Clark Capital Management Group Inc. Buys 619,315 Shares of SEI Investments Company $SEIC

Clark Capital Management Group Inc. lifted its stake in SEI Investments Company (NASDAQ:SEIC) by 2,333.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 645,859 shares of the asset manager’s stock after purchasing an additional 619,315 shares during the quarter. Clark Capital Management Group Inc.’s holdings in SEI Investments were worth $52,973,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of SEI Investments by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after purchasing an additional 30,970 shares in the last quarter. M&G PLC purchased a new position in SEI Investments in the 3rd quarter worth approximately $10,413,000. Prana Capital Management LP raised its holdings in SEI Investments by 60.8% in the 3rd quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock worth $60,355,000 after acquiring an additional 269,023 shares during the last quarter. Mill Creek Capital Advisors LLC purchased a new position in SEI Investments in the 3rd quarter worth approximately $4,240,000. Finally, Polar Asset Management Partners Inc. raised its holdings in SEI Investments by 312.1% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 49,043 shares of the asset manager’s stock worth $4,161,000 after acquiring an additional 37,143 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

SEI Investments Trading Up 1.3%

NASDAQ:SEIC opened at $90.73 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The firm has a market capitalization of $10.91 billion, a price-to-earnings ratio of 15.48 and a beta of 0.97. SEI Investments Company has a one year low of $75.08 and a one year high of $93.96. The business has a fifty day moving average price of $87.26 and a 200-day moving average price of $84.04.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, topping the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million during the quarter, compared to analyst estimates of $641.82 million. During the same period in the prior year, the business posted $1.17 EPS. SEI Investments’s revenue was up 12.9% on a year-over-year basis. Sell-side analysts forecast that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Dividend Announcement

The firm also recently declared a dividend, which was paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th were paid a $0.52 dividend. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments’s dividend payout ratio is presently 17.75%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SEIC. Piper Sandler restated an “overweight” rating and issued a $105.00 price objective (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Raymond James Financial restated an “outperform” rating and issued a $82.00 price objective on shares of SEI Investments in a report on Wednesday, April 29th. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Finally, Morgan Stanley decreased their price objective on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $103.00.

Insiders Place Their Bets

In related news, insider Sanjay Sharma sold 25,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the transaction, the insider owned 39,829 shares of the company’s stock, valued at approximately $3,589,389.48. This trade represents a 38.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the transaction, the director directly 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 position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 54,000 shares of company stock worth $4,905,640. 4.80% of the stock is currently 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.