Azora Capital LP Invests $17.75 Million in SEI Investments Company $SEIC

Azora Capital LP bought a new position in shares of SEI Investments Company (NASDAQ:SEIC) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 216,465 shares of the asset manager’s stock, valued at approximately $17,754,000. SEI Investments makes up about 1.1% of Azora Capital LP’s holdings, making the stock its 25th biggest holding. Azora Capital LP owned about 0.18% of SEI Investments as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Allworth Financial LP boosted its position in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 132 shares during the last quarter. Commerce Bank increased its stake in SEI Investments by 1.3% during the fourth quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock worth $825,000 after purchasing an additional 133 shares during the period. Focus Partners Advisor Solutions LLC increased its stake in SEI Investments by 1.2% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock worth $981,000 after purchasing an additional 141 shares during the period. Farther Finance Advisors LLC increased its stake in SEI Investments by 10.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,704 shares of the asset manager’s stock worth $140,000 after purchasing an additional 161 shares during the period. Finally, GAMMA Investing LLC increased its stake in SEI Investments by 2.3% during the fourth quarter. GAMMA Investing LLC now owns 7,260 shares of the asset manager’s stock worth $595,000 after purchasing an additional 164 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler restated an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Morgan Stanley cut their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Raymond James Financial restated an “outperform” rating and set a $82.00 target price on shares of SEI Investments in a research note on Wednesday, April 29th. Seven 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 currently has an average rating of “Moderate Buy” and an average price target of $103.00.

Insider Activity at SEI Investments

In other news, insider Sanjay Sharma sold 25,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 39,829 shares of the company’s stock, valued at approximately $3,589,389.48. This represents a 38.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 4,000 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 921 shares of the company’s stock, valued at $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 54,000 shares of company stock valued at $4,905,640. Company insiders own 4.80% of the company’s stock.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $91.01 on Thursday. The firm has a market capitalization of $10.95 billion, a P/E ratio of 15.53 and a beta of 0.97. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $93.96. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $87.56 and its two-hundred day moving average is $84.12.

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

SEI Investments Dividend Announcement

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