SEI Investments Company (NASDAQ:SEIC) Stake Increased by Townsquare Capital LLC

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 boosted its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 29.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,112 shares of the asset manager's stock after acquiring an additional 10,138 shares during the period. Townsquare Capital LLC's holdings in SEI Investments were worth $3,424,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after acquiring an additional 331 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of SEI Investments by 38.9% in 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 last quarter. Farther Finance Advisors LLC raised 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 acquiring an additional 681 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in SEI Investments by 1,563.4% during the first 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. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in SEI Investments during the first quarter worth approximately $132,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Trading Up 0.3%

Shares of NASDAQ:SEIC traded up $0.27 on Thursday, reaching $88.81. 609,022 shares of the company were exchanged, compared to its average volume of 854,554. The company has a 50-day moving average of $88.48 and a 200-day moving average of $82.33. The firm has a market cap of $10.98 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96.

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 for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. The business had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company's revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.05 EPS. As a group, analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were issued a $0.49 dividend. This is a boost from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. This represents a $1.96 annualized dividend and a yield of 2.2%. SEI Investments's payout ratio is presently 18.39%.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction on 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 transaction, the chairman owned 7,003,708 shares in the company, valued at approximately $600,778,072.24. This trade represents a 1.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, 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 sold a total of 146,126 shares of company stock valued at $12,450,349 over the last quarter. 14.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SEIC. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Oppenheimer raised their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Raymond James Financial upped their price target on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Finally, Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $102.00.

SEI Investments 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.