Simplicity Wealth LLC Purchases New Holdings in SEI Investments Company $SEIC

Simplicity Wealth LLC acquired a new stake in shares of SEI Investments Company (NASDAQ:SEIC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,410 shares of the asset manager’s stock, valued at approximately $562,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. HBK Sorce Advisory LLC acquired a new position in shares of SEI Investments in the second quarter valued at approximately $5,426,000. Northstar Financial Companies Inc. acquired a new stake in shares of SEI Investments during the second quarter worth $327,000. Global Retirement Partners LLC acquired a new stake in shares of SEI Investments during the second quarter worth $352,000. Bank of New York Mellon Corp purchased a new position in SEI Investments in the 2nd quarter valued at $78,430,000. Finally, Focus Partners Advisor Solutions LLC acquired a new position in SEI Investments in the 2nd quarter valued at $670,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Price Performance

SEI Investments stock opened at $105.47 on Tuesday. SEI Investments Company has a one year low of $75.08 and a one year high of $107.00. 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 business has a fifty day moving average of $96.49 and a two-hundred day moving average of $88.21. The company has a market cap of $12.66 billion, a P/E ratio of 18.60 and a beta of 0.96.

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

SEI Investments Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SEIC. UBS Group restated a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Piper Sandler boosted their price target on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Morgan Stanley increased their price target on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $122.60.

Insider Activity at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the sale, the director owned 77,883 shares of the company’s stock, valued at $8,063,226.99. The trade was a 11.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Andrew Warner sold 15,000 shares of the company’s 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 sale, the insider owned 921 shares in the company, valued at approximately $94,264.35. This represents a 94.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 142,332 shares of company stock valued at $13,745,813 in the last ninety days. Company insiders own 4.80% of the company’s stock.

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.