Y Intercept Hong Kong Ltd Takes Position in SEI Investments Company $SEIC

Key Points

• Y Intercept Hong Kong Ltd opened a new position in SEI Investments during the first quarter, buying 46,201 shares valued at about $3.63 million.
• SEI Investments reported better-than-expected quarterly earnings of $1.44 per share, though revenue came in slightly below estimates at $622.2 million.
• The stock has drawn mixed trading activity: hedge funds own 70.59% of shares, while insiders sold shares last quarter and analysts remain broadly positive with a Moderate Buy rating and $110 average target price.

Y Intercept Hong Kong Ltd purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 46,201 shares of the asset manager's stock, valued at approximately $3,625,000.

Other hedge funds have also recently bought and sold shares of the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. lifted its position in shares of SEI Investments by 10.8% in the first quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. now owns 43,464 shares of the asset manager's stock worth $3,411,000 after purchasing an additional 4,247 shares in the last quarter. Root Financial Partners LLC increased its stake in SEI Investments by 40.8% in the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager's stock valued at $38,000 after buying an additional 141 shares during the period. Impact Partnership Wealth LLC increased its stake in SEI Investments by 13.1% in the 1st quarter. Impact Partnership Wealth LLC now owns 7,011 shares of the asset manager's stock valued at $550,000 after buying an additional 810 shares during the period. SJS Investment Consulting Inc. lifted its position in SEI Investments by 250.5% in the 1st quarter. SJS Investment Consulting Inc. now owns 694 shares of the asset manager's stock worth $54,000 after buying an additional 496 shares in the last quarter. Finally, Inspire Investing LLC lifted its position in SEI Investments by 16.4% in the 1st quarter. Inspire Investing LLC now owns 43,655 shares of the asset manager's stock worth $3,426,000 after buying an additional 6,138 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Up 0.8%

Shares of NASDAQ:SEIC traded up $0.74 on Tuesday, reaching $95.73. The company had a trading volume of 191,240 shares, compared to its average volume of 797,829. The stock has a market capitalization of $11.51 billion, a P/E ratio of 16.35 and a beta of 0.97. The stock has a 50-day moving average price of $89.98 and a 200 day moving average price of $84.85. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $96.02. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.29 by $0.15. The business had revenue of $622.18 million for the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm's revenue was up 12.9% compared to the same quarter last year. During the same period last year, the business earned $1.17 EPS. On average, equities analysts expect that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

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

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the sale, the director directly owned 77,883 shares in the company, valued at $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip Mccabe sold 15,000 shares of the firm's stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $91.82, for a total value of $1,377,300.00. Following the completion of the sale, the insider directly owned 54,884 shares in the company, valued at approximately $5,039,448.88. This represents a 21.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 111,332 shares of company stock worth $9,908,883 in the last quarter. 4.80% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Piper Sandler restated an "overweight" rating and set a $105.00 price target (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods boosted their target price on SEI Investments from $95.00 to $107.00 and gave the company an "outperform" rating in a research note on Thursday, April 23rd. Morgan Stanley cut their price target on SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. Finally, Raymond James Financial boosted their price target on SEI Investments from $122.00 to $124.00 and gave the company an "outperform" rating in a research note on Monday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, SEI Investments has an average rating of "Moderate Buy" and an average target price of $110.00.

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.

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