Abacus FCF Advisors LLC Sells 3,828 Shares of SEI Investments (NASDAQ:SEIC)

Abacus FCF Advisors LLC decreased its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 12.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 26,671 shares of the asset manager's stock after selling 3,828 shares during the period. Abacus FCF Advisors LLC's holdings in SEI Investments were worth $2,070,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the fourth quarter worth $31,000. Allworth Financial LP lifted its position in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Versant Capital Management Inc boosted its holdings in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after acquiring an additional 331 shares during the period. First Horizon Advisors Inc. grew its position in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares during the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of SEI Investments in the fourth quarter worth about $55,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Down 0.4%

SEIC traded down $0.31 during midday trading on Tuesday, reaching $84.22. 834,655 shares of the company's stock were exchanged, compared to its average volume of 721,871. The business has a 50-day simple moving average of $78.82 and a two-hundred day simple moving average of $80.45. The firm has a market capitalization of $10.48 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91. SEI Investments has a one year low of $62.38 and a one 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 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same quarter last year, the company earned $0.99 EPS. SEI Investments's revenue was up 7.8% on a year-over-year basis. As a group, research analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 2.33%. The ex-dividend date is Monday, June 9th. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is currently 21.30%.

SEI Investments announced that its Board of Directors has approved a share repurchase program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

SEIC has been the topic of several research analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Morgan Stanley set a $84.00 target price on shares of SEI Investments and gave the company an "overweight" rating in a research note on Tuesday, June 3rd. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Insider Activity

In related news, EVP Michael Peterson sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the sale, the executive vice president now directly owns 13,500 shares in the company, valued at $1,137,645. This represents a 78.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the business'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 in the company, valued at approximately $1,992,843. This represents a 45.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 232,126 shares of company stock worth $19,638,659. 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.