Northstar Financial Companies Inc. Buys New Position in SEI Investments (NASDAQ:SEIC)

Northstar Financial Companies Inc. acquired a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,641 shares of the asset manager's stock, valued at approximately $300,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the fourth quarter valued at about $31,000. Allworth Financial LP increased its position in shares of SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after purchasing an additional 158 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after purchasing an additional 117 shares in the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments in the 4th quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC grew its stake in shares of SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after buying an additional 172 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Up 0.2%

NASDAQ SEIC traded up $0.13 on Friday, hitting $84.97. 8,787,075 shares of the company's stock were exchanged, compared to its average volume of 711,724. The stock has a 50-day moving average of $77.81 and a 200-day moving average of $80.23. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of 19.22, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same period in the prior year, the company earned $0.99 EPS. SEI Investments's revenue for the quarter was up 7.8% on a year-over-year basis. As a group, analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be paid a $0.49 dividend. 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 2.31%. The ex-dividend date of this dividend is Monday, June 9th. SEI Investments's dividend payout ratio (DPR) is presently 21.30%.

SEI Investments declared that its Board of Directors has initiated a share buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of analyst reports. Morgan Stanley reissued an "overweight" rating and issued a $82.00 price objective (up previously from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods upped their price objective on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Piper Sandler increased their target price on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $87.60.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. This trade represents a 79.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now directly owns 7,160,080 shares in the company, valued at $568,868,356. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 311,340 shares of company stock valued at $25,932,562. 14.60% of the stock is owned by insiders.

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.