SEI Investments Company $SEIC Stock Position Decreased by Royal Bank of Canada

Royal Bank of Canada trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC) by 31.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 416,650 shares of the asset manager’s stock after selling 194,524 shares during the period. Royal Bank of Canada’s holdings in SEI Investments were worth $32,694,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC raised its position in SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager’s stock valued at $37,000 after acquiring an additional 339 shares in the last quarter. Root Financial Partners LLC grew its position in SEI Investments by 40.8% in the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock worth $38,000 after acquiring an additional 141 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of SEI Investments by 60.2% during the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares during the last quarter. Rothschild Investment LLC increased its stake in shares of SEI Investments by 266.9% during the 4th quarter. Rothschild Investment LLC now owns 565 shares of the asset manager’s stock worth $46,000 after purchasing an additional 411 shares during the last quarter. Finally, SJS Investment Consulting Inc. raised its holdings in shares of SEI Investments by 250.5% during the 1st quarter. SJS Investment Consulting Inc. now owns 694 shares of the asset manager’s stock valued at $54,000 after purchasing an additional 496 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SEIC shares. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Morgan Stanley boosted their price target on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Piper Sandler upped their price target on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a research note 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 company’s stock. According to data from MarketBeat, SEI Investments currently has an average rating of “Buy” and an average target price of $122.60.

SEI Investments Price Performance

NASDAQ SEIC opened at $104.19 on Tuesday. SEI Investments Company has a twelve month low of $75.08 and a twelve month 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 stock has a market capitalization of $12.50 billion, a PE ratio of 18.38 and a beta of 0.96. The stock has a 50-day simple moving average of $93.18 and a 200 day simple moving average of $86.82.

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. Research analysts anticipate that SEI Investments Company will post 6.2 EPS for the current year.

SEI Investments Dividend Announcement

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%.

Insider Activity at SEI Investments

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. In the last three months, insiders have sold 102,332 shares of company stock worth $9,556,993. Insiders own 4.80% of the company’s stock.

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.