SEI Investments Company (NASDAQ:SEIC) Position Increased by Ontario Teachers Pension Plan Board

Key Points

• The Ontario Teachers Pension Plan Board increased its holdings in SEI Investments Company by 75.3% during the first quarter, now owning approximately $1.22 million worth of shares.
• SEI Investments reported earnings of $1.78 per share, exceeding analysts' expectations, with a revenue increase of 7.8% year-over-year.
• The company declared a quarterly dividend of $0.49 per share, marking a rise from the previous dividend of $0.46, and representing a yield of 2.2%.

Ontario Teachers Pension Plan Board lifted its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 75.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,697 shares of the asset manager's stock after purchasing an additional 6,742 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in SEI Investments were worth $1,219,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SEIC. Versant Capital Management Inc grew its holdings 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 acquiring an additional 331 shares during the period. First Horizon Advisors Inc. grew its holdings in SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after acquiring an additional 225 shares during the period. Farther Finance Advisors LLC grew its holdings in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after acquiring an additional 681 shares during the period. Cullen Frost Bankers Inc. grew its holdings in SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after acquiring an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in SEI Investments during the first quarter worth $132,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Morgan Stanley reissued an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Oppenheimer upped their target price on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler lowered their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Finally, Raymond James Financial upped their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 66,126 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the completion of the sale, the chairman owned 6,937,582 shares in the company, valued at $584,699,410.96. This trade represents a 0.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider owned 1,300 shares of the company's stock, valued at approximately $115,375. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 237,126 shares of company stock valued at $20,082,409. Company insiders own 14.30% of the company's stock.

SEI Investments Stock Up 0.7%

Shares of SEIC traded up $0.62 during trading hours on Tuesday, reaching $88.06. 568,585 shares of the company traded hands, compared to its average volume of 858,528. The stock has a market capitalization of $10.89 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 1.39 and a beta of 0.95. SEI Investments Company has a fifty-two week low of $64.51 and a fifty-two week high of $93.96. The stock has a fifty day simple moving average of $88.35 and a 200 day simple moving average of $82.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $550.72 million. During the same period in the prior year, the business posted $1.05 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.2%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments's payout ratio is 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.