Foyston Gordon & Payne Inc Makes New $13.94 Million Investment in SEI Investments Company $SEIC

Foyston Gordon & Payne Inc bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 157,958 shares of the asset manager’s stock, valued at approximately $13,940,000. SEI Investments makes up about 3.0% of Foyston Gordon & Payne Inc’s investment portfolio, making the stock its 9th largest holding.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Commerce Bank purchased a new stake in SEI Investments in the second quarter worth about $935,000. Northwestern Mutual Wealth Management Co. purchased a new position in shares of SEI Investments during the 2nd quarter worth approximately $168,000. Quantbot Technologies LP bought a new position in shares of SEI Investments in the 2nd quarter worth approximately $1,070,000. EP Wealth Advisors LLC bought a new position in shares of SEI Investments in the 2nd quarter worth approximately $249,000. Finally, Bard Associates Inc. purchased a new position in shares of SEI Investments in the 2nd quarter valued at approximately $106,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Up 1.8%

NASDAQ:SEIC opened at $109.53 on Friday. The firm has a market cap of $13.15 billion, a P/E ratio of 19.32 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. SEI Investments Company has a fifty-two week low of $75.08 and a fifty-two week high of $109.75. The firm has a 50-day simple moving average of $97.99 and a two-hundred day simple moving average of $88.77.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm had revenue of $641.62 million for the quarter, compared to the consensus estimate of $636.35 million. During the same quarter in the prior year, the firm posted $1.78 earnings per share. The business’s revenue was up 14.7% on a year-over-year basis. Analysts predict that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

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

Insider Buying and Selling at SEI Investments

In other news, Director Kathryn Mccarthy sold 10,000 shares of the company’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the transaction, the director directly owned 77,883 shares of the company’s stock, valued at $8,063,226.99. This represents a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carl Guarino sold 10,000 shares of the stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total value of $1,031,900.00. Following the sale, the director directly owned 18,308 shares in the company, valued at $1,889,202.52. This trade represents a 35.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 142,332 shares of company stock worth $13,745,813. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods upped their price target on 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 reissued a “buy” rating and set a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. Morgan Stanley upped their target price on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Finally, Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments currently has an average rating of “Buy” and an average price target of $122.60.

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.