Nuveen LLC Acquires Shares of 275,763 SEI Investments Company $SEIC

Key Points

• Nuveen LLC has acquired 275,763 shares of SEI Investments Company, valued at approximately $21.4 million, representing a 0.22% stake in the firm.
• Insider Mark Andrew Warner sold 5,000 shares worth $443,750, while Chairman Alfred P. West, Jr. sold 66,126 shares for over $5.5 million, indicating significant insider trading activity.
• SEI Investments recently announced a quarterly dividend of $0.49 per share, reflecting an increase from the previous dividend of $0.46, and its annualized dividend yield is currently at 2.2%.

Nuveen LLC bought a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 275,763 shares of the asset manager's stock, valued at approximately $21,407,000. Nuveen LLC owned about 0.22% of SEI Investments at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SEIC. Mariner LLC boosted its holdings in SEI Investments by 5.2% in the fourth quarter. Mariner LLC now owns 8,404 shares of the asset manager's stock valued at $693,000 after acquiring an additional 419 shares during the last quarter. CreativeOne Wealth LLC acquired a new position in SEI Investments in the fourth quarter valued at approximately $242,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in SEI Investments by 47.1% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 26,382 shares of the asset manager's stock valued at $2,176,000 after buying an additional 8,450 shares during the period. MetLife Investment Management LLC lifted its stake in SEI Investments by 8.3% in the fourth quarter. MetLife Investment Management LLC now owns 55,261 shares of the asset manager's stock valued at $4,558,000 after buying an additional 4,219 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in SEI Investments by 35.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,466 shares of the asset manager's stock valued at $533,000 after buying an additional 1,678 shares during the period. 70.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SEIC has been the topic of several recent analyst reports. Piper Sandler dropped their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Oppenheimer boosted their price target on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. William Blair reissued a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Morgan Stanley reissued an "overweight" rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $102.00.

Insider Activity at SEI Investments

In related news, CEO Ryan Hicke sold 35,000 shares of the stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the completion of the sale, the chairman directly owned 6,937,582 shares of the company's stock, valued at $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 181,126 shares of company stock valued at $15,540,849. 14.60% of the stock is owned by insiders.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $2.01 during trading on Friday, reaching $90.15. 451,945 shares of the stock were exchanged, compared to its average volume of 845,720. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96. The stock has a fifty day moving average of $88.94 and a two-hundred day moving average of $82.48. The firm has a market cap of $11.14 billion, a price-to-earnings ratio of 16.91, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95.

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 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 company had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same period in the prior year, the firm earned $1.05 earnings per share. SEI Investments's revenue for the quarter was up 7.8% on a year-over-year basis. Sell-side analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

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

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.