Kingsview Wealth Management LLC Purchases New Position in SEI Investments Company (NASDAQ:SEIC)

Kingsview Wealth Management LLC acquired a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 37,946 shares of the asset manager's stock, valued at approximately $2,946,000.

Several other large investors have also recently modified their holdings of SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments during the 4th quarter worth approximately $31,000. Versant Capital Management Inc increased its stake in shares of SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. raised its stake in shares of SEI Investments by 38.9% during the 1st quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after buying an additional 225 shares during the period. CIBC Private Wealth Group LLC grew its position in shares of SEI Investments by 33.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 943 shares of the asset manager's stock valued at $77,000 after purchasing an additional 238 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in SEI Investments by 104.3% in the 1st quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after buying an additional 681 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Oppenheimer lifted their target price on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $96.00.

SEI Investments Stock Performance

SEI Investments stock traded down $0.41 during midday trading on Friday, reaching $92.82. The stock had a trading volume of 923,126 shares, compared to its average volume of 750,021. The firm's fifty day simple moving average is $87.07 and its 200-day simple moving average is $81.54. The stock has a market capitalization of $11.56 billion, a P/E ratio of 20.18, a price-to-earnings-growth ratio of 1.58 and a beta of 0.92. SEI Investments Company has a 1-year low of $62.38 and a 1-year high of $93.96.

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

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued 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 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's payout ratio is currently 21.30%.

Insider Activity

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction on Wednesday, May 14th. The stock was 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 owned 23,895 shares in the company, valued at $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Peterson sold 50,000 shares of the company's stock in a transaction on 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 directly owned 13,500 shares in the company, valued at approximately $1,137,645. The trade was a 78.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,126 shares of company stock valued at $19,638,659 in the last three months. Corporate insiders own 14.60% of the company's stock.

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.