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

LPL Financial LLC grew its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 93,455 shares of the asset manager's stock after acquiring an additional 5,291 shares during the quarter. LPL Financial LLC owned about 0.08% of SEI Investments worth $7,255,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Boston Trust Walden Corp increased its stake in SEI Investments by 1.5% in the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock worth $102,897,000 after buying an additional 19,150 shares during the period. FMR LLC increased its stake in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after buying an additional 348,112 shares during the period. Northern Trust Corp increased its stake in SEI Investments by 20.9% in the 4th quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock worth $88,104,000 after buying an additional 184,339 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in SEI Investments by 38.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager's stock worth $62,358,000 after buying an additional 209,850 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its stake in SEI Investments by 108.7% in the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 532,336 shares of the asset manager's stock worth $43,907,000 after buying an additional 277,252 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the sale, the chairman owned 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the business'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 directly owned 1,300 shares of the company's stock, valued at approximately $115,375. The trade was a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 146,126 shares of company stock valued at $12,450,349. 14.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on SEIC. Piper Sandler reduced their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Oppenheimer raised their price target on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Raymond James Financial raised their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $102.00.

SEI Investments Stock Performance

Shares of SEIC traded down $0.62 during trading hours on Friday, hitting $88.20. The stock had a trading volume of 66,936 shares, compared to its average volume of 850,111. The firm has a 50-day moving average price of $88.55 and a 200 day moving average price of $82.37. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.57, a PEG ratio of 1.41 and a beta of 0.95.

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

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 9th. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 18.39%.

SEI Investments Company Profile

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.