SEI Investments Company $SEIC Shares Acquired by Prudential PLC

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 boosted its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 151.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,109 shares of the asset manager's stock after buying 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 institutional investors have also bought and sold shares of the business. Resona Asset Management Co. Ltd. raised its position in shares of SEI Investments by 3.4% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 32,265 shares of the asset manager's stock valued at $2,503,000 after buying an additional 1,046 shares during the period. Taylor Hoffman Capital Management LLC grew its stake in shares of SEI Investments by 2.3% in the first quarter. Taylor Hoffman Capital Management LLC now owns 66,709 shares of the asset manager's stock worth $5,155,000 after acquiring an additional 1,524 shares in the last quarter. Nuveen LLC acquired a new position in shares of SEI Investments in the first quarter worth $21,407,000. Aigen Investment Management LP acquired a new position in shares of SEI Investments in the first quarter worth $216,000. Finally, King Luther Capital Management Corp lifted its position in shares of SEI Investments by 228.6% during the 1st quarter. King Luther Capital Management Corp now owns 105,371 shares of the asset manager's stock worth $8,180,000 after purchasing an additional 73,308 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 171,260 shares in the company, valued at $15,122,258. The trade was a 16.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the transaction, the chairman owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,126 shares of company stock valued at $15,540,849. Insiders own 14.60% of the company's stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $2.3450 on Friday, reaching $90.4850. The company's stock had a trading volume of 116,381 shares, compared to its average volume of 843,529. The stock's 50-day moving average is $88.94 and its two-hundred day moving average is $82.48. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The stock has a market capitalization of $11.19 billion, a P/E ratio of 16.94, a PEG ratio of 1.37 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The business had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same period in the prior year, the company earned $1.05 earnings per share. The business's revenue was up 7.8% compared to the same quarter last year. Equities analysts forecast that SEI Investments Company 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 was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued a $0.49 dividend. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change 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 2.2%. SEI Investments's dividend payout ratio is currently 18.39%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SEIC. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Raymond James Financial boosted their price target on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 price target (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Oppenheimer boosted their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Finally, Piper Sandler reduced their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.