West Coast Financial LLC Sells 56,044 Shares of SEI Investments (NASDAQ:SEIC)

West Coast Financial LLC decreased its position in SEI Investments (NASDAQ:SEIC - Free Report) by 47.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,059 shares of the asset manager's stock after selling 56,044 shares during the period. West Coast Financial LLC's holdings in SEI Investments were worth $4,818,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. CoreFirst Bank & Trust bought a new stake in SEI Investments in the 4th quarter valued at approximately $31,000. Allworth Financial LP boosted its holdings in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Versant Capital Management Inc boosted its holdings in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the last quarter. First Horizon Advisors Inc. lifted its position in SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after buying an additional 117 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new position in shares of SEI Investments in the 4th quarter valued at about $55,000. Institutional investors own 70.59% of the company's stock.

Insider Buying and Selling

In other SEI Investments news, insider Sanjay Sharma sold 20,000 shares of the company'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 owns 23,895 shares of the company's stock, valued at approximately $1,992,843. This represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ryan Hicke sold 21,000 shares of SEI Investments stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the completion of the sale, the chief executive officer now owns 171,260 shares of the company's stock, valued at $14,276,233.60. This represents 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 worth $19,638,659 in the last ninety days. 14.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SEIC shares. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday, April 25th. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Piper Sandler raised their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Finally, Morgan Stanley set a $84.00 price target on SEI Investments and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

SEI Investments Stock Down 1.3%

Shares of SEIC traded down $1.11 during mid-day trading on Monday, hitting $84.53. 601,562 shares of the company's stock were exchanged, compared to its average volume of 721,422. The stock's 50-day simple moving average is $78.69 and its 200-day simple moving average is $80.42. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The firm has a market cap of $10.52 billion, a price-to-earnings ratio of 19.12, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same quarter last year, the business posted $0.99 EPS. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has authorized a stock buyback program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.32%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is 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.