Bank of Nova Scotia Takes $2.05 Million Position in SEI Investments Company $SEIC

Bank of Nova Scotia bought a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,171 shares of the asset manager’s stock, valued at approximately $2,054,000.

A number of other institutional investors have also bought and sold shares of SEIC. Norges Bank purchased a new position in shares of SEI Investments in the fourth quarter valued at about $53,548,000. Clark Capital Management Group Inc. raised its stake in SEI Investments by 2,333.2% during the 4th quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock valued at $52,973,000 after purchasing an additional 619,315 shares during the period. PFA Pension Forsikringsaktieselskab purchased a new position in SEI Investments in the 4th quarter worth approximately $43,186,000. Qube Research & Technologies Ltd boosted its stake in SEI Investments by 82.5% in the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock worth $65,061,000 after purchasing an additional 346,696 shares during the period. Finally, Caisse de depot et placement du Quebec grew its holdings in SEI Investments by 31.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after buying an additional 317,703 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Down 0.3%

Shares of SEIC opened at $102.88 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 18.14 and a beta of 0.97. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $104.47. The business’s 50 day simple moving average is $92.38 and its 200-day simple moving average is $86.45.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $636.35 million. During the same period last year, the firm posted $1.78 earnings per share. SEI Investments’s revenue for the quarter was up 14.7% compared to the same quarter last year. As a group, equities analysts expect that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SEIC shares. Morgan Stanley boosted their target price on shares of SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. UBS Group reaffirmed a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Zacks Research upgraded shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 23rd. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $114.00 to $120.00 and gave the company 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 given a Buy rating to the stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of “Buy” and a consensus price target of $122.60.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $87.25, for a total value of $4,362,500.00. Following the completion of the sale, the chairman owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction dated Friday, July 24th. The stock was sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the transaction, the insider directly owned 39,829 shares of the company’s stock, valued at approximately $3,956,214.57. This represents a 33.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 87,332 shares of company stock worth $7,900,543 over the last quarter. Insiders own 4.80% of the company’s stock.

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.