110,277 Shares in SEI Investments (NASDAQ:SEIC) Purchased by UMB Bank n.a.

UMB Bank n.a. purchased a new position in SEI Investments (NASDAQ:SEIC) in the fourth quarter, Holdings Channel reports. The fund purchased 110,277 shares of the asset manager’s stock, valued at approximately $9,096,000.

A number of other hedge funds have also bought and sold shares of the company. Thrive Wealth Management LLC boosted its stake in SEI Investments by 0.9% in the fourth quarter. Thrive Wealth Management LLC now owns 42,307 shares of the asset manager’s stock valued at $3,489,000 after acquiring an additional 362 shares during the period. BTS Asset Management Inc. acquired a new position in SEI Investments in the fourth quarter valued at approximately $253,000. TrueWealth Advisors LLC acquired a new position in SEI Investments in the fourth quarter valued at approximately $218,000. Grant GrossMendelsohn LLC acquired a new position in SEI Investments in the fourth quarter valued at approximately $216,000. Finally, Procyon Advisors LLC boosted its stake in SEI Investments by 0.5% in the fourth quarter. Procyon Advisors LLC now owns 35,602 shares of the asset manager’s stock valued at $2,936,000 after acquiring an additional 187 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $83.48 on Monday. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 1.34 and a beta of 0.98. The stock’s 50 day moving average price is $82.40 and its 200 day moving average price is $73.64.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to analysts’ expectations of $534.08 million. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The firm’s revenue was up 12.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. On average, sell-side analysts expect that SEI Investments will post 4.42 EPS for the current year.

SEI Investments declared that its board has approved a stock repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were issued a $0.49 dividend. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s dividend payout ratio is currently 23.67%.

Insider Buying and Selling at SEI Investments

In other news, Director Carl Guarino sold 7,564 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $75.77, for a total transaction of $573,124.28. Following the transaction, the director now directly owns 13,867 shares in the company, valued at $1,050,702.59. The trade was a 35.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the transaction, the chairman now owns 7,232,922 shares in the company, valued at approximately $616,461,942.06. This represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 239,258 shares of company stock valued at $19,753,402. Corporate insiders own 14.30% of the company’s stock.

Wall Street Analyst Weigh In

SEIC has been the subject of several analyst reports. Morgan Stanley boosted their price objective on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods boosted their price objective on SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Piper Sandler boosted their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Finally, Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of “Hold” and a consensus target price of $86.75.

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.