Interval Partners LP Lowers Stock Holdings in SEI Investments Company $SEIC

Interval Partners LP trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC) by 9.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 184,896 shares of the asset manager’s stock after selling 19,018 shares during the quarter. Interval Partners LP owned 0.15% of SEI Investments worth $15,165,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SEIC. Vanguard Group Inc. increased its position 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 acquiring an additional 30,970 shares during the period. Prana Capital Management LP increased its position in shares of SEI Investments by 60.8% during the third quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock worth $60,355,000 after acquiring an additional 269,023 shares during the period. Mill Creek Capital Advisors LLC purchased a new stake in shares of SEI Investments during the third quarter worth $4,240,000. Polar Asset Management Partners Inc. increased its position in shares of SEI Investments by 312.1% during the third quarter. Polar Asset Management Partners Inc. now owns 49,043 shares of the asset manager’s stock worth $4,161,000 after acquiring an additional 37,143 shares during the period. Finally, Intech Investment Management LLC increased its position in shares of SEI Investments by 519.6% during the third quarter. Intech Investment Management LLC now owns 29,927 shares of the asset manager’s stock worth $2,539,000 after acquiring an additional 25,097 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Price Performance

Shares of NASDAQ SEIC opened at $91.01 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $93.96. The firm has a market capitalization of $10.95 billion, a PE ratio of 15.53 and a beta of 0.97. The stock’s 50-day simple moving average is $87.56 and its 200-day simple moving average is $84.12.

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

SEI Investments Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the sale, the insider owned 921 shares of the company’s stock, valued at approximately $83,958.36. This trade represents a 81.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the sale, the director directly owned 77,883 shares in the company, valued at $7,092,804.81. This trade represents a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 54,000 shares of company stock worth $4,905,640 over the last 90 days. Insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

SEIC has been the subject of several recent research reports. Morgan Stanley decreased their price objective on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Raymond James Financial reiterated an “outperform” rating and issued a $82.00 price objective on shares of SEI Investments in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Piper Sandler reiterated an “overweight” rating and issued a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Finally, Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, SEI Investments presently has an average rating of “Moderate Buy” and a consensus target price of $103.00.

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.