Vest Financial LLC Acquires Shares of 33,232 SEI Investments (NASDAQ:SEIC)

Vest Financial LLC acquired a new stake in SEI Investments (NASDAQ:SEIC - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 33,232 shares of the asset manager's stock, valued at approximately $2,580,000.

A number of other large investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of SEI Investments in the fourth quarter worth about $48,009,000. Raymond James Financial Inc. bought a new position in shares of SEI Investments in the 4th quarter valued at approximately $42,548,000. GAMMA Investing LLC raised its stake in shares of SEI Investments by 9,563.5% in the 1st quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock valued at $36,526,000 after acquiring an additional 465,646 shares in the last quarter. FMR LLC lifted its holdings in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in SEI Investments during the fourth quarter worth approximately $26,702,000. 70.59% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the transaction, the insider now directly owns 23,895 shares of the company's stock, valued at $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the transaction, the chairman now directly owns 6,937,582 shares of the company's stock, valued at $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,126 shares of company stock worth $19,638,659. 14.60% of the stock is currently owned by company insiders.

SEI Investments Stock Down 1.3%

SEI Investments stock traded down $1.11 during mid-day trading on Monday, reaching $84.53. The company had a trading volume of 601,562 shares, compared to its average volume of 721,422. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a 50 day moving average of $78.69 and a 200-day moving average of $80.42. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.41 and a beta of 0.91.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. During the same quarter in the prior year, the business earned $0.99 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has authorized a stock 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 purchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th will be given a $0.49 dividend. The ex-dividend date is Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is currently 21.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SEIC shares. William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Morgan Stanley set a $84.00 price target on shares of SEI Investments and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Finally, Piper Sandler lifted their price objective on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $88.00.

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.