Brown Advisory Inc. Has $1.16 Million Position in SEI Investments Company (NASDAQ:SEIC)

Brown Advisory Inc. lessened its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 97.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,939 shares of the asset manager's stock after selling 553,088 shares during the quarter. Brown Advisory Inc.'s holdings in SEI Investments were worth $1,160,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SEIC. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in SEI Investments by 59.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock valued at $974,000 after acquiring an additional 4,701 shares during the period. Janney Montgomery Scott LLC acquired a new stake in SEI Investments during the first quarter valued at approximately $206,000. Wealth Enhancement Advisory Services LLC boosted its holdings 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 valued at $1,654,000 after purchasing an additional 6,261 shares in the last quarter. Boston Trust Walden Corp grew its stake in shares of SEI Investments by 1.5% in the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after purchasing an additional 19,150 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler boosted their price target on SEI Investments from $79.00 to $96.00 and gave the company a "neutral" rating in a research note on Wednesday, July 2nd. Oppenheimer lifted their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $96.00.

SEI Investments Price Performance

Shares of SEIC stock traded down $1.05 during trading hours on Tuesday, hitting $91.73. 77,058 shares of the company's stock were exchanged, compared to its average volume of 748,052. SEI Investments Company has a 52 week low of $62.38 and a 52 week high of $93.82. The stock has a market cap of $11.42 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.57 and a beta of 0.92. The stock's 50-day moving average is $85.89 and its 200-day moving average is $81.19.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The firm had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The company's revenue was up 7.8% on a year-over-year basis. Equities research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a $0.49 dividend. The ex-dividend date was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.14%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is currently 21.30%.

SEI Investments declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Activity at SEI Investments

In other news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the transaction, the insider owned 23,895 shares of the company's stock, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 13,500 shares in the company, valued at approximately $1,137,645. This represents a 78.74% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, 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 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.