HBK Sorce Advisory LLC Buys New Shares in SEI Investments Company $SEIC

HBK Sorce Advisory LLC bought a new position in SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 51,793 shares of the asset manager’s stock, valued at approximately $5,426,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC increased its holdings in shares of SEI Investments by 96.8% in the second quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 152 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of SEI Investments by 353.1% in the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock worth $37,000 after purchasing an additional 339 shares during the last quarter. Root Financial Partners LLC lifted its holdings in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in SEI Investments in the first quarter valued at approximately $43,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC stock opened at $106.38 on Monday. The stock has a 50 day moving average of $96.15 and a 200 day moving average of $88.06. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The stock has a market cap of $12.77 billion, a P/E ratio of 18.76 and a beta of 0.96. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $107.00.

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

SEI Investments Announces Dividend

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

Insider Transactions at SEI Investments

In related news, insider Philip Mccabe sold 24,957 shares of the firm’s stock in a transaction on Tuesday, August 4th. The shares were sold at an average price of $105.04, for a total transaction of $2,621,483.28. Following the sale, the insider owned 54,884 shares in the company, valued at approximately $5,765,015.36. This trade represents a 31.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 15,000 shares of SEI Investments stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the completion of the transaction, the insider directly owned 921 shares of the company’s stock, valued at $94,264.35. The trade was a 94.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 142,332 shares of company stock worth $13,745,813. Insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on SEIC. Raymond James Financial increased their price target on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a report on Monday, July 6th. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. UBS Group reiterated a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research note on Thursday, July 23rd. Finally, Piper Sandler raised their target price on shares of SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $122.60.

About SEI Investments

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.