Vanguard Group Inc. Lowers Stock Holdings in SEI Investments Company (NASDAQ:SEIC)

Key Points

• Vanguard Group Inc. reduced its stake in SEI Investments Company by 1.2% during the first quarter, owning 11,461,187 shares valued at approximately $889.7 million.
• SEI Investments reported a quarterly earnings per share (EPS) of $1.78, exceeding analysts' expectations, and also announced a dividend increase to $0.49 per share.
• Insider trading activity included significant sales by Chairman Alfred P. West, Jr. and EVP Michael Peterson, with a total of 237,126 shares sold worth over $20 million in the last quarter.

Vanguard Group Inc. lowered its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,461,187 shares of the asset manager's stock after selling 139,086 shares during the quarter. Vanguard Group Inc. owned about 9.21% of SEI Investments worth $889,732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SEIC. iA Global Asset Management Inc. boosted its holdings in SEI Investments by 12.4% in the 1st quarter. iA Global Asset Management Inc. now owns 1,835 shares of the asset manager's stock valued at $142,000 after purchasing an additional 202 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new stake in SEI Investments in the 1st quarter valued at approximately $287,000. Banco Santander S.A. boosted its holdings in SEI Investments by 158.5% in the 1st quarter. Banco Santander S.A. now owns 107,467 shares of the asset manager's stock valued at $8,343,000 after purchasing an additional 65,897 shares in the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund boosted its holdings in SEI Investments by 11.6% in the 1st quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund now owns 9,600 shares of the asset manager's stock valued at $745,000 after purchasing an additional 1,000 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in SEI Investments by 0.7% in the 1st quarter. US Bancorp DE now owns 36,771 shares of the asset manager's stock valued at $2,855,000 after purchasing an additional 262 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SEIC shares. Oppenheimer lifted their price objective on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Raymond James Financial lifted their price target on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a research report on Thursday, July 24th. William Blair reiterated a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Piper Sandler reduced their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research report on Thursday, July 24th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, SEI Investments presently has a consensus rating of "Moderate Buy" and an average target price of $102.00.

SEI Investments Stock Down 0.7%

Shares of SEI Investments stock traded down $0.62 during trading on Friday, hitting $88.19. 750,963 shares of the company were exchanged, compared to its average volume of 878,062. SEI Investments Company has a fifty-two week low of $64.66 and a fifty-two week high of $93.96. The stock has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.38 and a beta of 0.95. The firm has a 50 day moving average price of $88.60 and a 200 day moving average price of $82.39.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. During the same period in the previous year, the firm posted $1.05 EPS. The company's quarterly revenue was up 7.8% compared to the same quarter last year. Analysts predict that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a dividend of $0.49 per share. The ex-dividend date was Monday, June 9th. This represents a $1.96 annualized dividend and a dividend yield of 2.2%. This is an increase from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's payout ratio is presently 18.39%.

Insider Activity at SEI Investments

In related news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider directly owned 1,300 shares in the company, valued at $115,375. The trade was a 79.37% decrease in their position. The sale was disclosed in a document filed 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 stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the transaction, the chairman owned 7,003,708 shares of the company's stock, valued at $600,778,072.24. This represents a 1.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,126 shares of company stock valued at $12,450,349 over the last 90 days. Insiders own 14.60% of the company's stock.

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.