Ghe LLC Cuts Holdings in SEI Investments Company $SEIC

Ghe LLC trimmed its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 86.5% during the first quarter, HoldingsChannel reports. The institutional investor owned 949 shares of the asset manager’s stock after selling 6,105 shares during the quarter. Ghe LLC’s holdings in SEI Investments were worth $74,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Prana Capital Management LP grew its stake in SEI Investments by 60.8% during the 3rd quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock valued at $60,355,000 after purchasing an additional 269,023 shares in the last quarter. Polar Asset Management Partners Inc. raised its position in shares of SEI Investments by 312.1% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 49,043 shares of the asset manager’s stock valued at $4,161,000 after purchasing an additional 37,143 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in shares of SEI Investments during the 3rd quarter valued at approximately $4,811,000. Oxbow Advisors LLC purchased a new position in shares of SEI Investments during the 1st quarter valued at approximately $3,283,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of SEI Investments during the fourth quarter worth approximately $3,217,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

NASDAQ SEIC opened at $95.45 on Monday. The company has a 50-day moving average price of $90.34 and a two-hundred day moving average price of $85.18. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $96.60. The stock has a market cap of $11.48 billion, a price-to-earnings ratio of 16.29 and a beta of 0.97. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, beating 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 previous year, the business earned $1.17 earnings per share. The company’s revenue was up 12.9% on a year-over-year basis. Analysts forecast that SEI Investments Company will post 5.92 EPS for the current year.

SEI Investments Announces Dividend

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were given a $0.52 dividend. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s payout ratio is 17.75%.

Insider Transactions at SEI Investments

In other news, insider Sanjay Sharma sold 25,000 shares of SEI Investments stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the transaction, the insider directly owned 39,829 shares of the company’s stock, valued at $3,589,389.48. This trade represents a 38.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the transaction, the insider owned 921 shares in the company, valued at approximately $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 111,332 shares of company stock valued at $9,908,883 in the last 90 days. 4.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on SEIC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Morgan Stanley boosted their target price on shares of SEI Investments from $113.00 to $115.00 and gave the stock an “overweight” rating in a research report on Thursday. Keefe, Bruyette & Woods lifted their price target on SEI Investments from $107.00 to $113.00 and gave the stock an “outperform” rating in a research note on Friday. Raymond James Financial boosted their price objective on SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and an average target price of $114.40.

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.