SEI Investments Company $SEIC Shares Sold by SummitTX Capital L.P.

SummitTX Capital L.P. reduced its stake in SEI Investments Company (NASDAQ:SEIC) by 68.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,162 shares of the asset manager’s stock after selling 18,068 shares during the quarter. SummitTX Capital L.P.’s holdings in SEI Investments were worth $640,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Oxbow Advisors LLC bought a new stake in SEI Investments in the first quarter worth $3,283,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in SEI Investments during the fourth quarter valued at about $3,217,000. Third View Private Wealth LLC acquired a new stake in shares of SEI Investments in the fourth quarter worth about $2,807,000. King Luther Capital Management Corp lifted its position in shares of SEI Investments by 10.2% in the fourth quarter. King Luther Capital Management Corp now owns 137,439 shares of the asset manager’s stock worth $11,273,000 after buying an additional 12,713 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of SEI Investments during the 1st quarter worth about $3,625,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Mark Andrew Warner sold 15,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the completion of the transaction, the insider directly owned 921 shares in the company, valued at $94,264.35. This represents a 94.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the sale, the insider directly owned 39,829 shares of the company’s stock, valued at approximately $3,956,214.57. This trade 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 a total of 112,332 shares of company stock valued at $10,467,693 in the last 90 days. 4.80% of the stock is currently owned by corporate insiders.

SEI Investments Trading Up 0.2%

Shares of NASDAQ:SEIC opened at $103.04 on Friday. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $104.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.96 and a current ratio of 5.06. The company has a market cap of $12.37 billion, a P/E ratio of 18.17 and a beta of 0.97. The stock’s 50-day moving average is $92.65 and its 200-day moving average is $86.56.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.22. The firm had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.78 EPS. Equities research analysts predict that SEI Investments Company will post 6.2 earnings per share for the current year.

SEI Investments Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages have recently commented on SEIC. Piper Sandler increased their price objective on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price target on SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Morgan Stanley lifted their price target on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and six have issued a Buy rating to the company. According to data from MarketBeat, SEI Investments presently has an average rating of “Buy” and an average target price of $122.60.

About SEI Investments

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.