Advisors Preferred LLC Invests $516,000 in SEI Investments Company $SEIC

Advisors Preferred LLC bought a new position in SEI Investments Company (NASDAQ:SEIC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,571 shares of the asset manager’s stock, valued at approximately $516,000.

Several other hedge funds also recently modified their holdings of the company. Hillsdale Investment Management Inc. boosted its stake in shares of SEI Investments by 49.2% during the first quarter. Hillsdale Investment Management Inc. now owns 13,430 shares of the asset manager’s stock valued at $1,054,000 after purchasing an additional 4,430 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in shares of SEI Investments by 63.6% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,566 shares of the asset manager’s stock valued at $1,300,000 after purchasing an additional 6,442 shares during the last quarter. State of Michigan Retirement System boosted its position in SEI Investments by 1.8% during the first quarter. State of Michigan Retirement System now owns 22,388 shares of the asset manager’s stock valued at $1,757,000 after acquiring an additional 400 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of SEI Investments by 3.7% during the 1st quarter. Principal Financial Group Inc. now owns 207,688 shares of the asset manager’s stock valued at $16,297,000 after purchasing an additional 7,326 shares in the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new stake in shares of SEI Investments during the 1st quarter worth approximately $317,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Trading Up 3.5%

Shares of SEI Investments stock opened at $98.17 on Thursday. SEI Investments Company has a 1 year low of $75.08 and a 1 year high of $98.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The firm has a market cap of $11.81 billion, a PE ratio of 16.75 and a beta of 0.97. The company has a 50 day simple moving average of $90.68 and a two-hundred day simple moving average of $85.39.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same quarter in the prior year, the firm earned $1.17 earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. Analysts expect that SEI Investments Company will post 5.98 earnings per share for the current fiscal year.

SEI Investments Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Tuesday, June 16th. Stockholders of record on Monday, June 8th were paid a $0.52 dividend. The ex-dividend date of this dividend was Monday, June 8th. This represents a dividend yield of 118.0%. SEI Investments’s dividend payout ratio is 17.75%.

Analysts Set New Price Targets

A number of brokerages recently commented on SEIC. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Keefe, Bruyette & Woods raised their price target on shares of SEI Investments from $107.00 to $113.00 and gave the company an “outperform” rating in a research report on Friday, July 10th. Piper Sandler boosted their price objective on SEI Investments from $105.00 to $114.00 and gave the stock an “overweight” rating in a research report on Monday. Morgan Stanley upped their price objective on SEI Investments from $113.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, July 9th. Finally, Raymond James Financial upped their price objective on shares of SEI Investments from $122.00 to $124.00 and gave the company an “outperform” rating in a report on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.20.

Insider Buying and Selling at SEI Investments

In other news, insider Mark Andrew Warner sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the transaction, the insider directly owned 921 shares of the company’s stock, valued at approximately $83,958.36. This trade represents a 81.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sanjay Sharma sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the transaction, the insider owned 39,829 shares in the company, valued at approximately $3,589,389.48. The trade was a 38.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 111,332 shares of company stock valued at $9,908,883. 4.80% of the stock is currently owned by insiders.

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.