SEI Investments Company (NASDAQ:SEIC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 395,285 shares of the asset manager's stock after selling 11,295 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.31% of SEI Investments worth $30,686,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust purchased a new stake in SEI Investments in the fourth quarter worth $31,000. Versant Capital Management Inc grew its stake 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 worth $42,000 after acquiring an additional 331 shares during the period. First Horizon Advisors Inc. raised its stake in SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock valued at $62,000 after buying an additional 225 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after purchasing an additional 172 shares during the period. Finally, CIBC Private Wealth Group LLC raised its stake 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 worth $77,000 after buying an additional 238 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SEIC has been the subject of several research analyst reports. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Oppenheimer boosted their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Finally, William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.00.

Insiders Place Their Bets

In other news, insider Sanjay Sharma sold 20,000 shares of the 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 completion of the transaction, the insider directly owned 23,895 shares in the company, valued at approximately $1,992,843. This represents a 45.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the completion of the sale, the chairman directly owned 7,003,708 shares in the company, valued at $600,778,072.24. This trade represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 232,126 shares of company stock worth $19,638,659. 14.60% of the stock is owned by company insiders.

SEI Investments Stock Performance

NASDAQ:SEIC traded down $1.65 during mid-day trading on Tuesday, hitting $91.13. 783,845 shares of the company's stock traded hands, compared to its average volume of 750,751. The company has a fifty day moving average of $85.89 and a 200 day moving average of $81.19. SEI Investments Company has a twelve month low of $62.38 and a twelve month high of $93.82. The company has a market capitalization of $11.34 billion, a P/E ratio of 19.81, a P/E/G ratio of 1.57 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data 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 net margin of 27.77% and a return on equity of 26.40%. The business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period in the previous year, the firm posted $0.99 earnings per share. The business's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, research analysts expect 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. Shareholders of record on Monday, June 9th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a yield of 2.15%. The ex-dividend date 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 currently 21.30%.

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

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.