AE Wealth Management LLC Purchases Shares of 3,854 SEI Investments Company (NASDAQ:SEIC)

Key Points

• AE Wealth Management LLC acquired 3,854 shares of SEI Investments Company valued at approximately $299,000 during the first quarter, indicating growing institutional interest in the stock.
• A number of large investors have also significantly increased their stakes in SEI Investments, with notable increases from FMR LLC and Geode Capital Management, raising their positions by 39.3% and 2.4%, respectively.
• SEI Investments recently announced a quarterly dividend increase to $0.49 per share, boosting its yield to 2.21%, demonstrating the company's commitment to returning value to shareholders.

AE Wealth Management LLC bought a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,854 shares of the asset manager's stock, valued at approximately $299,000.

Several other large investors also recently added to or reduced their stakes in SEIC. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of SEI Investments by 21.2% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 86,951 shares of the asset manager's stock valued at $6,750,000 after buying an additional 15,207 shares during the period. Gallacher Capital Management LLC purchased a new stake in shares of SEI Investments in the first quarter valued at approximately $223,000. IFP Advisors Inc boosted its holdings in shares of SEI Investments by 257.2% in the first quarter. IFP Advisors Inc now owns 1,936 shares of the asset manager's stock valued at $158,000 after purchasing an additional 1,394 shares during the period. Impact Partnership Wealth LLC purchased a new stake in shares of SEI Investments in the first quarter valued at approximately $286,000. Finally, Forum Financial Management LP purchased a new stake in SEI Investments during the first quarter worth $208,000. 70.59% of the stock is owned by institutional investors.

Insider Buying and Selling at SEI Investments

In related news, EVP Michael Peterson sold 50,000 shares of SEI Investments stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the completion of the sale, the executive vice president owned 13,500 shares in the company, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the sale, the insider owned 23,895 shares of the company's stock, valued at $1,992,843. This trade represents a 45.56% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,126 shares of company stock worth $20,082,409. Insiders own 14.60% of the company's stock.

SEI Investments Stock Down 1.9%

Shares of SEIC stock traded down $1.67 during mid-day trading on Friday, hitting $86.45. 972,185 shares of the stock were exchanged, compared to its average volume of 941,658. The firm has a fifty day moving average of $88.02 and a 200 day moving average of $82.10. SEI Investments Company has a 52-week low of $62.38 and a 52-week high of $93.96. The company has a market cap of $10.69 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same period last year, the company posted $1.05 EPS. SEI Investments's quarterly revenue was up 7.8% compared to the same quarter last year. Equities analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued a dividend of $0.49 per share. The ex-dividend date was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.3%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is 18.39%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SEIC shares. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Piper Sandler reduced their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock 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. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 target price (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of "Moderate Buy" and an average target price of $102.00.

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.