UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stake in SEI Investments (NASDAQ:SEIC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 38.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 756,037 shares of the asset manager's stock after buying an additional 209,850 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.59% of SEI Investments worth $62,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CoreFirst Bank & Trust purchased a new position in SEI Investments in the 4th quarter valued at approximately $31,000. Allworth Financial LP increased its position in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after buying an additional 158 shares in the last quarter. First Horizon Advisors Inc. raised 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 buying an additional 117 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of SEI Investments in the 4th quarter worth about $55,000. Finally, EverSource Wealth Advisors LLC grew its stake in SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after acquiring an additional 172 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Down 0.8%

Shares of NASDAQ:SEIC traded down $0.67 during midday trading on Wednesday, reaching $85.30. The company's stock had a trading volume of 1,055,252 shares, compared to its average volume of 678,391. The business has a 50 day moving average price of $77.47 and a 200 day moving average price of $80.17. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The firm has a market cap of $10.62 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS 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 company had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. During the same quarter in the previous year, the business earned $0.99 EPS. The firm's revenue was up 7.8% on a year-over-year basis. Sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has initiated a stock repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Investors of record on Tuesday, June 17th will be given 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 2.30%. SEI Investments's dividend payout ratio is 21.30%.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Michael Peterson sold 50,000 shares of SEI Investments stock in a transaction dated 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 transaction, the executive vice president now directly owns 13,500 shares in the company, valued at $1,137,645. This represents a 78.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 170,214 shares of company stock valued at $13,925,963 over the last quarter. Company insiders own 14.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on SEIC shares. Keefe, Bruyette & Woods raised their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Oppenheimer reissued 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 research report on Thursday, April 24th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Finally, Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $87.60.

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.