MQS Management LLC Takes Position in SEI Investments Company (NASDAQ:SEIC)

MQS Management LLC acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 7,683 shares of the asset manager's stock, valued at approximately $596,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank acquired a new stake in SEI Investments in the fourth quarter valued at $48,009,000. Raymond James Financial Inc. acquired a new stake in SEI Investments in the fourth quarter valued at $42,548,000. GAMMA Investing LLC grew its holdings in SEI Investments by 9,563.5% in the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock valued at $36,526,000 after purchasing an additional 465,646 shares during the last quarter. FMR LLC grew its holdings in SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new stake in SEI Investments in the fourth quarter valued at $23,710,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on SEIC shares. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Oppenheimer upped their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Piper Sandler upped their price objective on SEI Investments from $79.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Finally, Morgan Stanley restated an "overweight" rating and issued a $100.00 price objective (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, SEI Investments has an average rating of "Moderate Buy" and a consensus target price of $96.00.

SEI Investments Stock Performance

NASDAQ SEIC traded down $1.47 during trading hours on Friday, hitting $92.33. 597,653 shares of the company's stock were exchanged, compared to its average volume of 750,205. The business's 50 day moving average is $85.89 and its 200-day moving average is $81.21. SEI Investments Company has a 12-month low of $62.38 and a 12-month high of $93.82. The firm has a market capitalization of $11.49 billion, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The firm had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. During the same period in the prior year, the business posted $0.99 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, equities research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.12%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's dividend payout ratio (DPR) is 21.30%.

SEI Investments declared that its board has approved a share repurchase program on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at SEI Investments

In other news, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the transaction, the chief executive officer directly owned 171,260 shares in the company, valued at $14,276,233.60. This trade represents a 10.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the transaction, the insider owned 23,895 shares in the company, valued at approximately $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,126 shares of company stock valued at $19,638,659. 14.60% of the stock is owned by company insiders.

SEI Investments 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.