Connor Clark & Lunn Investment Management Ltd. Takes $36.93 Million Position in SEI Investments Company $SEIC

Connor Clark & Lunn Investment Management Ltd. acquired a new position in SEI Investments Company (NASDAQ:SEIC) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 421,046 shares of the asset manager’s stock, valued at approximately $36,930,000. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of SEI Investments as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Globeflex Capital L P purchased a new position in SEI Investments in the 2nd quarter worth approximately $669,000. Foyston Gordon & Payne Inc purchased a new stake in SEI Investments during the 2nd quarter valued at approximately $13,940,000. Commerce Bank purchased a new stake in SEI Investments during the 2nd quarter valued at approximately $935,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of SEI Investments during the second quarter valued at approximately $168,000. Finally, Quantbot Technologies LP bought a new stake in shares of SEI Investments during the second quarter valued at approximately $1,070,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In related news, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $103.53, for a total transaction of $1,035,300.00. Following the completion of the sale, the director owned 77,883 shares of the company’s stock, valued at $8,063,226.99. The trade was a 11.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $103.19, for a total transaction of $1,031,900.00. Following the completion of the sale, the director directly owned 18,308 shares in the company, valued at $1,889,202.52. This trade represents a 35.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 142,332 shares of company stock worth $13,745,813. 4.80% of the stock is owned by corporate insiders.

SEI Investments Trading Up 1.1%

SEIC stock opened at $110.75 on Tuesday. SEI Investments Company has a 12 month low of $75.08 and a 12 month high of $111.90. The firm’s 50-day moving average is $98.41 and its 200 day moving average is $88.96. The company has a market capitalization of $13.29 billion, a PE ratio of 19.53 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 22nd. The asset manager reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.22. The company had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $636.35 million. SEI Investments had a net margin of 28.85% and a return on equity of 29.16%. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.78 EPS. On average, research analysts anticipate that SEI Investments Company will post 6.2 EPS for the current year.

SEI Investments Announces Dividend

The company also recently announced a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were given a $0.52 dividend. This represents a dividend yield of 118.0%. The ex-dividend date of this dividend was Monday, June 8th. SEI Investments’s dividend payout ratio is presently 18.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SEIC shares. UBS Group restated a “buy” rating and set a $125.00 target price on shares of SEI Investments in a research report on Thursday, July 23rd. Raymond James Financial boosted their price target 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. Zacks Research raised shares of SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company. According to data from MarketBeat, SEI Investments has a consensus rating of “Buy” and a consensus target price of $122.60.

About SEI Investments

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.