6,410 Shares in SEI Investments Company $SEIC Purchased by Simplicity Wealth LLC

Simplicity Wealth LLC acquired a new stake in SEI Investments Company (NASDAQ:SEIC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 6,410 shares of the asset manager’s stock, valued at approximately $562,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Bison Wealth LLC acquired a new position in SEI Investments during the fourth quarter worth about $207,000. Baird Financial Group Inc. acquired a new stake in shares of SEI Investments in the first quarter valued at approximately $201,000. Geneos Wealth Management Inc. grew its position in shares of SEI Investments by 60.2% in the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager’s stock valued at $41,000 after purchasing an additional 200 shares during the last quarter. M&T Bank Corp increased its stake in shares of SEI Investments by 11.9% during the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager’s stock worth $289,000 after purchasing an additional 341 shares in the last quarter. Finally, CW Advisors LLC purchased a new position in shares of SEI Investments during the 2nd quarter worth approximately $280,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Mark Andrew Warner sold 15,000 shares of the business’s stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $102.35, for a total transaction of $1,535,250.00. Following the transaction, the insider directly owned 921 shares of the company’s stock, valued at approximately $94,264.35. The trade was a 94.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the transaction, the insider owned 39,829 shares in the company, valued at $3,956,214.57. This represents a 33.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 142,332 shares of company stock worth $13,745,813 in the last quarter. Insiders own 4.80% of the company’s stock.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $105.47 on Tuesday. The firm has a 50 day simple moving average of $96.49 and a 200-day simple moving average of $88.21. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. The firm has a market cap of $12.66 billion, a PE ratio of 18.60 and a beta of 0.96. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $107.00.

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

SEI Investments Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SEIC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. Piper Sandler raised their price target on SEI Investments from $114.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Morgan Stanley raised their price target on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Finally, UBS Group restated a “buy” rating and issued a $125.00 price objective on shares of SEI Investments in a research report on Thursday, July 23rd. One analyst has rated the stock with a Strong Buy rating and six have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, 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.