Picton Mahoney Asset Management Purchases New Holdings in SEI Investments Company (NASDAQ:SEIC)

Key Points

• Picton Mahoney Asset Management invested approximately $1.13 million in SEI Investments, acquiring 14,502 shares during the first quarter.
• Institutional investors and hedge funds collectively own 70.59% of SEI Investments, with Mackenzie Financial and LPL Financial increasing their positions substantially in Q1.
• SEI Investments recently raised its quarterly dividend to $0.49, reflecting a yield of 2.21%, up from the previous dividend of $0.46.

Picton Mahoney Asset Management purchased 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 and Exchange Commission (SEC). The firm purchased 14,502 shares of the asset manager's stock, valued at approximately $1,125,000.

A number of other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after purchasing an additional 225 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of SEI Investments by 33.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 943 shares of the asset manager's stock worth $77,000 after purchasing an additional 238 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of SEI Investments by 104.3% during the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after purchasing an additional 681 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in shares of SEI Investments by 1,563.4% during the 1st quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after purchasing an additional 1,282 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 75,000 shares of the company's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the transaction, the chairman owned 7,003,708 shares of the company's stock, valued at $600,778,072.24. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the sale, the insider directly owned 23,895 shares of the company's stock, valued at approximately $1,992,843. The trade was a 45.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 237,126 shares of company stock worth $20,082,409. Company insiders own 14.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Oppenheimer lifted their target price on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Piper Sandler reduced their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Thursday, July 24th. Finally, William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $102.00.

SEI Investments Price Performance

SEIC traded up $1.71 during trading on Monday, hitting $88.16. The stock had a trading volume of 237,994 shares, compared to its average volume of 869,167. The company has a 50 day moving average price of $88.02 and a 200-day moving average price of $82.09. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 1.37 and a beta of 0.95. SEI Investments Company has a one year low of $62.38 and a one year high of $93.96.

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, beating analysts' consensus estimates of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The company's revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.05 EPS. As a group, sell-side analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis 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 currently 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.