Townsquare Capital LLC Grows Stock Position in SEI Investments Company (NASDAQ:SEIC)

Key Points

• Townsquare Capital LLC increased its holdings in SEI Investments by 29.8%, owning 44,112 shares valued at approximately $3.42 million.
• SEI Investments reported a strong quarterly earnings performance with an EPS of $1.78, exceeding analyst expectations, and a revenue of $559.60 million, up 7.8% from the previous year.
• The company also announced a quarterly dividend increase to $0.49 per share, reflecting a 2.2% yield, up from the previous dividend of $0.46.

Townsquare Capital LLC grew its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 29.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,112 shares of the asset manager's stock after purchasing an additional 10,138 shares during the quarter. Townsquare Capital LLC's holdings in SEI Investments were worth $3,424,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc grew its stake in shares of SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after acquiring an additional 331 shares during the period. First Horizon Advisors Inc. grew its stake 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 valued at $62,000 after acquiring an additional 225 shares during the period. Farther Finance Advisors LLC grew its stake 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 valued at $103,000 after acquiring an additional 681 shares during the period. Cullen Frost Bankers Inc. grew its stake 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 valued at $106,000 after acquiring an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of SEI Investments during the 1st quarter valued at approximately $132,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 66,126 shares of the company'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 sale, the chairman directly owned 6,937,582 shares of the company's stock, valued at $584,699,410.96. This represents a 0.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider directly owned 1,300 shares in the company, valued at $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,126 shares of company stock worth $12,450,349 over the last ninety days. Insiders own 14.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Raymond James Financial boosted their price objective on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research note on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Piper Sandler dropped their price target 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, Oppenheimer upped their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

SEI Investments Stock Down 0.7%

SEIC stock traded down $0.64 during midday trading on Friday, hitting $88.18. The company's stock had a trading volume of 114,468 shares, compared to its average volume of 850,511. SEI Investments Company has a 12 month low of $64.66 and a 12 month high of $93.96. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95. The company has a 50 day moving average of $88.55 and a two-hundred day moving average of $82.37.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. The business had revenue of $559.60 million for the quarter, compared to analysts' expectations 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 for the quarter was up 7.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. On average, analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued a dividend of $0.49 per share. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. SEI Investments's payout ratio is currently 18.39%.

About SEI Investments

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.