Oxbow Advisors LLC Purchases New Position in SEI Investments Company $SEIC

Key Points

• Oxbow Advisors LLC opened a new position in SEI Investments, buying 41,842 shares worth about $3.28 million in the first quarter.
• Several other institutional investors also adjusted their holdings, and overall institutions own 70.59% of SEI Investments stock.
• Insiders have been selling shares recently, including chairman Alfred P. West, Jr. and insider Philip Mccabe, while analysts maintain a Moderate Buy consensus with a $103 average price target.

Oxbow Advisors LLC purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 41,842 shares of the asset manager's stock, valued at approximately $3,283,000.

A number of other large investors have also added to or reduced their stakes in SEIC. HB Wealth Management LLC purchased a new position in shares of SEI Investments in the first quarter valued at $205,000. World Investment Advisors raised its stake in SEI Investments by 9.2% during the first quarter. World Investment Advisors now owns 3,688 shares of the asset manager's stock valued at $289,000 after purchasing an additional 311 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in SEI Investments during the first quarter valued at $3,625,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its position in SEI Investments by 10.8% during the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 43,464 shares of the asset manager's stock valued at $3,411,000 after purchasing an additional 4,247 shares during the last quarter. Finally, Root Financial Partners LLC lifted its position in SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after purchasing an additional 141 shares during the last quarter. Institutional investors own 70.59% of the company's stock.

Insider Buying and Selling at SEI Investments

In related news, insider Philip Mccabe sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total transaction of $1,377,300.00. Following the completion of the sale, the insider directly owned 54,884 shares of the company's stock, valued at approximately $5,039,448.88. This trade represents a 21.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 50,000 shares of the business's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the transaction, the chairman owned 6,825,783 shares of the company's stock, valued at approximately $595,549,566.75. The trade was a 0.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 111,332 shares of company stock valued at $9,908,883. 4.80% of the stock is owned by company insiders.

Analyst Ratings Changes

SEIC has been the subject of a number of recent research reports. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research note on Tuesday, April 21st. Raymond James Financial reaffirmed an "outperform" rating and issued a $82.00 price target on shares of SEI Investments in a report on Wednesday, April 29th. Morgan Stanley dropped their price target 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. Keefe, Bruyette & Woods boosted their price objective on SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a research note on Thursday, April 23rd. 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 analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

SEI Investments Stock Performance

Shares of SEIC opened at $91.43 on Friday. The company's fifty day simple moving average is $89.90 and its 200-day simple moving average is $84.75. The company has a market cap of $11.00 billion, a P/E ratio of 15.60 and a beta of 0.97. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.29 by $0.15. The firm had revenue of $622.18 million during the quarter, compared to analysts' expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.17 EPS. As a group, analysts expect that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were given a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments's payout ratio is 17.75%.

SEI Investments 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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