Taylor Hoffman Capital Management LLC Has $5.16 Million Position in SEI Investments Company (NASDAQ:SEIC)

Taylor Hoffman Capital Management LLC increased its stake in SEI Investments Company (NASDAQ:SEIC) by 2.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 66,709 shares of the asset manager’s stock after purchasing an additional 1,524 shares during the quarter. SEI Investments makes up 1.9% of Taylor Hoffman Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Taylor Hoffman Capital Management LLC owned approximately 0.05% of SEI Investments worth $5,155,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in SEI Investments by 59.9% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager’s stock worth $974,000 after purchasing an additional 4,701 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in SEI Investments in the 1st quarter worth approximately $206,000. Wealth Enhancement Advisory Services LLC increased its position in SEI Investments by 41.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager’s stock worth $1,654,000 after buying an additional 6,261 shares during the period. Farther Finance Advisors LLC increased its position 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 buying an additional 681 shares during the period. Finally, Boston Trust Walden Corp increased its position 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 worth $102,897,000 after buying an additional 19,150 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total value of $4,213,500.00. Following the sale, the executive vice president directly owned 13,500 shares in the company, valued at $1,137,645. This represents a 78.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Ryan Hicke sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the sale, the chief executive officer owned 171,260 shares in the company, valued at $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 237,126 shares of company stock valued at $20,082,409. 14.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have commented on SEIC shares. Piper Sandler dropped their price target on SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research report on Thursday, July 24th. William Blair reaffirmed a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $98.00 price target (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Finally, Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and an average price target of $102.00.

SEI Investments Trading Down 0.1%

SEIC opened at $87.44 on Tuesday. The stock has a market cap of $10.81 billion, a PE ratio of 16.41, a P/E/G ratio of 1.39 and a beta of 0.95. SEI Investments Company has a 1 year low of $64.19 and a 1 year high of $93.96. The stock’s 50 day simple moving average is $88.35 and its 200-day simple moving average is $82.25.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.60. The business 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 quarterly revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.05 earnings per share. Equities analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.2%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments’s dividend payout ratio (DPR) is currently 18.39%.

About SEI Investments

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.