Vanguard Group Inc. trimmed its position in SEI Investments Company (NASDAQ:SEIC - Free Report) by 1.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,461,187 shares of the asset manager's stock after selling 139,086 shares during the quarter. Vanguard Group Inc. owned approximately 9.21% of SEI Investments worth $889,732,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in SEI Investments in the fourth quarter valued at approximately $42,548,000. GAMMA Investing LLC raised its stake in SEI Investments by 9,563.5% in the first quarter. GAMMA Investing LLC now owns 470,515 shares of the asset manager's stock valued at $36,526,000 after purchasing an additional 465,646 shares in the last quarter. FMR LLC raised its stake 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 purchasing an additional 348,112 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super purchased a new stake in SEI Investments in the fourth quarter valued at approximately $23,710,000. Finally, Caisse DE Depot ET Placement DU Quebec raised its stake in SEI Investments by 108.7% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 532,336 shares of the asset manager's stock valued at $43,907,000 after purchasing an additional 277,252 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Price Performance
SEI Investments stock traded down $0.69 during mid-day trading on Friday, reaching $88.13. The stock had a trading volume of 294,657 shares, compared to its average volume of 851,694. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 16.53, a PEG ratio of 1.41 and a beta of 0.95. The company has a 50-day moving average price of $88.55 and a two-hundred day moving average price of $82.37. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96.
SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The company had revenue of $559.60 million for the quarter, compared to analysts' expectations of $550.72 million. During the same quarter in the previous year, the business posted $1.05 EPS. SEI Investments's revenue was up 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.
SEI Investments Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a $0.49 dividend. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a yield of 2.2%. SEI Investments's payout ratio is presently 18.39%.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Raymond James Financial lifted their price target on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 price target (down from $100.00) on shares of SEI Investments in a research note on Thursday, July 24th. Piper Sandler decreased their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research note on Thursday, July 24th. Finally, Oppenheimer lifted their price target on shares of SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, SEI Investments has an average rating of "Moderate Buy" and a consensus price target of $102.00.
Check Out Our Latest Stock Analysis on SEI Investments
Insider Transactions at SEI Investments
In other SEI Investments news, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chairman owned 7,003,708 shares of the company's stock, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's 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 approximately $115,375. The trade was a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 146,126 shares of company stock valued at $12,450,349. 14.60% of the stock is owned by insiders.
About SEI Investments
(
Free Report)
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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