JLB & Associates Inc. Invests $22.94 Million in SEI Investments Company $SEIC

JLB & Associates Inc. bought a new stake in SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 261,576 shares of the asset manager’s stock, valued at approximately $22,943,000. SEI Investments makes up about 3.1% of JLB & Associates Inc.’s holdings, making the stock its 9th biggest holding. JLB & Associates Inc. owned about 0.22% of SEI Investments as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of SEIC. Elevation Wealth Partners LLC boosted its holdings in SEI Investments by 96.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 309 shares of the asset manager’s stock worth $27,000 after acquiring an additional 152 shares during the period. CIBC Private Wealth Group LLC raised its stake in shares of 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 purchasing an additional 339 shares during the period. Root Financial Partners LLC raised its stake in shares of SEI Investments by 40.8% during the first quarter. Root Financial Partners LLC now owns 487 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 141 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new position in shares of SEI Investments in the first quarter valued at $43,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SEIC has been the subject of a number of recent analyst reports. Piper Sandler raised their price target 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. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the company an “outperform” rating in a research report on Thursday, July 23rd. Morgan Stanley raised their target price on SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research note 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 report on Thursday, July 23rd. Finally, Raymond James Financial boosted 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. One investment analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $122.60.

SEI Investments Stock Up 1.4%

Shares of NASDAQ:SEIC opened at $106.92 on Wednesday. The firm has a market cap of $12.83 billion, a PE ratio of 18.86 and a beta of 0.96. The company has a fifty day simple moving average of $96.82 and a 200 day simple moving average of $88.35. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $107.46.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, July 22nd. The asset manager reported $1.66 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 the consensus estimate of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.78 EPS. On average, equities research analysts anticipate that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a dividend of $0.52 per share. The ex-dividend date was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s payout ratio is presently 18.34%.

Insider Activity at SEI Investments

In other news, insider Philip Mccabe sold 5,043 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $105.50, for a total value of $532,036.50. Following the transaction, the insider directly owned 54,884 shares in the company, valued at approximately $5,790,262. This trade represents a 8.42% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the transaction, the insider directly owned 39,829 shares of the company’s stock, valued at $3,956,214.57. This trade represents a 33.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 142,332 shares of company stock valued at $13,745,813 in the last ninety days. 4.80% of the stock is owned by insiders.

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.