SEI Investments Company (NASDAQ:SEIC) Shares Sold by JLB & Associates Inc.

JLB & Associates Inc. trimmed its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 276,604 shares of the asset manager's stock after selling 4,582 shares during the quarter. SEI Investments accounts for approximately 3.0% of JLB & Associates Inc.'s investment portfolio, making the stock its 11th biggest holding. JLB & Associates Inc. owned 0.22% of SEI Investments worth $21,473,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. Norges Bank purchased a new position in SEI Investments during the fourth quarter worth approximately $48,009,000. Raymond James Financial Inc. acquired a new position in SEI Investments during the fourth quarter worth $42,548,000. GAMMA Investing LLC lifted its holdings in SEI Investments by 9,563.5% during the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock valued at $36,526,000 after purchasing an additional 465,646 shares in the last quarter. FMR LLC lifted its holdings in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after purchasing an additional 348,112 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of SEI Investments during the fourth quarter worth about $26,702,000. 70.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SEIC has been the topic of several research analyst reports. Morgan Stanley set a $84.00 price objective on SEI Investments and gave the stock an "overweight" rating in a report on Tuesday, June 3rd. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. William Blair restated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Finally, Piper Sandler raised their price target on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded down $0.33 during trading on Wednesday, hitting $83.22. 1,341,305 shares of the company were exchanged, compared to its average volume of 727,810. The company has a fifty day moving average price of $80.75 and a 200-day moving average price of $80.54. The firm has a market capitalization of $10.36 billion, a PE ratio of 18.09, a P/E/G ratio of 1.49 and a beta of 0.91. SEI Investments Company has a 12-month low of $62.38 and a 12-month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. SEI Investments's revenue was up 7.8% compared to the same quarter last year. During the same period last year, the business earned $0.99 earnings per share. Research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.36%. 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 payout ratio is presently 21.30%.

SEI Investments declared that its board has approved 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 stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of SEI Investments stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 13,500 shares in the company, valued at $1,137,645. This trade represents a 78.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 23,895 shares in the company, valued at $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 232,126 shares of company stock valued at $19,638,659. 14.60% of the stock is currently owned by company insiders.

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.