Diversify Wealth Management LLC Invests $1.06 Million in SEI Investments Company $SEIC

Diversify Wealth Management LLC purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 13,551 shares of the asset manager’s stock, valued at approximately $1,063,000.

Several other institutional investors also recently modified their holdings of the business. Allworth Financial LP raised its position in SEI Investments by 44.0% in the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager’s stock worth $37,000 after buying an additional 132 shares during the last quarter. Commerce Bank boosted its holdings in shares of SEI Investments by 1.3% during the 4th quarter. Commerce Bank now owns 10,060 shares of the asset manager’s stock valued at $825,000 after acquiring an additional 133 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of SEI Investments by 40.8% during the 1st quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after acquiring an additional 141 shares during the last quarter. Focus Partners Advisor Solutions LLC grew its stake in shares of SEI Investments by 1.2% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 11,957 shares of the asset manager’s stock worth $981,000 after acquiring an additional 141 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in shares of SEI Investments by 10.4% in the fourth quarter. Farther Finance Advisors LLC now owns 1,704 shares of the asset manager’s stock worth $140,000 after acquiring an additional 161 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SEI Investments

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 value of $364,640.00. Following the transaction, the insider owned 921 shares of the company’s stock, valued at $83,958.36. This trade represents a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sanjay Sharma sold 25,000 shares of SEI Investments stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the transaction, the insider directly owned 39,829 shares in the company, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 111,332 shares of company stock valued at $9,908,883 in the last ninety days. Corporate insiders own 4.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of SEI Investments from $105.00 to $114.00 and gave the company an “overweight” rating in a research report on Monday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods increased their price target on SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a report on Friday, July 10th. Morgan Stanley increased their price target on SEI Investments from $113.00 to $115.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Finally, Raymond James Financial raised their price target on SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and a consensus price target of $116.20.

SEI Investments Stock Up 3.5%

Shares of SEIC stock opened at $98.17 on Thursday. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $98.58. The stock has a market cap of $11.81 billion, a P/E ratio of 16.75 and a beta of 0.97. The company has a 50 day simple moving average of $90.68 and a two-hundred day simple moving average of $85.39.

SEI Investments (NASDAQ:SEIC) last issued its quarterly 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 net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same quarter last year, the company posted $1.17 EPS. The company’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts expect that SEI Investments Company will post 5.98 earnings per share for the current year.

SEI Investments Announces Dividend

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

SEI Investments 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.