KBC Group NV Sells 94,097 Shares of SEI Investments Company (NASDAQ:SEIC)

KBC Group NV trimmed its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 25.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 273,206 shares of the asset manager's stock after selling 94,097 shares during the quarter. KBC Group NV owned about 0.22% of SEI Investments worth $21,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. lifted its position in SEI Investments by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 220,410 shares of the asset manager's stock valued at $17,110,000 after acquiring an additional 877 shares in the last quarter. Achmea Investment Management B.V. raised its position in SEI Investments by 86.6% in the 1st quarter. Achmea Investment Management B.V. now owns 154,627 shares of the asset manager's stock worth $12,003,000 after buying an additional 71,767 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of SEI Investments by 1.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 102,105 shares of the asset manager's stock valued at $7,926,000 after acquiring an additional 1,020 shares during the last quarter. Bessemer Group Inc. lifted its position in SEI Investments by 123.0% during the first quarter. Bessemer Group Inc. now owns 4,284 shares of the asset manager's stock valued at $332,000 after purchasing an additional 2,363 shares during the period. Finally, Lecap Asset Management Ltd. boosted its holdings in SEI Investments by 8.8% in the first quarter. Lecap Asset Management Ltd. now owns 6,338 shares of the asset manager's stock worth $492,000 after purchasing an additional 515 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Down 0.2%

SEIC stock traded down $0.18 during midday trading on Wednesday, hitting $91.32. The company's stock had a trading volume of 136,422 shares, compared to its average volume of 738,610. The company has a 50 day moving average of $83.51 and a two-hundred day moving average of $80.70. SEI Investments Company has a 12 month low of $62.38 and a 12 month high of $93.75. The firm has a market capitalization of $11.37 billion, a price-to-earnings ratio of 19.83, a price-to-earnings-growth ratio of 1.59 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.99 EPS. On average, analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company 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. This represents a $1.96 annualized dividend and a dividend yield of 2.15%. 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. SEI Investments's dividend payout ratio (DPR) is 21.30%.

SEI Investments announced that its board has authorized a stock buyback plan on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts recently commented on the company. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 target price (up from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Finally, Keefe, Bruyette & Woods lifted 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.60.

Insider Activity

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction on 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 sale, the insider owned 23,895 shares in the company, valued at $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the sale, the chairman directly owned 7,003,708 shares of the company's stock, valued at $600,778,072.24. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock valued at $19,638,659 in the last quarter. 14.30% of the stock is currently owned by company insiders.

SEI Investments 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.