Allianz Asset Management GmbH Sells 36,748 Shares of SEI Investments Company (NASDAQ:SEIC)

Key Points

• Allianz Asset Management GmbH decreased its stake in SEI Investments by 15.9%, holding approximately 193,753 shares valued at $15 million as of the end of the first quarter.
• SEI Investments reported a quarterly earnings per share of $1.78, significantly exceeding analysts' expectations, with a net margin of 31.25% and revenue of $559.60 million.
• The company increased its quarterly dividend to $0.49 per share, reflecting a 2.18% yield, up from the previous dividend of $0.46.

Allianz Asset Management GmbH reduced its position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 193,753 shares of the asset manager's stock after selling 36,748 shares during the quarter. Allianz Asset Management GmbH owned about 0.16% of SEI Investments worth $15,041,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LPL Financial LLC boosted its stake in shares of SEI Investments by 12.2% during the 4th quarter. LPL Financial LLC now owns 88,164 shares of the asset manager's stock worth $7,272,000 after acquiring an additional 9,607 shares in the last quarter. Prudential Financial Inc. boosted its stake in shares of SEI Investments by 318.0% during the 4th quarter. Prudential Financial Inc. now owns 137,183 shares of the asset manager's stock worth $11,315,000 after acquiring an additional 104,367 shares in the last quarter. Elo Mutual Pension Insurance Co bought a new stake in shares of SEI Investments during the 4th quarter worth $1,092,000. Norges Bank bought a new stake in shares of SEI Investments during the 4th quarter worth $48,009,000. Finally, Orion Portfolio Solutions LLC bought a new stake in shares of SEI Investments during the 4th quarter worth $1,155,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.20 during trading hours on Friday, hitting $89.99. The stock had a trading volume of 1,205,396 shares, compared to its average volume of 937,867. The company has a market capitalization of $11.20 billion, a P/E ratio of 16.88, a P/E/G ratio of 1.53 and a beta of 0.92. The firm's 50-day moving average price is $87.68 and its two-hundred day moving average price is $81.83. SEI Investments Company has a 52 week low of $62.38 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. During the same period in the previous year, the company earned $1.05 earnings per share. The company's revenue was up 7.8% compared to the same quarter last year. As a group, analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were issued a dividend of $0.49 per share. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.18%. The ex-dividend date was Monday, June 9th. SEI Investments's dividend payout ratio (DPR) is 21.30%.

Wall Street Analysts Forecast Growth

SEIC has been the subject of several research reports. William Blair reissued a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Raymond James Financial increased their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a report on Thursday. Morgan Stanley restated an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Finally, Piper Sandler reduced their target price on SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $102.00.

Insider Buying and Selling

In other news, CEO Ryan Hicke sold 21,000 shares of SEI Investments stock in a transaction dated 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 transaction, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $14,276,233.60. The trade was a 10.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the transaction, the chairman owned 7,003,708 shares in the company, valued at $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,126 shares of company stock valued at $19,638,659 in the last three months. 14.60% of the stock is currently owned by corporate insiders.

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.