111 Capital Buys New Shares in SEI Investments (NASDAQ:SEIC)

111 Capital acquired a new stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 6,548 shares of the asset manager's stock, valued at approximately $540,000.

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after buying an additional 60,307 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after buying an additional 20,020 shares during the last quarter. FMR LLC raised its position in shares of SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after buying an additional 348,112 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after buying an additional 46,425 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of SEI Investments by 20.9% during the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after buying an additional 184,339 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Down 0.7%

SEIC stock traded down $0.61 during midday trading on Monday, reaching $84.65. 1,486,557 shares of the company's stock traded hands, compared to its average volume of 713,723. The company has a 50-day simple moving average of $78.07 and a two-hundred day simple moving average of $80.28. The company has a market cap of $10.54 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. The firm had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.99 earnings per share. Equities research analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.32%. SEI Investments's payout ratio is currently 21.30%.

SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts recently commented on SEIC shares. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods raised their target price on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Piper Sandler raised their target price on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Morgan Stanley restated an "overweight" rating and set a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments has an average rating of "Moderate Buy" and a consensus target price of $87.60.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the sale, the chairman now directly owns 7,003,708 shares in the company, valued at $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Ryan Hicke sold 21,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the sale, the chief executive officer now owns 171,260 shares in the company, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 233,498 shares of company stock worth $19,743,315. Corporate insiders own 14.60% of the company's stock.

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.