the topic of several research reports. Oppenheimer raised their target price on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Raymond James Financial raised their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Finally, Morgan Stanley restated an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, SEI Investments currently has a consensus rating of "Moderate Buy" and an average target price of $102.00.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the sale, the insider owned 1,300 shares of the company's stock, valued at $115,375. This trade represents a 79.37% 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, Chairman Alfred P. West, Jr. sold 66,126 shares of the firm's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total value of $5,573,099.28. Following the sale, the chairman directly owned 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,126 shares of company stock valued at $12,450,349. 14.60% of the stock is owned by insiders.

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.