GAMMA Investing LLC Grows Stake in SEI Investments (NASDAQ:SEIC)

GAMMA Investing LLC grew its position in SEI Investments (NASDAQ:SEIC) by 20.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,496 shares of the asset manager’s stock after purchasing an additional 257 shares during the quarter. GAMMA Investing LLC’s holdings in SEI Investments were worth $108,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. VisionPoint Advisory Group LLC grew its holdings in SEI Investments by 67.1% in the third quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock worth $31,000 after purchasing an additional 206 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of SEI Investments by 4.3% during the fourth quarter. Metis Global Partners LLC now owns 5,584 shares of the asset manager’s stock valued at $355,000 after buying an additional 231 shares during the last quarter. Treasurer of the State of North Carolina grew its holdings in shares of SEI Investments by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 46,128 shares of the asset manager’s stock valued at $2,778,000 after buying an additional 235 shares during the last quarter. Portside Wealth Group LLC grew its holdings in shares of SEI Investments by 7.8% during the fourth quarter. Portside Wealth Group LLC now owns 3,823 shares of the asset manager’s stock valued at $243,000 after buying an additional 276 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of SEI Investments by 2.8% during the fourth quarter. SG Americas Securities LLC now owns 11,291 shares of the asset manager’s stock valued at $718,000 after buying an additional 306 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $72.14, for a total value of $1,396,846.82. Following the completion of the transaction, the chairman now owns 7,865,471 shares in the company, valued at $567,415,077.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 150,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the transaction, the chairman now owns 7,884,834 shares in the company, valued at approximately $557,852,005.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the company’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $72.14, for a total transaction of $1,396,846.82. Following the transaction, the chairman now owns 7,865,471 shares of the company’s stock, valued at approximately $567,415,077.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 287,363 shares of company stock worth $20,081,067. Company insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

NASDAQ SEIC opened at $65.80 on Friday. The company has a market capitalization of $8.65 billion, a PE ratio of 17.98, a P/E/G ratio of 1.33 and a beta of 1.02. The company has a fifty day moving average of $66.86 and a 200 day moving average of $66.35. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54.

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

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were given a $0.46 dividend. The ex-dividend date was Monday, June 10th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 2.80%. This is an increase from SEI Investments’s previous quarterly dividend of $0.40. SEI Investments’s dividend payout ratio is 25.14%.

Analysts Set New Price Targets

SEIC has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $74.00 price objective (up from $72.00) on shares of SEI Investments in a report on Thursday, April 25th. StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. Oppenheimer boosted their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, Piper Sandler decreased their target price on shares of SEI Investments from $72.00 to $69.00 and set a “neutral” rating for the company in a research report on Thursday, April 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $71.00.

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.