Korea Investment CORP Sells 74,800 Shares of SEI Investments Company $SEIC

Key Points

• Korea Investment CORP has reduced its stake in SEI Investments Company by 39.5%, selling 74,800 shares during the first quarter to now hold 114,684 shares valued at approximately $8.9 million.
• Institutional investors currently own 70.59% of SEI Investments stock, with several hedge funds increasing their holdings significantly during the same quarter.
• SEI Investments recently announced a dividend increase to $0.49 per share, up from $0.46, representing a yield of 2.2% and a payout ratio of 18.39%.

Korea Investment CORP trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 39.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 114,684 shares of the asset manager's stock after selling 74,800 shares during the period. Korea Investment CORP owned 0.09% of SEI Investments worth $8,903,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SEIC. Foyston Gordon & Payne Inc grew its position in shares of SEI Investments by 18.4% in the 1st quarter. Foyston Gordon & Payne Inc now owns 141,742 shares of the asset manager's stock valued at $11,003,000 after acquiring an additional 22,019 shares during the period. Raymond James Financial Inc. grew its holdings in SEI Investments by 3.2% during the first quarter. Raymond James Financial Inc. now owns 532,195 shares of the asset manager's stock worth $41,314,000 after purchasing an additional 16,337 shares during the period. Alliance Wealth Advisors LLC UT increased its position in SEI Investments by 39.3% during the first quarter. Alliance Wealth Advisors LLC UT now owns 3,647 shares of the asset manager's stock worth $283,000 after buying an additional 1,029 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in SEI Investments by 13.0% in the first quarter. Brandywine Global Investment Management LLC now owns 76,723 shares of the asset manager's stock valued at $5,956,000 after buying an additional 8,843 shares during the period. Finally, Element Capital Management LLC bought a new position in shares of SEI Investments during the 1st quarter worth approximately $2,703,000. Institutional investors and hedge funds own 70.59% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SEIC shares. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Raymond James Financial raised their target price on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Piper Sandler decreased their price target 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, Morgan Stanley restated an "overweight" rating and set a $100.00 price objective (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $102.00.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded down $1.23 during midday trading on Thursday, reaching $89.29. The company's stock had a trading volume of 114,806 shares, compared to its average volume of 835,604. The company has a market cap of $11.04 billion, a P/E ratio of 16.76, a P/E/G ratio of 1.40 and a beta of 0.95. The business's 50 day moving average price is $89.48 and its two-hundred day moving average price is $82.59. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96.

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

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares of the company's stock, valued at $115,375. This trade represents a 79.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the transaction, the chief executive officer owned 171,260 shares of the company's stock, valued at $15,122,258. The trade was a 16.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.