SEI Investments (NASDAQ:SEIC) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its position in SEI Investments (NASDAQ:SEIC - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 82,279 shares of the asset manager's stock after selling 27,998 shares during the period. UMB Bank n.a. owned about 0.06% of SEI Investments worth $6,387,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SEIC. Geode Capital Management LLC boosted its position in SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock worth $212,589,000 after acquiring an additional 60,307 shares during the last quarter. FMR LLC lifted its holdings in SEI Investments by 39.3% in the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after acquiring an additional 348,112 shares during the last quarter. Bank of New York Mellon Corp lifted its position in SEI Investments by 4.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after buying an additional 46,425 shares during the last quarter. Northern Trust Corp lifted its position in SEI Investments by 20.9% in the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after buying an additional 184,339 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in SEI Investments by 38.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager's stock worth $62,358,000 after buying an additional 209,850 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Sanjay Sharma sold 20,000 shares of SEI Investments 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 transaction, the insider now directly owns 23,895 shares of the company's stock, valued at approximately $1,992,843. The trade was a 45.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the company's stock in a transaction on 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 completion of the sale, the chairman now directly owns 7,003,708 shares in the company, valued at $600,778,072.24. This trade represents a 1.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 232,126 shares of company stock valued at $19,638,659 over the last three months. 14.30% of the stock is currently owned by company insiders.

SEI Investments Stock Performance

NASDAQ SEIC traded up $1.05 during trading hours on Thursday, hitting $84.18. The company had a trading volume of 731,852 shares, compared to its average volume of 723,250. The business has a 50 day moving average of $79.32 and a 200-day moving average of $80.49. The company has a market cap of $10.48 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

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

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

SEI Investments Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th will be issued a $0.49 dividend. The ex-dividend date is Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 21.30%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price target 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. Wall Street Zen upgraded shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Keefe, Bruyette & Woods boosted their target price 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. Finally, Morgan Stanley set a $84.00 price target on SEI Investments and gave the company an "overweight" rating in a research note 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $88.00.

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.