7,122 Shares in SEI Investments Company $SEIC Purchased by Gateway Wealth Partners LLC

Gateway Wealth Partners LLC acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,122 shares of the asset manager’s stock, valued at approximately $559,000.

A number of other hedge funds also recently bought and sold shares of SEIC. CIBC Private Wealth Group LLC lifted its stake in SEI Investments by 353.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 339 shares in the last quarter. Root Financial Partners LLC grew its position in shares of SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares in the last quarter. Geneos Wealth Management Inc. grew its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares in the last quarter. Rothschild Investment LLC increased its holdings in shares of SEI Investments by 266.9% in the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 411 shares during the last quarter. Finally, SJS Investment Consulting Inc. increased its holdings in shares of SEI Investments by 250.5% in the first quarter. SJS Investment Consulting Inc. now owns 694 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 496 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SEIC. Raymond James Financial lifted their price objective on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Zacks Research upgraded SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Piper Sandler lifted their price target on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley boosted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $122.60.

SEI Investments Price Performance

SEIC stock opened at $103.04 on Friday. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $104.47. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $12.37 billion, a price-to-earnings ratio of 18.17 and a beta of 0.97. The business has a fifty day moving average of $92.65 and a two-hundred day moving average of $86.56.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, beating the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.78 EPS. As a group, research analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were issued a $0.52 dividend. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s payout ratio is 18.34%.

Insider Buying and Selling

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the completion of the transaction, the director owned 18,308 shares of the company’s stock, valued at $1,889,202.52. This trade represents a 35.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Mark Andrew Warner sold 15,000 shares of SEI Investments stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the sale, the insider owned 921 shares of the company’s stock, valued at approximately $94,264.35. This represents a 94.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 112,332 shares of company stock valued at $10,467,693 over the last three months. Company insiders own 4.80% of the company’s stock.

About SEI Investments

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.