Mediolanum International Funds Ltd Boosts Stock Position in SEI Investments Company (NASDAQ:SEIC)

Mediolanum International Funds Ltd lifted its stake in SEI Investments Company (NASDAQ:SEIC) by 2.3% in the first quarter, Holdings Channel.com reports. The fund owned 31,853 shares of the asset manager’s stock after purchasing an additional 729 shares during the period. Mediolanum International Funds Ltd’s holdings in SEI Investments were worth $2,456,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in SEI Investments by 59.9% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager’s stock valued at $974,000 after buying an additional 4,701 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in SEI Investments during the first quarter valued at approximately $206,000. Wealth Enhancement Advisory Services LLC increased its holdings in SEI Investments by 41.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager’s stock worth $1,654,000 after acquiring an additional 6,261 shares during the period. Farther Finance Advisors LLC lifted its stake in SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager’s stock worth $103,000 after purchasing an additional 681 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in SEI Investments by 1.5% in the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager’s stock valued at $102,897,000 after purchasing an additional 19,150 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Up 0.2%

Shares of SEIC stock opened at $89.99 on Monday. The business has a 50-day moving average price of $87.68 and a two-hundred day moving average price of $81.84. SEI Investments Company has a 12-month low of $62.38 and a 12-month high of $93.96. The firm has a market cap of $11.20 billion, a P/E ratio of 16.88, a price-to-earnings-growth ratio of 1.46 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.60. The company had revenue of $559.60 million for the quarter, compared to analysts’ expectations of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. SEI Investments’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.05 EPS. As a group, research analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.18%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments’s payout ratio is presently 18.39%.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the transaction, the chairman owned 6,937,582 shares of the company’s stock, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ryan Hicke sold 21,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares of the company’s stock, valued at $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock worth $19,638,659 over the last 90 days. Company insiders own 14.30% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SEIC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a report on Thursday. Morgan Stanley restated an “overweight” rating and issued a $100.00 target price (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Piper Sandler lowered their price target on SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday. Oppenheimer boosted their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Finally, William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

SEI Investments Company Profile

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.