King Luther Capital Management Corp Increases Position in SEI Investments Company (NASDAQ:SEIC)

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 lifted its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 228.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 105,371 shares of the asset manager's stock after buying an additional 73,308 shares during the period. King Luther Capital Management Corp owned about 0.08% of SEI Investments worth $8,180,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SEIC. FMR LLC boosted its position in 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 in the last quarter. Cerity Partners LLC boosted its holdings in shares of SEI Investments by 55.3% during the 4th quarter. Cerity Partners LLC now owns 22,294 shares of the asset manager's stock valued at $1,798,000 after acquiring an additional 7,938 shares in the last quarter. Raymond James Financial Inc. bought a new stake in SEI Investments during the 4th quarter worth $42,548,000. Treasurer of the State of North Carolina increased its holdings in SEI Investments by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 43,937 shares of the asset manager's stock worth $3,624,000 after purchasing an additional 280 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of SEI Investments by 3.6% during the fourth quarter. Sterling Capital Management LLC now owns 23,207 shares of the asset manager's stock valued at $1,914,000 after purchasing an additional 798 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following 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 position. The disclosure for this sale can be found here. Insiders sold a total of 146,126 shares of company stock valued at $12,450,349 over the last quarter. 14.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley reiterated an "overweight" rating and issued a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Oppenheimer upped their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Piper Sandler dropped their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Finally, William Blair reiterated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $102.00.

SEI Investments Stock Up 0.3%

SEIC traded up $0.27 during trading on Thursday, hitting $88.81. 609,022 shares of the company traded hands, compared to its average volume of 855,407. The firm has a market cap of $10.98 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.40 and a beta of 0.95. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The stock's fifty day moving average is $88.48 and its 200 day moving average is $82.33.

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

SEI Investments Increases Dividend

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

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.