Portfolio Design Labs LLC Invests $811,000 in SEI Investments Company $SEIC

Portfolio Design Labs LLC bought a new position in SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 9,249 shares of the asset manager’s stock, valued at approximately $811,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SEIC. Elevation Wealth Partners LLC boosted its holdings in SEI Investments by 96.8% during the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after buying an additional 152 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after buying an additional 339 shares during the last quarter. Root Financial Partners LLC increased its holdings 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 buying an additional 141 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings 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 buying an additional 200 shares in the last quarter. Finally, Western Wealth Management LLC acquired a new stake in shares of SEI Investments during the 1st quarter valued at $43,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SEIC shares. Piper Sandler raised their price objective on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Raymond James Financial increased their price target on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research report on Monday, July 6th. Finally, Keefe, Bruyette & Woods lifted their price target on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $122.60.

SEI Investments Trading Up 0.2%

SEI Investments stock opened at $107.60 on Friday. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $109.11. 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 $12.91 billion, a P/E ratio of 18.98 and a beta of 0.96. The company’s fifty day simple moving average is $97.58 and its 200-day simple moving average is $88.63.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. The business had revenue of $641.62 million during 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%.SEI Investments’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company earned $1.78 earnings per share. As a group, sell-side analysts forecast that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is 18.34%.

Insider Activity at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $99.33, for a total value of $1,986,600.00. Following the transaction, the insider owned 39,829 shares in the company, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Andrew Warner sold 15,000 shares of the stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $102.35, for a total value of $1,535,250.00. Following the completion of the transaction, the insider owned 921 shares in the company, valued at $94,264.35. This represents a 94.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 142,332 shares of company stock worth $13,745,813. 4.80% of the stock is currently owned by corporate insiders.

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.