SEI Investments (NASDAQ:SEIC) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. reduced its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 47.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,169 shares of the asset manager's stock after selling 5,553 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in SEI Investments were worth $479,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. King Luther Capital Management Corp acquired a new stake in shares of SEI Investments in the 4th quarter valued at about $2,645,000. New York Life Investment Management LLC acquired a new position in SEI Investments during the fourth quarter worth approximately $863,000. Lecap Asset Management Ltd. purchased a new stake in SEI Investments in the fourth quarter valued at approximately $480,000. Bank of New York Mellon Corp boosted its holdings in shares of SEI Investments by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after acquiring an additional 46,425 shares during the period. Finally, Proficio Capital Partners LLC acquired a new stake in shares of SEI Investments in the fourth quarter valued at approximately $993,000. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Price Performance

Shares of SEIC stock traded up $1.05 during mid-day trading on Thursday, hitting $84.18. The stock had a trading volume of 731,852 shares, compared to its average volume of 723,250. The firm has a market cap of $10.48 billion, a PE ratio of 19.05, a PEG ratio of 1.41 and a beta of 0.91. The company's 50-day simple moving average is $79.32 and its 200-day simple moving average is $80.49. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. During the same period in the prior year, the company posted $0.99 earnings per share. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. On average, analysts expect that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date is Monday, June 9th. SEI Investments's dividend payout ratio is 21.30%.

SEI Investments declared that its Board of Directors has initiated a stock repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SEIC shares. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Morgan Stanley set a $84.00 target price on shares of SEI Investments and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. Keefe, Bruyette & Woods raised their price target on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction dated 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 transaction, the insider now directly owns 23,895 shares in the company, valued at approximately $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ryan Hicke sold 21,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the sale, the chief executive officer now owns 171,260 shares of the company's stock, valued at approximately $14,276,233.60. The trade was a 10.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 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.