Achmea Investment Management B.V. Grows Stake in SEI Investments Company (NASDAQ:SEIC)

Achmea Investment Management B.V. increased its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 86.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,627 shares of the asset manager's stock after buying an additional 71,767 shares during the period. Achmea Investment Management B.V. owned 0.12% of SEI Investments worth $12,003,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SEIC. Robeco Institutional Asset Management B.V. increased its stake in SEI Investments by 1.0% in the first 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. grew its stake in shares of 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 buying an additional 2,363 shares during the last quarter. Lecap Asset Management Ltd. grew its stake in shares of SEI Investments by 8.8% during the first quarter. Lecap Asset Management Ltd. now owns 6,338 shares of the asset manager's stock valued at $492,000 after buying an additional 515 shares during the last quarter. Legacy Advisors LLC grew its stake in shares of SEI Investments by 24.8% during the first quarter. Legacy Advisors LLC now owns 5,980 shares of the asset manager's stock valued at $464,000 after buying an additional 1,187 shares during the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in shares of SEI Investments by 14.9% during the first quarter. Asset Management One Co. Ltd. now owns 51,077 shares of the asset manager's stock valued at $3,965,000 after buying an additional 6,612 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

SEIC traded up $0.30 on Friday, hitting $89.56. The company had a trading volume of 1,105,407 shares, compared to its average volume of 737,642. SEI Investments Company has a 52-week low of $62.38 and a 52-week high of $90.52. The stock has a fifty day simple moving average of $82.71 and a 200-day simple moving average of $80.63. The firm has a market capitalization of $11.15 billion, a P/E ratio of 19.47, a P/E/G ratio of 1.59 and a beta of 0.91.

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

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 annualized dividend and a dividend yield of 2.19%. This is an increase 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 of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

SEIC has been the topic of a number of recent research reports. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Keefe, Bruyette & Woods raised their price objective on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Piper Sandler increased their target price on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.20.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the sale, the chairman now owns 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the sale, the insider now directly owns 23,895 shares of the company's stock, valued at approximately $1,992,843. The trade was a 45.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,126 shares of company stock valued at $19,638,659 over the last 90 days. Corporate insiders own 14.60% of the company's stock.

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.