UMB Bank n.a. Has $6.39 Million Stake in SEI Investments (NASDAQ:SEIC)

UMB Bank n.a. lowered its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 25.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,279 shares of the asset manager's stock after selling 27,998 shares during the period. UMB Bank n.a. owned approximately 0.06% of SEI Investments worth $6,387,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. First Horizon Advisors Inc. raised its stake in SEI Investments by 25.4% in the fourth 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. Venturi Wealth Management LLC raised its position in shares of SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after buying an additional 144 shares in the last quarter. Ashton Thomas Securities LLC lifted its holdings in shares of SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after acquiring an additional 145 shares during the period. Principal Securities Inc. lifted its holdings in shares of SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after acquiring an additional 155 shares during the period. Finally, Allworth Financial LP boosted its position 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. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Buying and Selling

In related news, CEO Ryan Hicke sold 21,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.36, for a total value of $1,750,560.00. Following the sale, the chief executive officer now directly owns 171,260 shares in the company, valued at $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction that occurred 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 directly owns 23,895 shares of the company's stock, valued at $1,992,843. This represents a 45.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 232,126 shares of company stock valued at $19,638,659 over the last 90 days. 14.60% of the stock is owned by insiders.

SEI Investments Trading Up 0.5%

SEI Investments stock opened at $85.64 on Monday. The stock has a 50-day moving average price of $78.69 and a two-hundred day moving average price of $80.42. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. 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 issued its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $556.76 million. During the same quarter last year, the business earned $0.99 EPS. The firm's quarterly revenue was up 7.8% on a year-over-year basis. As a group, analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has approved a share buyback plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board 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. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is 21.30%.

Wall Street Analyst Weigh In

Several research analysts have commented on SEIC shares. Keefe, Bruyette & Woods boosted their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Morgan Stanley set a $84.00 price objective on SEI Investments and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Piper Sandler boosted their target price on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, William Blair restated a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

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.

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