Charles Schwab Investment Management Inc. Has $52.14 Million Stock Position in SEI Investments Company (NASDAQ:SEIC)

Charles Schwab Investment Management Inc. grew its holdings in shares of SEI Investments Company (NASDAQ:SEIC) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 671,672 shares of the asset manager’s stock after buying an additional 3,339 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SEI Investments were worth $52,142,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SEIC. Mariner LLC grew its holdings in shares of SEI Investments by 5.2% during the fourth quarter. Mariner LLC now owns 8,404 shares of the asset manager’s stock valued at $693,000 after buying an additional 419 shares during the last quarter. CreativeOne Wealth LLC bought a new position in shares of SEI Investments during the fourth quarter valued at about $242,000. Carbahal Olsen Financial Services Group LLC bought a new position in shares of SEI Investments during the fourth quarter valued at about $330,000. BI Asset Management Fondsmaeglerselskab A S lifted its position in shares of SEI Investments by 47.1% during the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,382 shares of the asset manager’s stock valued at $2,176,000 after purchasing an additional 8,450 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of SEI Investments by 8.3% during the fourth quarter. MetLife Investment Management LLC now owns 55,261 shares of the asset manager’s stock valued at $4,558,000 after purchasing an additional 4,219 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the sale, the insider owned 1,300 shares of the company’s stock, valued at $115,375. The trade was a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the business’s stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the completion of the sale, the chairman directly owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 146,126 shares of company stock worth $12,450,349. Insiders own 14.60% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $88.19 on Friday. The firm has a market cap of $10.90 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.37 and a beta of 0.95. SEI Investments Company has a 52 week low of $64.66 and a 52 week high of $93.96. The firm’s 50-day simple moving average is $88.60 and its two-hundred day simple moving average is $82.39.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, topping the consensus estimate of $1.18 by $0.60. The business had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. This is an increase from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments’s payout ratio is presently 18.39%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $98.00 price target (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. William Blair reissued a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Oppenheimer raised their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Wall Street Zen raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Finally, Raymond James Financial raised their price target on shares of SEI Investments from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, SEI Investments presently has a consensus rating of “Moderate Buy” and an average target price of $102.00.

SEI Investments Profile

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.