Twinbeech Capital LP Invests $505,000 in SEI Investments (NASDAQ:SEIC)

Twinbeech Capital LP bought a new position in shares of SEI Investments (NASDAQ:SEIC) during the first quarter, Holdings Channel.com reports. The fund bought 8,283 shares of the asset manager’s stock, valued at approximately $505,000.

Other large investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in SEI Investments in the 4th quarter valued at $72,825,000. Royce & Associates LP raised its position in SEI Investments by 185.5% in the 1st quarter. Royce & Associates LP now owns 1,260,338 shares of the asset manager’s stock valued at $76,792,000 after buying an additional 818,919 shares during the last quarter. Strs Ohio raised its position in SEI Investments by 33,888.5% in the 1st quarter. Strs Ohio now owns 469,381 shares of the asset manager’s stock valued at $28,599,000 after buying an additional 468,000 shares during the last quarter. Schroder Investment Management Group grew its stake in SEI Investments by 50.5% in the 4th quarter. Schroder Investment Management Group now owns 1,069,478 shares of the asset manager’s stock valued at $61,463,000 after purchasing an additional 358,950 shares during the period. Finally, Prana Capital Management LP grew its stake in SEI Investments by 599.5% in the 1st quarter. Prana Capital Management LP now owns 262,879 shares of the asset manager’s stock valued at $16,017,000 after purchasing an additional 225,297 shares during the period. 67.78% of the stock is currently owned by institutional investors.

In other SEI Investments news, Director William Doran sold 10,000 shares of the firm’s stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $63.27, for a total value of $632,700.00. Following the sale, the director now owns 659,915 shares of the company’s stock, valued at approximately $41,752,822.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 23.86% of the company’s stock.

A number of research analysts have issued reports on the company. Raymond James restated a “hold” rating on shares of SEI Investments in a research note on Thursday, July 8th. Oppenheimer upped their price objective on SEI Investments from $65.00 to $71.00 and gave the company an “outperform” rating in a research note on Thursday, April 22nd. Finally, Morgan Stanley reduced their price objective on SEI Investments from $75.00 to $74.00 and set an “equal weight” rating for the company in a research note on Thursday, April 22nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $68.38.

Shares of NASDAQ SEIC opened at $62.79 on Thursday. SEI Investments has a 52 week low of $48.70 and a 52 week high of $64.78. The business has a 50-day moving average of $62.44. The company has a market cap of $8.97 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.38 and a beta of 1.08.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 21st. The asset manager reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. SEI Investments had a return on equity of 26.69% and a net margin of 27.10%. The business had revenue of $475.65 million during the quarter, compared to the consensus estimate of $464.69 million. During the same quarter last year, the company earned $0.68 EPS. The firm’s revenue was up 18.7% compared to the same quarter last year. Sell-side analysts predict that SEI Investments will post 3.73 EPS for the current fiscal year.

SEI Investments announced that its board has authorized a stock repurchase plan on Wednesday, June 2nd that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the asset manager to reacquire up to 2.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 22nd. Shareholders of record on Monday, June 14th were paid a $0.37 dividend. The ex-dividend date was Friday, June 11th. This represents a $1.48 annualized dividend and a yield of 2.36%. This is an increase from SEI Investments’s previous quarterly dividend of $0.35. SEI Investments’s dividend payout ratio (DPR) is currently 24.67%.

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.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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