Healthcare of Ontario Pension Plan Trust Fund Invests $6.99 Million in SEI Investments (NASDAQ:SEIC)

Healthcare of Ontario Pension Plan Trust Fund acquired a new position in SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 110,000 shares of the asset manager’s stock, valued at approximately $6,990,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of SEI Investments at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of SEI Investments in the 4th quarter valued at about $32,161,000. Invesco Ltd. lifted its stake in shares of SEI Investments by 73.1% in the 3rd quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock valued at $67,798,000 after acquiring an additional 475,226 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of SEI Investments by 299.3% in the 3rd quarter. Acadian Asset Management LLC now owns 477,981 shares of the asset manager’s stock valued at $28,778,000 after acquiring an additional 358,282 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of SEI Investments by 69.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 381,037 shares of the asset manager’s stock valued at $22,950,000 after acquiring an additional 155,991 shares during the last quarter. Finally, FMR LLC lifted its stake in shares of SEI Investments by 43.8% in the 3rd quarter. FMR LLC now owns 360,732 shares of the asset manager’s stock valued at $21,727,000 after acquiring an additional 109,962 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $64.72 on Tuesday. SEI Investments has a 52-week low of $52.19 and a 52-week high of $72.54. The firm has a market capitalization of $8.50 billion, a P/E ratio of 17.68, a P/E/G ratio of 1.30 and a beta of 1.02. The stock has a 50 day moving average price of $67.12 and a 200-day moving average price of $66.22.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.01. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The firm had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. During the same quarter in the prior year, the company earned $0.79 EPS. The business’s revenue was up 9.1% compared to the same quarter last year. On average, equities analysts forecast that SEI Investments will post 4.14 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Monday, June 10th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.84 annualized dividend and a dividend yield of 2.84%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s dividend payout ratio is currently 25.14%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler lowered their target price on SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research note on Thursday, April 25th. Oppenheimer upped their price target on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $74.00 price target (up previously from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. Finally, StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.00.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $68.09, for a total value of $3,268,320.00. Following the sale, the chairman now owns 7,677,471 shares in the company, valued at approximately $522,759,000.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $68.09, for a total value of $3,268,320.00. Following the sale, the chairman now owns 7,677,471 shares in the company, valued at approximately $522,759,000.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the sale, the chairman now owns 7,865,471 shares in the company, valued at approximately $567,415,077.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 287,363 shares of company stock valued at $20,081,067. Corporate insiders own 14.30% of the company’s stock.

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.