King Luther Capital Management Corp Grows Stock Holdings in SEI Investments Company $SEIC

King Luther Capital Management Corp raised its position in SEI Investments Company (NASDAQ:SEIC) by 10.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,439 shares of the asset manager’s stock after acquiring an additional 12,713 shares during the quarter. King Luther Capital Management Corp owned approximately 0.11% of SEI Investments worth $11,273,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of SEIC. PFA Pension Forsikringsaktieselskab purchased a new position in shares of SEI Investments in the fourth quarter valued at about $43,186,000. Qube Research & Technologies Ltd increased its position in shares of SEI Investments by 82.5% in the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after acquiring an additional 346,696 shares during the period. Caisse de depot et placement du Quebec boosted its stake in shares of SEI Investments by 31.0% during the 3rd quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock valued at $114,018,000 after purchasing an additional 317,703 shares in the last quarter. Arbejdsmarkedets Tillaegspension bought a new stake in shares of SEI Investments during the 4th quarter valued at about $23,390,000. Finally, Prana Capital Management LP boosted its stake in shares of SEI Investments by 60.8% during the 3rd quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock valued at $60,355,000 after purchasing an additional 269,023 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 7,447 shares of the business’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $79.26, for a total transaction of $590,249.22. Following the sale, the chairman owned 6,875,783 shares of the company’s stock, valued at $544,974,560.58. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the sale, the director directly owned 77,883 shares in the company, valued at $7,092,804.81. The trade was a 11.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 116,447 shares of company stock valued at $9,908,539 over the last three months. 4.80% of the stock is currently owned by corporate insiders.

SEI Investments Trading Down 1.2%

Shares of SEIC opened at $89.68 on Thursday. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $84.13 and its 200-day moving average price is $83.26. The firm has a market capitalization of $10.79 billion, a price-to-earnings ratio of 15.30 and a beta of 1.00.

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 net margin of 31.17% and a return on equity of 30.70%. The business had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share. SEI Investments’s quarterly revenue was up 12.9% on a year-over-year basis. Sell-side analysts anticipate that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 8th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, June 8th. This represents a yield of 116.0%. SEI Investments’s payout ratio is presently 17.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SEIC shares. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a research note on Thursday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Morgan Stanley cut their target price on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Raymond James Financial reaffirmed an “outperform” rating and set a $82.00 target price on shares of SEI Investments in a research note on Wednesday, April 29th. Finally, UBS Group started coverage on shares of SEI Investments in a research note on Wednesday, February 4th. They set a “buy” rating and a $115.00 target price on the stock. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $103.00.

SEI Investments Company 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.