Interval Partners LP Increases Stake in SEI Investments (NASDAQ:SEIC)

Interval Partners LP lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 10.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,034 shares of the asset manager’s stock after purchasing an additional 18,787 shares during the quarter. Interval Partners LP owned 0.15% of SEI Investments worth $14,454,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SEIC. Metis Global Partners LLC raised its holdings in SEI Investments by 4.3% in the 4th quarter. Metis Global Partners LLC now owns 5,584 shares of the asset manager’s stock worth $355,000 after purchasing an additional 231 shares during the period. Global Retirement Partners LLC grew its stake in SEI Investments by 32.6% in the 1st quarter. Global Retirement Partners LLC now owns 948 shares of the asset manager’s stock valued at $68,000 after acquiring an additional 233 shares during the period. Chevy Chase Trust Holdings LLC increased its holdings in SEI Investments by 0.9% in the 1st quarter. Chevy Chase Trust Holdings LLC now owns 26,754 shares of the asset manager’s stock worth $1,924,000 after acquiring an additional 244 shares in the last quarter. GAMMA Investing LLC raised its position in SEI Investments by 20.7% during the first quarter. GAMMA Investing LLC now owns 1,496 shares of the asset manager’s stock worth $108,000 after acquiring an additional 257 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in SEI Investments by 2.8% during the fourth quarter. SG Americas Securities LLC now owns 11,291 shares of the asset manager’s stock valued at $718,000 after purchasing an additional 306 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $68.09, for a total value of $3,268,320.00. Following the transaction, the chairman now directly owns 7,677,471 shares in the company, valued at $522,759,000.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Alfred P. West, Jr. sold 48,000 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $68.09, for a total value of $3,268,320.00. Following the sale, the chairman now directly owns 7,677,471 shares in the company, valued at approximately $522,759,000.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William Doran sold 5,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $67.04, for a total transaction of $335,200.00. Following the completion of the transaction, the director now directly owns 656,386 shares in the company, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Insiders sold 123,000 shares of company stock worth $8,406,920 in the last 90 days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock traded up $0.58 during trading hours on Tuesday, reaching $67.67. The company had a trading volume of 663,073 shares, compared to its average volume of 595,180. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54. The company has a market capitalization of $8.89 billion, a price-to-earnings ratio of 18.49, a PEG ratio of 1.33 and a beta of 0.99. The stock has a fifty day moving average of $66.28 and a 200-day moving average of $67.03.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.01. The business had revenue of $518.99 million during the quarter, compared to the consensus estimate of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $0.89 EPS. On average, analysts forecast that SEI Investments will post 4.18 EPS for the current year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 2.72%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Monday, June 10th. SEI Investments’s payout ratio is presently 25.14%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Oppenheimer upped their price target on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price target (down from $74.00) on shares of SEI Investments in a research note on Thursday, July 25th. Finally, Piper Sandler reduced their price objective on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.25.

About SEI Investments

SEI Investments Company is a publicly owned asset management holding company. Through its subsidiaries, the firm provides wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing solutions, financial services, and investment advisory services to its clients.