Gateway Wealth Partners LLC Makes New $559,000 Investment in SEI Investments Company $SEIC

Gateway Wealth Partners LLC acquired a new position in shares of SEI Investments Company (NASDAQ:SEIC) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,122 shares of the asset manager’s stock, valued at approximately $559,000.

Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE boosted its holdings in 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 buying an additional 133,057 shares in the last quarter. Geode Capital Management LLC increased its holdings in SEI Investments by 3.9% in the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock valued at $237,421,000 after buying an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in SEI Investments by 19.2% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock valued at $157,263,000 after buying an additional 308,988 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of SEI Investments by 1.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after acquiring an additional 20,054 shares during the period. Finally, First Trust Advisors LP raised its position in shares of SEI Investments by 1.2% in the first quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock worth $143,025,000 after acquiring an additional 21,731 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the sale, the chairman directly owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. The trade was a 0.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 15,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were 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 directly owned 921 shares of the company’s stock, valued at approximately $94,264.35. This represents a 94.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 112,332 shares of company stock valued at $10,467,693. 4.80% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on SEIC. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Morgan Stanley upped their price target on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. UBS Group reiterated a “buy” rating and set a $125.00 price target on shares of SEI Investments in a research report on Thursday, July 23rd. Raymond James Financial increased their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Finally, Piper Sandler boosted their price objective on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the stock. According to MarketBeat, SEI Investments has an average rating of “Buy” and a consensus target price of $122.60.

SEI Investments Stock Performance

SEIC opened at $103.04 on Friday. 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 company has a market cap of $12.37 billion, a price-to-earnings ratio of 18.17 and a beta of 0.97. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $104.47. The firm’s fifty day simple moving average is $92.65 and its two-hundred day simple moving average is $86.56.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.22. The business had revenue of $641.62 million during 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 company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.78 earnings per share. Equities analysts anticipate that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were issued 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 presently 18.34%.

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.