SEI Investments Company (NASDAQ:SEIC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,132,943 shares of the asset manager's stock after selling 38,800 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of SEI Investments worth $87,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the fourth quarter valued at approximately $31,000. Versant Capital Management Inc increased its holdings in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after purchasing an additional 225 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after purchasing an additional 172 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of SEI Investments by 33.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 943 shares of the asset manager's stock valued at $77,000 after purchasing an additional 238 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Up 0.5%

SEIC traded up $0.45 during trading hours on Monday, hitting $92.78. 848,806 shares of the company's stock were exchanged, compared to its average volume of 750,600. SEI Investments Company has a 12-month low of $62.38 and a 12-month high of $93.82. The firm has a 50 day moving average of $85.89 and a 200 day moving average of $81.19. The firm has a market cap of $11.55 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92.

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. The company had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.99 EPS. As a group, research analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

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 Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.11%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is 21.30%.

Insiders Place Their Bets

In related news, CEO Ryan Hicke sold 21,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were 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 directly owned 23,895 shares in the company, 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 ninety days, insiders sold 232,126 shares of company stock worth $19,638,659. 14.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer increased their price objective on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective 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. Finally, Piper Sandler increased their price objective on SEI Investments from $79.00 to $96.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $96.00.

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.