HBK Sorce Advisory LLC Makes New Investment in SEI Investments Company $SEIC

HBK Sorce Advisory LLC acquired a new stake in SEI Investments Company (NASDAQ:SEIC) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 51,793 shares of the asset manager’s stock, valued at approximately $5,426,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commerce Bank raised its stake in shares of SEI Investments by 1.3% during the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock worth $825,000 after buying an additional 133 shares during the period. Root Financial Partners LLC grew 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 acquiring an additional 141 shares during the period. Focus Partners Advisor Solutions LLC grew its stake in SEI Investments by 1.2% in the 4th quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock valued at $981,000 after acquiring an additional 141 shares during the period. Glenmede Trust Co. NA increased its holdings in SEI Investments by 1.2% in the 1st quarter. Glenmede Trust Co. NA now owns 12,296 shares of the asset manager’s stock worth $965,000 after acquiring an additional 149 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its holdings in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after acquiring an additional 152 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Price Performance

NASDAQ SEIC opened at $106.38 on Monday. The business has a fifty day moving average price of $96.15 and a 200 day moving average price of $88.06. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The company has a market cap of $12.77 billion, a P/E ratio of 18.76 and a beta of 0.96. SEI Investments Company has a one year low of $75.08 and a one year high of $107.00.

SEI Investments (NASDAQ:SEIC) last announced its earnings results 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. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The company had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $636.35 million. During the same quarter in the previous year, the company posted $1.78 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. Research analysts anticipate that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Announces Dividend

The firm also recently declared 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 of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio (DPR) is currently 18.34%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SEIC. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Piper Sandler upped their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Zacks Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Finally, Raymond James Financial raised their price target on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a research note on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $122.60.

Insider Transactions at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the transaction, the insider directly owned 39,829 shares in the company, valued at approximately $3,956,214.57. The trade was a 33.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Philip Mccabe sold 24,957 shares of the company’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the sale, the insider directly owned 54,884 shares of the company’s stock, valued at approximately $5,765,015.36. This represents a 31.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 142,332 shares of company stock valued at $13,745,813. 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.