JLB & Associates Inc. Purchases Shares of 261,576 SEI Investments Company $SEIC

JLB & Associates Inc. purchased a new stake in SEI Investments Company (NASDAQ:SEIC) during the 2nd quarter, Holdings Channel reports. The firm purchased 261,576 shares of the asset manager’s stock, valued at approximately $22,943,000. SEI Investments accounts for 3.1% of JLB & Associates Inc.’s portfolio, making the stock its 9th biggest position.

A number of other hedge funds also recently made changes to their positions in SEIC. BlackRock Inc. acquired a new position in shares of SEI Investments during the second quarter worth approximately $870,745,000. Bank of New York Mellon Corp acquired a new stake in SEI Investments in the 2nd quarter valued at approximately $78,430,000. Norges Bank bought a new stake in SEI Investments during the 4th quarter valued at $53,548,000. Clark Capital Management Group Inc. raised its stake in SEI Investments by 2,333.2% during the 4th quarter. Clark Capital Management Group Inc. now owns 645,859 shares of the asset manager’s stock valued at $52,973,000 after acquiring an additional 619,315 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab acquired a new position in SEI Investments during the 4th quarter worth $43,186,000. Institutional investors own 70.59% of the company’s stock.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 50,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $87.25, for a total transaction of $4,362,500.00. Following the completion of the transaction, the chairman owned 6,825,783 shares in the company, valued at approximately $595,549,566.75. This trade represents a 0.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $99.33, for a total transaction of $1,986,600.00. Following the completion of the sale, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 142,332 shares of company stock valued at $13,745,813. Corporate insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on SEIC shares. Morgan Stanley increased their price target on SEI Investments from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, July 25th. Keefe, Bruyette & Woods upped their price objective on shares of SEI Investments from $113.00 to $119.00 and gave the stock an “outperform” rating in a report on Thursday, July 23rd. Piper Sandler increased their target price on shares of SEI Investments from $114.00 to $120.00 and gave the company an “overweight” rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and six have given a Buy rating to the stock. Based on data from MarketBeat.com, SEI Investments presently has a consensus rating of “Buy” and a consensus target price of $122.60.

SEI Investments Stock Performance

SEIC opened at $106.92 on Wednesday. The company has a market capitalization of $12.83 billion, a price-to-earnings ratio of 18.86 and a beta of 0.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 5.06 and a quick ratio of 4.96. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $107.46. The business has a 50 day moving average price of $96.82 and a two-hundred day moving average price of $88.35.

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, beating 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 company had revenue of $641.62 million for the quarter, compared to analysts’ expectations of $636.35 million. During the same period last year, the firm earned $1.78 EPS. The firm’s revenue for the quarter was up 14.7% on a year-over-year basis. Research analysts predict that SEI Investments Company will post 6.2 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The company also recently announced a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is currently 18.34%.

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.