SEI Investments Company (NASDAQ:SEIC) Shares Acquired by Alps Advisors Inc.

Alps Advisors Inc. lifted its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 9.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 278,328 shares of the asset manager's stock after purchasing an additional 24,495 shares during the period. Alps Advisors Inc. owned about 0.22% of SEI Investments worth $21,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. King Luther Capital Management Corp purchased a new stake in shares of SEI Investments during the fourth quarter valued at $2,645,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of SEI Investments by 59.9% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock valued at $974,000 after purchasing an additional 4,701 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in SEI Investments in the 1st quarter worth about $206,000. Wealth Enhancement Advisory Services LLC boosted its position in SEI Investments by 41.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager's stock worth $1,654,000 after purchasing an additional 6,261 shares in the last quarter. Finally, Boston Trust Walden Corp increased its position in shares of SEI Investments by 1.5% in the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after buying an additional 19,150 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on SEIC shares. Morgan Stanley reissued an "overweight" rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Keefe, Bruyette & Woods boosted their price objective on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Piper Sandler lifted their price target on SEI Investments from $79.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Oppenheimer increased their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three investment 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, SEI Investments presently has a consensus rating of "Moderate Buy" and an average target price of $96.00.

Insider Transactions at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the sale, the executive vice president owned 13,500 shares of the company's stock, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the company's stock in a transaction 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 transaction, the chairman owned 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 232,126 shares of company stock valued at $19,638,659. Corporate insiders own 14.30% of the company's stock.

SEI Investments Stock Down 1.6%

Shares of SEIC traded down $1.47 during midday trading on Friday, reaching $92.33. The company had a trading volume of 597,653 shares, compared to its average volume of 750,205. SEI Investments Company has a 1-year low of $62.38 and a 1-year high of $93.82. The firm has a 50 day simple moving average of $85.89 and a 200-day simple moving average of $81.19. The stock has a market cap of $11.49 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

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, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same period in the previous year, the business posted $0.99 EPS. SEI Investments's revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is presently 21.30%.

SEI Investments declared that its board has initiated a stock repurchase plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

SEI Investments Company 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.