SEI Investments (NASDAQ:SEIC) Shares Purchased by NBC Securities Inc.

NBC Securities Inc. lifted its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 112,275.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,990 shares of the asset manager's stock after acquiring an additional 8,982 shares during the quarter. NBC Securities Inc.'s holdings in SEI Investments were worth $697,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CoreFirst Bank & Trust purchased a new position in shares of SEI Investments during the fourth quarter valued at $31,000. Allworth Financial LP grew its holdings in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of SEI Investments by 156.1% in the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock valued at $42,000 after purchasing an additional 331 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares in the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in shares of SEI Investments in the 4th quarter worth approximately $55,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Stock Up 0.5%

Shares of SEIC traded up $0.43 during mid-day trading on Friday, reaching $85.64. The company had a trading volume of 776,687 shares, compared to its average volume of 720,908. The stock has a 50 day moving average of $78.52 and a two-hundred day moving average of $80.38. The stock has a market capitalization of $10.66 billion, a P/E ratio of 19.38, a PEG ratio of 1.41 and a beta of 0.91. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The firm had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. During the same quarter in the previous year, the business earned $0.99 EPS. SEI Investments's revenue for the quarter was up 7.8% compared to the same quarter last year. On average, sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Monday, June 9th will be given a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 2.29%. This is a boost from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date is Monday, June 9th. SEI Investments's payout ratio is presently 21.30%.

SEI Investments announced that its Board of Directors has authorized a share buyback plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's management believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages recently commented on SEIC. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Morgan Stanley set a $84.00 target price on shares of SEI Investments and gave the company an "overweight" rating in a research report on Tuesday. 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 restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Piper Sandler lifted their price target on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.00.

Insider Buying and Selling

In other news, EVP Michael Peterson sold 50,000 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the completion of the sale, the executive vice president now owns 13,500 shares of the company's stock, valued at $1,137,645. This represents a 78.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $6,433,500.00. Following the sale, the chairman now directly owns 7,003,708 shares in the company, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 232,126 shares of company stock worth $19,638,659. 14.60% of the stock is owned by corporate insiders.

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.