SEI Investments Company $SEIC Shares Acquired by Crossmark Global Holdings Inc.

Key Points

• Crossmark Global Holdings raised its stake in SEI Investments by 277.8% in the third quarter, increasing to 35,545 shares worth about $3.02 million according to the firm's latest 13F filing.
• Company insiders have been selling recently — CEO Ryan Hicke sold 80,000 shares for roughly $6.99 million and Mark Andrew Warner sold 4,000 shares — leaving insiders with about 14.6% ownership.
• In its most recent quarter SEI reported $1.30 EPS, missing consensus by $0.04, while revenue of $607.93 million beat estimates and rose about 9.1% year-over-year.

Crossmark Global Holdings Inc. lifted its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 277.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,545 shares of the asset manager's stock after buying an additional 26,137 shares during the quarter. Crossmark Global Holdings Inc.'s holdings in SEI Investments were worth $3,016,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in SEI Investments in the 2nd quarter worth approximately $55,685,000. Jupiter Asset Management Ltd. purchased a new stake in shares of SEI Investments during the second quarter valued at approximately $37,490,000. Azora Capital LP lifted its position in shares of SEI Investments by 109.3% during the second quarter. Azora Capital LP now owns 777,952 shares of the asset manager's stock worth $69,907,000 after purchasing an additional 406,287 shares in the last quarter. Swiss National Bank acquired a new position in shares of SEI Investments during the second quarter worth $18,340,000. Finally, Qube Research & Technologies Ltd boosted its stake in shares of SEI Investments by 76.1% in the second quarter. Qube Research & Technologies Ltd now owns 420,079 shares of the asset manager's stock valued at $37,748,000 after purchasing an additional 181,586 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $81.74, for a total value of $326,960.00. Following the completion of the transaction, the insider directly owned 921 shares in the company, valued at approximately $75,282.54. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Hicke sold 80,000 shares of SEI Investments stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $87.36, for a total value of $6,988,800.00. Following the completion of the transaction, the chief executive officer owned 197,164 shares of the company's stock, valued at $17,224,247.04. This trade represents a 28.86% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 14.60% of the company's stock.

SEI Investments Stock Down 0.7%

Shares of NASDAQ:SEIC opened at $81.44 on Friday. The company has a current ratio of 3.29, a quick ratio of 3.20 and a debt-to-equity ratio of 0.04. The company has a fifty day simple moving average of $83.74 and a 200 day simple moving average of $83.85. The firm has a market cap of $9.96 billion, a PE ratio of 14.47 and a beta of 0.96. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The asset manager reported $1.30 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.04). The company had revenue of $607.93 million for the quarter, compared to the consensus estimate of $596.97 million. SEI Investments had a net margin of 31.14% and a return on equity of 30.26%. The company's revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 earnings per share. On average, equities research analysts anticipate that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Announces Dividend

The business also recently announced a dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, December 29th were paid a $0.52 dividend. This represents a dividend yield of 124.0%. The ex-dividend date was Monday, December 29th. SEI Investments's dividend payout ratio is 18.47%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SEIC shares. Raymond James Financial reaffirmed an "outperform" rating and set a $117.00 price target on shares of SEI Investments in a report on Monday, January 5th. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a report on Thursday, January 22nd. UBS Group started coverage on shares of SEI Investments in a research report on Wednesday, February 4th. They issued a "buy" rating and a $115.00 price objective for the company. Piper Sandler reaffirmed an "overweight" rating and set a $106.00 target price on shares of SEI Investments in a research report on Friday, February 20th. Finally, Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, November 11th. Seven investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $109.67.

SEI Investments Company 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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