Los Angeles Capital Management LLC Sells 137,320 Shares of SEI Investments Company (NASDAQ:SEIC)

Los Angeles Capital Management LLC lowered its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 42.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 186,416 shares of the asset manager's stock after selling 137,320 shares during the quarter. Los Angeles Capital Management LLC owned 0.15% of SEI Investments worth $14,471,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in SEI Investments by 59.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 12,553 shares of the asset manager's stock valued at $974,000 after purchasing an additional 4,701 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in shares of SEI Investments during the 1st quarter worth $206,000. Wealth Enhancement Advisory Services LLC increased its holdings in SEI Investments by 41.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 21,301 shares of the asset manager's stock worth $1,654,000 after acquiring an additional 6,261 shares during the last quarter. Boston Trust Walden Corp raised its stake in SEI Investments by 1.5% in the 1st quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after acquiring an additional 19,150 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after purchasing an additional 681 shares during the period. 70.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the transaction, the insider owned 23,895 shares in the company, valued at approximately $1,992,843. This represents a 45.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ryan Hicke sold 21,000 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the completion of the transaction, the chief executive officer directly owned 171,260 shares of the company's stock, valued at approximately $14,276,233.60. The trade was a 10.92% decrease in their position. 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 over the last three months. 14.30% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on SEIC shares. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler boosted their target price on SEI Investments from $79.00 to $96.00 and gave the company a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Morgan Stanley reissued an "overweight" rating and set a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.00.

SEI Investments Stock Performance

SEI Investments stock traded down $1.90 during midday trading on Monday, reaching $90.92. The company's stock had a trading volume of 906,561 shares, compared to its average volume of 750,647. The stock's 50 day simple moving average is $87.07 and its 200 day simple moving average is $81.53. SEI Investments Company has a fifty-two week low of $62.38 and a fifty-two week high of $94.00. The firm has a market capitalization of $11.32 billion, a PE ratio of 20.18, a P/E/G ratio of 1.58 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 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 business had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same quarter in the previous year, the business earned $0.99 earnings per share. The business's revenue for the quarter was up 7.8% on a year-over-year basis. Equities analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were issued a $0.49 dividend. 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 2.16%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is currently 21.30%.

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.