SEI Investments Company $SEIC Position Lifted by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its SEI Investments stake by 1.2% in the first quarter, ending with 1,822,669 shares valued at about $143.0 million.
• SEI Investments reported better-than-expected second-quarter results, with EPS of $1.66 versus $1.44 expected and revenue of $641.62 million topping estimates. Revenue rose 14.7% year over year, and analysts now expect full-year EPS of 5.98.
• Analysts remain broadly positive on the stock, with several firms raising price targets; the consensus rating is Moderate Buy and the average target price is $122.60.

First Trust Advisors LP grew its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 1.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,822,669 shares of the asset manager's stock after purchasing an additional 21,731 shares during the quarter. First Trust Advisors LP owned approximately 1.52% of SEI Investments worth $143,025,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Bison Wealth LLC bought a new position in SEI Investments during the 4th quarter worth approximately $207,000. Baird Financial Group Inc. acquired a new position in shares of SEI Investments in the 1st quarter worth approximately $201,000. Geneos Wealth Management Inc. increased its holdings in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after acquiring an additional 200 shares during the last quarter. M&T Bank Corp raised its position in shares of SEI Investments by 11.9% during the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock valued at $289,000 after acquiring an additional 341 shares in the last quarter. Finally, CW Advisors LLC acquired a new stake in shares of SEI Investments during the 2nd quarter valued at approximately $280,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of SEIC opened at $96.73 on Friday. SEI Investments Company has a one year low of $75.08 and a one year high of $102.29. The firm has a market capitalization of $11.63 billion, a price-to-earnings ratio of 17.06 and a beta of 0.97. The stock's fifty day moving average is $91.54 and its 200-day moving average is $86.04. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million during the quarter, compared to analysts' expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.42%. The business's revenue was up 14.7% on a year-over-year basis. During the same period last year, the firm posted $1.78 earnings per share. Equities analysts anticipate that SEI Investments Company will post 5.98 EPS for the current year.

SEI Investments Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group reaffirmed a "buy" rating and issued a $125.00 price objective on shares of SEI Investments in a report on Thursday. Morgan Stanley increased their target price on shares of SEI Investments from $115.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $113.00 to $119.00 and gave the stock an "outperform" rating in a research report on Thursday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a report on Friday, July 17th. Finally, Piper Sandler boosted their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the company an "overweight" rating in a research report on Thursday. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $122.60.

Trending Headlines about SEI Investments

Here are the key news stories impacting SEI Investments this week:

• Positive Sentiment: SEI Investments beat Q2 earnings expectations, reporting $1.66 per share versus consensus around $1.44-$1.45, while revenue came in above estimates at $641.62 million. The company also said revenue rose 14.7% year over year and operating income increased 33%, with operating margin reaching 31%. Article Title
• Positive Sentiment: Management highlighted record growth in revenue and EPS in the Q2 earnings call, which should support confidence in the company’s operating momentum and ability to convert higher activity into profits. Article Title
• Positive Sentiment: Analysts turned more constructive after the report: Morgan Stanley raised its price target to $125 and reiterated an overweight rating, while Keefe, Bruyette & Woods lifted its target to $119 with an outperform rating. Article Title
• Positive Sentiment: Assets under management and assets under administration reportedly rose year over year, reinforcing that the business is still seeing healthy client inflows and scale benefits. Article Title
• Neutral Sentiment: Despite the earnings beat, EPS was below last year’s level, which may have tempered enthusiasm and limited the stock’s upside reaction. Article Title

Insider Buying and Selling

In related news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the transaction, the director owned 77,883 shares of the company's stock, valued at approximately $7,092,804.81. This trade represents a 11.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 7,332 shares of the business's stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $87.39, for a total transaction of $640,743.48. Following the sale, the chairman owned 6,818,451 shares in the company, valued at $595,864,432.89. This represents a 0.11% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 71,332 shares of company stock worth $6,278,583. Corporate insiders own 4.80% of the company's stock.

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.

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.