Focus Partners Advisor Solutions LLC Makes New $670,000 Investment in SEI Investments Company $SEIC

Focus Partners Advisor Solutions LLC purchased a new stake in SEI Investments Company (NASDAQ:SEIC) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,644 shares of the asset manager’s stock, valued at approximately $670,000.

A number of other hedge funds have also recently made changes to their positions in SEIC. Bank of America Corp DE raised its position in shares of SEI Investments by 4.4% in the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after buying an additional 133,057 shares in the last quarter. Geode Capital Management LLC grew its position in SEI Investments by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after buying an additional 109,974 shares in the last quarter. Lord Abbett & CO. LLC grew its position in SEI Investments by 19.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,917,370 shares of the asset manager’s stock worth $157,263,000 after buying an additional 308,988 shares in the last quarter. Dimensional Fund Advisors LP grew its position in SEI Investments by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 1,873,198 shares of the asset manager’s stock worth $146,984,000 after buying an additional 20,054 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in SEI Investments by 1.2% in the 1st quarter. First Trust Advisors LP now owns 1,822,669 shares of the asset manager’s stock worth $143,025,000 after acquiring an additional 21,731 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SEIC. UBS Group reaffirmed a “buy” rating and issued a $125.00 price target on shares of SEI Investments in a report on Thursday, July 23rd. Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 23rd. Raymond James Financial upped their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the stock an “outperform” rating in a research report on Monday, July 6th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Finally, Morgan Stanley lifted their target price on shares of SEI Investments from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $122.60.

Insider Buying and Selling

In other SEI Investments news, Director Carl Guarino sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $103.19, for a total value of $1,031,900.00. Following the completion of the sale, the director owned 18,308 shares of the company’s stock, valued at $1,889,202.52. This represents a 35.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the transaction, the insider owned 39,829 shares in the company, valued at $3,956,214.57. The trade was a 33.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 142,332 shares of company stock worth $13,745,813 over the last ninety days. Corporate insiders own 4.80% of the company’s stock.

SEI Investments Stock Down 0.9%

SEIC opened at $105.47 on Tuesday. The business’s fifty day simple moving average is $96.49 and its 200 day simple moving average is $88.21. SEI Investments Company has a 52 week low of $75.08 and a 52 week high of $107.00. The company has a quick ratio of 4.96, a current ratio of 5.06 and a debt-to-equity ratio of 0.06. The stock has a market cap of $12.66 billion, a PE ratio of 18.60 and a beta of 0.96.

SEI Investments (NASDAQ:SEIC) last issued its quarterly 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. SEI Investments had a return on equity of 29.16% and a net margin of 28.85%.The firm had revenue of $641.62 million during the quarter, compared to analyst estimates of $636.35 million. During the same quarter in the previous year, the company posted $1.78 earnings per share. The company’s revenue was up 14.7% compared to the same quarter last year. As a group, research analysts expect that SEI Investments Company will post 6.2 earnings per share for the current fiscal year.

SEI Investments Announces Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were issued a dividend of $0.52 per share. 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 (DPR) is currently 18.34%.

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.