Azora Capital LP Takes Position in SEI Investments Company $SEIC

Azora Capital LP acquired a new stake in SEI Investments Company (NASDAQ:SEIC) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 216,465 shares of the asset manager’s stock, valued at approximately $17,754,000. SEI Investments comprises 1.1% of Azora Capital LP’s portfolio, making the stock its 25th biggest holding.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of SEI Investments by 0.3% during the third quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after purchasing an additional 30,970 shares during the period. Bank of America Corp DE lifted its holdings in shares of SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after purchasing an additional 133,057 shares during the period. Geode Capital Management LLC lifted its holdings in shares of SEI Investments by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after purchasing an additional 109,974 shares during the period. Lord Abbett & CO. LLC lifted its holdings in shares of SEI Investments by 19.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock worth $157,263,000 after purchasing an additional 308,988 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of SEI Investments by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock worth $158,084,000 after purchasing an additional 31,953 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SEI Investments

In other news, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the transaction, the insider owned 39,829 shares in the company, valued at $3,589,389.48. This trade represents a 38.56% 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 4,000 shares of the firm’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total value of $364,640.00. Following the completion of the transaction, the insider owned 921 shares of the company’s stock, valued at approximately $83,958.36. This represents a 81.28% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 54,000 shares of company stock worth $4,905,640. Corporate insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SEIC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Keefe, Bruyette & Woods increased their price target on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley decreased their price target on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 price target on shares of SEI Investments in a report on Wednesday, April 29th. Finally, Piper Sandler reaffirmed 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. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $103.00.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $91.01 on Thursday. 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 Company has a fifty-two week low of $75.08 and a fifty-two week high of $93.96. The stock has a market cap of $10.95 billion, a PE ratio of 15.53 and a beta of 0.97. The firm’s fifty day simple moving average is $87.56 and its 200-day simple moving average is $84.12.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same period in the prior year, the company posted $1.17 EPS. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. Analysts expect that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The business 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 is 17.75%.

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.