SEI Investments Company (NASDAQ:SEIC) Shares Bought by King Luther Capital Management Corp

Key Points

• King Luther Capital Management Corp increased its stake in SEI Investments by 228.6%, acquiring an additional 73,308 shares, bringing its total ownership to approximately 105,371 shares valued at about $8.18 million.
• Insider transactions included Michael Peterson selling 50,000 shares and Alfred P. West, Jr. selling 66,126 shares, highlighting significant insider selling activity.
• SEI Investments recently raised its quarterly dividend from $0.46 to $0.49, reflecting a dividend yield of 2.2% and an annualized dividend payout of $1.96.

King Luther Capital Management Corp boosted its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 228.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,371 shares of the asset manager's stock after acquiring an additional 73,308 shares during the period. King Luther Capital Management Corp owned about 0.08% of SEI Investments worth $8,180,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SEIC. Boston Trust Walden Corp raised its position in shares of SEI Investments by 1.5% in the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after buying an additional 19,150 shares during the last quarter. FMR LLC raised its position in shares of SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after buying an additional 348,112 shares during the last quarter. Northern Trust Corp raised its position in shares of SEI Investments by 20.9% in the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after buying an additional 184,339 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of SEI Investments by 38.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager's stock valued at $62,358,000 after buying an additional 209,850 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SEI Investments by 0.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 671,672 shares of the asset manager's stock valued at $52,142,000 after buying an additional 3,339 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the transaction, the chairman directly owned 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the transaction, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. The trade was a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 146,126 shares of company stock valued at $12,450,349. 14.60% of the stock is owned by insiders.

SEI Investments Trading Down 0.5%

SEIC traded down $0.48 during trading on Friday, hitting $88.33. 206,037 shares of the company's stock were exchanged, compared to its average volume of 851,137. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The stock has a 50 day moving average price of $88.55 and a 200 day moving average price of $82.37. The firm has a market cap of $10.92 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 1.41 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same period in the previous year, the firm earned $1.05 earnings per share. SEI Investments's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were paid a dividend of $0.49 per share. This is an increase from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.2%. The ex-dividend date was Monday, June 9th. SEI Investments's payout ratio is presently 18.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Raymond James Financial boosted their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $98.00 target price (down from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Morgan Stanley restated an "overweight" rating and issued a $100.00 target price (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Piper Sandler lowered their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Finally, Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $102.00.

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.