Lord Abbett & CO. LLC Buys 308,988 Shares of SEI Investments Company $SEIC

Lord Abbett & CO. LLC raised its holdings in SEI Investments Company (NASDAQ:SEIC) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,917,370 shares of the asset manager’s stock after buying an additional 308,988 shares during the quarter. Lord Abbett & CO. LLC owned 1.57% of SEI Investments worth $157,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in SEI Investments by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock valued at $955,461,000 after buying an additional 30,970 shares during the period. M&G PLC bought a new stake in SEI Investments in the 3rd quarter valued at $10,413,000. Prana Capital Management LP increased 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 valued at $60,355,000 after buying an additional 269,023 shares during the period. Mill Creek Capital Advisors LLC bought a new stake in SEI Investments in the 3rd quarter valued at $4,240,000. Finally, Polar Asset Management Partners Inc. increased 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 valued at $4,161,000 after buying an additional 37,143 shares during the period. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Morgan Stanley lowered their price target on shares of SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Keefe, Bruyette & Woods upped their target price 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. Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a report on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $103.00.

SEI Investments Stock Up 1.4%

SEIC opened at $89.40 on Friday. The firm’s 50-day simple moving average is $86.73 and its 200-day simple moving average is $83.88. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. SEI Investments Company has a twelve month low of $75.08 and a twelve month high of $93.96. The firm has a market cap of $10.75 billion, a price-to-earnings ratio of 15.26 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share 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 prior year, the firm earned $1.17 EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments Company will post 5.89 EPS for the current fiscal year.

SEI Investments Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 8th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio is 17.75%.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 4,000 shares of the company’s stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total transaction of $364,640.00. Following the transaction, the insider owned 921 shares in the company, valued at $83,958.36. This represents a 81.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of the company’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 transaction, the director owned 77,883 shares in the company, valued at approximately $7,092,804.81. This trade represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 54,000 shares of company stock worth $4,905,640 in the last 90 days. Corporate insiders own 4.80% of the company’s stock.

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.