Amalgamated Bank Sells 2,692 Shares of SEI Investments Company (NASDAQ:SEIC)

Amalgamated Bank cut its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,375 shares of the asset manager's stock after selling 2,692 shares during the period. Amalgamated Bank's holdings in SEI Investments were worth $3,600,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ashton Thomas Securities LLC grew its position in SEI Investments by 2.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after buying an additional 145 shares in the last quarter. Parallel Advisors LLC boosted its position in shares of SEI Investments by 0.9% during the 4th quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager's stock valued at $1,424,000 after acquiring an additional 158 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its position in shares of SEI Investments by 3.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager's stock valued at $379,000 after acquiring an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after purchasing an additional 172 shares in the last quarter. Finally, GHE LLC increased its position in shares of SEI Investments by 2.0% in the fourth quarter. GHE LLC now owns 9,126 shares of the asset manager's stock worth $753,000 after purchasing an additional 183 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 66,126 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the completion of the transaction, the chairman directly owned 6,937,582 shares of the company's stock, valued at approximately $584,699,410.96. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the sale, the insider owned 23,895 shares of the company's stock, valued at approximately $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 232,126 shares of company stock worth $19,638,659. 14.60% of the stock is owned by company insiders.

SEI Investments Stock Performance

Shares of SEIC stock traded up $1.14 on Friday, hitting $93.10. 516,585 shares of the company's stock traded hands, compared to its average volume of 742,340. The stock has a market capitalization of $11.59 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.60 and a beta of 0.92. The company's fifty day simple moving average is $84.17 and its 200 day simple moving average is $80.83. SEI Investments Company has a one year low of $62.38 and a one year high of $93.75.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 26.40% and a net margin of 27.77%. The firm had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period last year, the firm earned $0.99 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

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

SEI Investments Increases Dividend

The business 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. The ex-dividend date was Monday, June 9th. This represents a $1.96 annualized dividend and a yield of 2.11%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 21.30%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Piper Sandler boosted their price target on shares of SEI Investments from $79.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Morgan Stanley reissued an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods upped their price objective on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a report on Friday, April 25th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

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.