SEI Investments (NASDAQ:SEIC) Shares Purchased by Nuveen Asset Management LLC

Nuveen Asset Management LLC lifted its position in SEI Investments (NASDAQ:SEIC - Free Report) by 12.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 283,719 shares of the asset manager's stock after buying an additional 30,496 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.22% of SEI Investments worth $23,401,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its holdings in SEI Investments by 89.9% during the 4th quarter. SG Americas Securities LLC now owns 24,799 shares of the asset manager's stock worth $2,045,000 after purchasing an additional 11,739 shares during the period. DGS Capital Management LLC increased its holdings in SEI Investments by 14.7% during the 4th quarter. DGS Capital Management LLC now owns 13,213 shares of the asset manager's stock worth $1,090,000 after purchasing an additional 1,695 shares during the period. First Citizens Bank & Trust Co. increased its holdings in SEI Investments by 11.9% during the 4th quarter. First Citizens Bank & Trust Co. now owns 9,855 shares of the asset manager's stock worth $813,000 after purchasing an additional 1,047 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in SEI Investments by 24.7% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,189 shares of the asset manager's stock worth $428,000 after purchasing an additional 1,029 shares during the period. Finally, Blue Trust Inc. increased its holdings in SEI Investments by 17.9% during the 4th quarter. Blue Trust Inc. now owns 3,745 shares of the asset manager's stock worth $309,000 after purchasing an additional 568 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SEIC shares. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Keefe, Bruyette & Woods upped their target price on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Piper Sandler upped their target price on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $82.00 target price (up from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.60.

SEI Investments Stock Down 1.2%

Shares of NASDAQ:SEIC traded down $0.98 during midday trading on Thursday, reaching $84.32. The company's stock had a trading volume of 602,541 shares, compared to its average volume of 678,242. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The business has a 50 day moving average price of $77.66 and a 200 day moving average price of $80.21.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same quarter last year, the firm earned $0.99 earnings per share. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.32%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 21.30%.

SEI Investments declared that its Board of Directors has approved a share repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board believes its shares are undervalued.

Insider Transactions at SEI Investments

In related news, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the sale, the insider now directly owns 23,895 shares of the company's stock, valued at $1,992,843. The trade was a 45.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm'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 value of $5,787,296.90. Following the completion of the sale, the chairman now directly owns 7,160,080 shares in the company, valued at approximately $568,868,356. This trade represents a 1.01% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 170,214 shares of company stock valued at $13,925,963. 14.60% of the stock is currently owned by insiders.

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.