Lazard Asset Management LLC Has $2.98 Million Stock Holdings in SEI Investments Company $SEIC

Lazard Asset Management LLC raised its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 85.2% during the first quarter, HoldingsChannel.com reports. The firm owned 38,037 shares of the asset manager’s stock after acquiring an additional 17,504 shares during the quarter. Lazard Asset Management LLC’s holdings in SEI Investments were worth $2,985,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Bison Wealth LLC acquired a new stake in SEI Investments during the 4th quarter worth $207,000. Baird Financial Group Inc. acquired a new position in shares of SEI Investments in the 1st quarter valued at $201,000. Geneos Wealth Management Inc. boosted its position in shares of SEI Investments by 60.2% in 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. M&T Bank Corp boosted its position in shares of SEI Investments by 11.9% in the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock worth $289,000 after purchasing an additional 341 shares during the last quarter. Finally, CW Advisors LLC acquired a new stake in shares of SEI Investments during the second quarter worth $280,000. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SEIC shares. UBS Group reissued a “buy” rating and issued a $125.00 target price on shares of SEI Investments in a research note on Thursday, July 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Friday, July 17th. Piper Sandler upped their price target on SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, July 23rd. Morgan Stanley increased 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. Finally, Raymond James Financial lifted their price objective on shares of 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 assigned a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $122.60.

SEI Investments Stock Performance

Shares of SEI Investments stock opened at $102.98 on Friday. The company has a market capitalization of $12.36 billion, a PE ratio of 18.16 and a beta of 0.97. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $104.47. The company has a current ratio of 5.06, a quick ratio of 4.96 and a debt-to-equity ratio of 0.06. The stock’s fifty day simple moving average is $92.90 and its 200 day simple moving average is $86.68.

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, topping the consensus estimate of $1.44 by $0.22. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The firm had revenue of $641.62 million for the quarter, compared to analyst estimates of $636.35 million. During the same period in the previous year, the company posted $1.78 earnings per share. The company’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, research analysts predict 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 issued a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s payout ratio is 18.34%.

Insiders Place Their Bets

In other SEI Investments news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the transaction, the director owned 77,883 shares of the company’s stock, valued at approximately $7,092,804.81. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider owned 39,829 shares of the company’s stock, valued at $3,956,214.57. This trade represents a 33.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 112,332 shares of company stock worth $10,467,693 in the last three months. 4.80% of the stock is owned by corporate insiders.

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.