NBC Securities Inc. Buys 8,982 Shares of SEI Investments (NASDAQ:SEIC)

NBC Securities Inc. lifted its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 112,275.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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.

Several other large investors have also modified their holdings of SEIC. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments during the 4th quarter worth $31,000. Allworth Financial LP boosted its stake in shares of 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 boosted its stake in shares of SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of 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 acquiring an additional 117 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in shares of SEI Investments during the 4th quarter worth $55,000. 70.59% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, insider Sanjay Sharma sold 20,000 shares of the 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 directly owns 23,895 shares in the company, valued at approximately $1,992,843. This trade represents a 45.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the firm's stock in a transaction dated 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 transaction, 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 ownership of the stock. 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. Corporate insiders own 14.60% of the company's stock.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded up $0.43 during midday trading on Friday, hitting $85.64. 776,687 shares of the stock were exchanged, compared to its average volume of 721,903. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The business's fifty day simple moving average is $78.69 and its two-hundred day simple moving average is $80.42. The company has a market capitalization of $10.66 billion, a PE ratio of 19.38, a P/E/G ratio of 1.41 and a beta of 0.91.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data 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 return on equity of 25.51% and a net margin of 27.35%. The business had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. During the same period last year, the company earned $0.99 earnings per share. SEI Investments's quarterly revenue was up 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

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

SEI Investments Increases Dividend

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Morgan Stanley set a $84.00 target price on SEI Investments and gave the company an "overweight" rating in a report on Tuesday, June 3rd. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. William Blair restated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Wall Street Zen upgraded SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods increased their target price on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $88.00.

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.