SEI Investments Company (NASDAQ:SEIC) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 41.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,301 shares of the asset manager's stock after acquiring an additional 6,261 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in SEI Investments were worth $1,654,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Ashton Thomas Securities LLC boosted 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 acquiring an additional 145 shares during the last quarter. Parallel Advisors LLC boosted its position in SEI Investments by 0.9% during the fourth quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager's stock worth $1,424,000 after acquiring an additional 158 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its position in SEI Investments by 3.6% during the fourth quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager's stock worth $379,000 after acquiring an additional 160 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in 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 acquiring an additional 172 shares during the last quarter. Finally, GHE LLC boosted its position in SEI Investments by 2.0% during the fourth quarter. GHE LLC now owns 9,126 shares of the asset manager's stock worth $753,000 after acquiring an additional 183 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 75,000 shares of the firm's stock in a transaction 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 in the company, valued at approximately $600,778,072.24. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction on 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 completion of the sale, the insider now owns 23,895 shares of the company's stock, valued at $1,992,843. This trade represents a 45.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock worth $19,638,659 in the last 90 days. Company insiders own 14.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SEIC. Piper Sandler lifted their target price on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Keefe, Bruyette & Woods lifted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Finally, William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, SEI Investments currently has an average rating of "Moderate Buy" and a consensus price target of $91.20.

SEI Investments Trading Up 0.3%

Shares of SEI Investments stock opened at $89.56 on Monday. The stock has a market cap of $11.15 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 1.59 and a beta of 0.91. The company has a fifty day simple moving average of $82.71 and a 200-day simple moving average of $80.59. SEI Investments Company has a 12-month low of $62.38 and a 12-month high of $90.52.

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

SEI Investments announced that its board has approved a stock buyback program on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board believes its shares are undervalued.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were paid a dividend of $0.49 per share. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a yield of 2.19%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is currently 21.30%.

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.

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