GAMMA Investing LLC Has $108,000 Position in SEI Investments (NASDAQ:SEIC)

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

A number of other institutional investors and hedge funds have also bought and sold shares of SEIC. HighTower Advisors LLC increased its holdings in SEI Investments by 10.8% in the 3rd quarter. HighTower Advisors LLC now owns 9,302 shares of the asset manager’s stock worth $554,000 after purchasing an additional 909 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of SEI Investments by 69.3% in the 3rd quarter. Envestnet Asset Management Inc. now owns 381,037 shares of the asset manager’s stock valued at $22,950,000 after buying an additional 155,991 shares during the last quarter. FMR LLC grew its position in shares of SEI Investments by 43.8% in the 3rd quarter. FMR LLC now owns 360,732 shares of the asset manager’s stock valued at $21,727,000 after buying an additional 109,962 shares during the last quarter. Invesco Ltd. grew its position in shares of SEI Investments by 73.1% in the 3rd quarter. Invesco Ltd. now owns 1,125,659 shares of the asset manager’s stock valued at $67,798,000 after buying an additional 475,226 shares during the last quarter. Finally, LPL Financial LLC grew its position in shares of SEI Investments by 31.0% in the 3rd quarter. LPL Financial LLC now owns 62,176 shares of the asset manager’s stock valued at $3,745,000 after buying an additional 14,722 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the transaction, the chairman now directly owns 7,677,471 shares of the company’s stock, valued at approximately $522,759,000.39. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of the stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the completion of the sale, the chairman now directly owns 7,677,471 shares of the company’s stock, valued at $522,759,000.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the stock in a transaction that occurred on 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 sale, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 287,363 shares of company stock valued at $20,081,067. 14.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Piper Sandler reduced their price target on SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a research report on Thursday, April 25th. Oppenheimer upped their price target on SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 9th. StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $74.00 target price (up previously from $72.00) on shares of SEI Investments in a research report on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments presently has an average rating of “Hold” and a consensus target price of $71.00.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $65.80 on Friday. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The stock’s 50-day moving average is $66.86 and its 200 day moving average is $66.35. The firm has a market cap of $8.65 billion, a price-to-earnings ratio of 17.98, a PEG ratio of 1.33 and a beta of 1.02.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results 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. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The business had revenue of $511.58 million for the quarter, compared to the consensus estimate of $510.41 million. During the same period in the prior year, the business earned $0.79 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, sell-side analysts expect that SEI Investments will post 4.14 EPS for the current fiscal year.

SEI Investments Increases Dividend

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

SEI Investments Company 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.