Prudential PLC Has $474,000 Stock Position in SEI Investments Company (NASDAQ:SEIC)

Key Points

• Prudential PLC significantly increased its stake in SEI Investments by 151.5% during the first quarter, owning shares worth $474,000 after the acquisition.
• Insider transactions included Chairman Alfred P. West, Jr. selling 75,000 shares for over $6.4 million, decreasing his ownership by 1.06%.
• SEI Investments recently announced an increase in its quarterly dividend from $0.46 to $0.49, representing a 2.2% yield with a payout ratio of 18.39%.

Prudential PLC increased its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 151.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,109 shares of the asset manager's stock after acquiring an additional 3,680 shares during the quarter. Prudential PLC's holdings in SEI Investments were worth $474,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SEIC. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of SEI Investments by 59.9% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock valued at $974,000 after acquiring an additional 4,701 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of SEI Investments during the first quarter valued at approximately $206,000. LPL Financial LLC increased its holdings in shares of SEI Investments by 6.0% during the first quarter. LPL Financial LLC now owns 93,455 shares of the asset manager's stock valued at $7,255,000 after acquiring an additional 5,291 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of SEI Investments by 41.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager's stock valued at $1,654,000 after acquiring an additional 6,261 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock valued at $103,000 after acquiring an additional 681 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the transaction, the chairman owned 7,003,708 shares of the company's stock, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 146,126 shares of company stock worth $12,450,349. Insiders own 14.60% of the company's stock.

SEI Investments Trading Down 0.7%

Shares of SEI Investments stock opened at $88.19 on Friday. The stock has a fifty day simple moving average of $88.60 and a 200 day simple moving average of $82.39. SEI Investments Company has a 12-month low of $64.66 and a 12-month high of $93.96. The company has a market capitalization of $10.90 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping the consensus estimate 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 analysts' expectations of $550.72 million. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. On average, analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

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

Analysts Set New Price Targets

Several research firms have recently commented on SEIC. Oppenheimer boosted their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. William Blair reiterated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $98.00 price target (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Finally, Piper Sandler decreased their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday, July 24th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $102.00.

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.

Want to see what other hedge funds are holding SEIC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SEI Investments Company (NASDAQ:SEIC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.