Sheets Smith Wealth Management Boosts Holdings in SEI Investments (NASDAQ:SEIC)

Sheets Smith Wealth Management increased its position in SEI Investments (NASDAQ:SEIC) by 36.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 80,251 shares of the asset manager’s stock after acquiring an additional 21,351 shares during the quarter. SEI Investments comprises about 0.9% of Sheets Smith Wealth Management’s holdings, making the stock its 25th biggest holding. Sheets Smith Wealth Management owned 0.05% of SEI Investments worth $4,193,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its stake in shares of SEI Investments by 336.5% during the first quarter. Rockefeller Capital Management L.P. now owns 1,724 shares of the asset manager’s stock worth $90,000 after acquiring an additional 1,329 shares in the last quarter. Cigna Investments Inc. New raised its stake in shares of SEI Investments by 130.7% during the first quarter. Cigna Investments Inc. New now owns 26,904 shares of the asset manager’s stock worth $1,406,000 after acquiring an additional 15,244 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of SEI Investments by 26.0% during the first quarter. Envestnet Asset Management Inc. now owns 93,163 shares of the asset manager’s stock worth $4,868,000 after acquiring an additional 19,203 shares in the last quarter. Twin Tree Management LP purchased a new position in shares of SEI Investments during the first quarter worth approximately $1,182,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of SEI Investments by 12.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 21,010 shares of the asset manager’s stock worth $1,098,000 after acquiring an additional 2,400 shares in the last quarter. Institutional investors own 68.75% of the company’s stock.

Several research analysts have commented on the stock. Zacks Investment Research raised shares of SEI Investments from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a research note on Friday, April 12th. William Blair reissued a “market perform” rating on shares of SEI Investments in a research note on Monday, April 22nd. Keefe, Bruyette & Woods downgraded shares of SEI Investments from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $56.00 to $64.00 in a research note on Sunday, April 14th. ValuEngine raised shares of SEI Investments from a “sell” rating to a “hold” rating in a research note on Tuesday, June 11th. Finally, BidaskClub raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Tuesday, June 11th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $66.20.

In related news, Director Sarah Blumenstein sold 5,000 shares of SEI Investments stock in a transaction on Friday, May 10th. The shares were sold at an average price of $51.96, for a total value of $259,800.00. Following the sale, the director now owns 10,681 shares in the company, valued at $554,984.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 22.60% of the company’s stock.

Shares of NASDAQ SEIC traded up $0.74 during mid-day trading on Friday, hitting $56.10. The stock had a trading volume of 525,063 shares, compared to its average volume of 708,139. The company has a current ratio of 5.86, a quick ratio of 5.68 and a debt-to-equity ratio of 0.03. SEI Investments has a 1 year low of $42.27 and a 1 year high of $64.90. The business’s 50 day moving average price is $52.86. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 17.87, a P/E/G ratio of 1.43 and a beta of 1.24.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 24th. The asset manager reported $0.73 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.03). The firm had revenue of $400.82 million during the quarter, compared to analysts’ expectations of $404.82 million. SEI Investments had a return on equity of 29.76% and a net margin of 29.64%. The firm’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 earnings per share. On average, sell-side analysts predict that SEI Investments will post 3.18 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Wednesday, June 12th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Tuesday, June 11th. SEI Investments’s dividend payout ratio (DPR) is currently 21.02%.

SEI Investments Profile

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.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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