JLB & Associates Inc. Decreases Stake in SEI Investments Company (NASDAQ:SEIC)

JLB & Associates Inc. decreased its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 276,604 shares of the asset manager's stock after selling 4,582 shares during the period. SEI Investments comprises approximately 3.0% of JLB & Associates Inc.'s holdings, making the stock its 11th largest holding. JLB & Associates Inc. owned approximately 0.22% of SEI Investments worth $21,473,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. CoreFirst Bank & Trust purchased a new position in SEI Investments in the 4th quarter worth about $31,000. Allworth Financial LP grew its stake in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares in the last quarter. Versant Capital Management Inc increased its position in shares of SEI Investments by 156.1% during 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. increased its position in shares of SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares during the period. Finally, Rialto Wealth Management LLC bought a new stake in shares of SEI Investments during the fourth quarter valued at approximately $55,000. 70.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michael Peterson sold 50,000 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the transaction, the executive vice president now directly owns 13,500 shares in the company, valued at $1,137,645. The trade was a 78.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated 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 sale, the insider now owns 23,895 shares of the company's stock, valued at approximately $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. Insiders sold a total of 232,126 shares of company stock worth $19,638,659 in the last 90 days. 14.60% of the stock is owned by corporate insiders.

SEI Investments Price Performance

Shares of SEIC remained flat at $83.22 during trading hours on Friday. The stock had a trading volume of 1,419,816 shares, compared to its average volume of 730,567. The company has a market cap of $10.36 billion, a P/E ratio of 18.09, a PEG ratio of 1.48 and a beta of 0.91. SEI Investments Company has a 52-week low of $62.38 and a 52-week high of $87.25. The business's 50 day moving average price is $80.99 and its two-hundred day moving average price is $80.55.

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

SEI Investments declared that its board has initiated a stock buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were given 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 2.36%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 21.30%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SEIC shares. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Morgan Stanley set a $84.00 price target on SEI Investments and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Piper Sandler raised their price target on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Keefe, Bruyette & Woods increased 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $88.00.

SEI Investments Company 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.