SEI Investments Company (NASDAQ:SEIC) Shares Sold by Vestcor Inc

Vestcor Inc lowered its stake in SEI Investments Company (NASDAQ:SEIC - Free Report) by 4.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 176,788 shares of the asset manager's stock after selling 8,164 shares during the period. Vestcor Inc owned approximately 0.14% of SEI Investments worth $13,724,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in SEIC. Federated Hermes Inc. boosted its stake in SEI Investments by 18.0% in the first quarter. Federated Hermes Inc. now owns 10,854 shares of the asset manager's stock valued at $843,000 after acquiring an additional 1,657 shares during the last quarter. Picton Mahoney Asset Management bought a new position in SEI Investments in the first quarter valued at $1,125,000. Mackenzie Financial Corp grew its position in SEI Investments by 24.2% in the first quarter. Mackenzie Financial Corp now owns 12,623 shares of the asset manager's stock valued at $980,000 after purchasing an additional 2,457 shares in the last quarter. LPL Financial LLC grew its position in shares of SEI Investments by 6.0% in the 1st quarter. LPL Financial LLC now owns 93,455 shares of the asset manager's stock valued at $7,255,000 after acquiring an additional 5,291 shares during the period. Finally, TD Asset Management Inc grew its position in shares of SEI Investments by 4.0% in the 1st quarter. TD Asset Management Inc now owns 144,964 shares of the asset manager's stock valued at $11,254,000 after acquiring an additional 5,590 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, CEO Ryan Hicke sold 21,000 shares of the firm's stock in a transaction 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 transaction, the chief executive officer owned 171,260 shares in the company, valued at approximately $14,276,233.60. This trade represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider owned 1,300 shares in the company, valued at approximately $115,375. This represents a 79.37% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 237,126 shares of company stock worth $20,082,409. 14.60% of the stock is currently owned by insiders.

SEI Investments Trading Down 1.9%

Shares of SEIC traded down $1.67 during trading hours on Friday, reaching $86.45. 972,185 shares of the company traded hands, compared to its average volume of 941,658. SEI Investments Company has a 12-month low of $62.38 and a 12-month high of $93.96. The stock's fifty day moving average price is $88.02 and its 200 day moving average price is $82.10. The firm has a market cap of $10.69 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.40 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The business had revenue of $559.60 million during the quarter, compared to analyst estimates of $550.72 million. During the same period in the prior year, the firm posted $1.05 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. On average, research analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were paid a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date of this dividend was Monday, June 9th. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is 18.39%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Morgan Stanley reissued an "overweight" rating and issued a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Raymond James Financial raised their price objective on shares of SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Piper Sandler reduced their price objective on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating for the company in a research note on Thursday, July 24th. Finally, Oppenheimer upped their price objective on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Three research analysts have rated the stock with a hold rating and four have given 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 target price of $102.00.

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.