US Bancorp DE Increases Holdings in SEI Investments (NASDAQ:SEIC)

US Bancorp DE lifted its position in shares of SEI Investments (NASDAQ:SEIC) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 36,509 shares of the asset manager’s stock after purchasing an additional 235 shares during the quarter. US Bancorp DE’s holdings in SEI Investments were worth $3,011,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Allworth Financial LP increased its stake in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the period. First Horizon Advisors Inc. increased its stake in SEI Investments by 101.3% in the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after purchasing an additional 232 shares during the period. Point72 DIFC Ltd purchased a new position in SEI Investments in the 3rd quarter worth approximately $45,000. Principal Securities Inc. increased its stake in SEI Investments by 13.3% in the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after purchasing an additional 155 shares during the period. Finally, Global Retirement Partners LLC increased its stake in SEI Investments by 13.2% in the 4th quarter. Global Retirement Partners LLC now owns 1,450 shares of the asset manager’s stock worth $120,000 after purchasing an additional 169 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Down 1.2 %

NASDAQ SEIC opened at $75.98 on Friday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The firm has a market capitalization of $9.65 billion, a PE ratio of 17.19, a P/E/G ratio of 1.41 and a beta of 0.98. The stock’s 50 day moving average is $82.43 and its 200 day moving average is $77.40.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, research analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were given a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. This represents a dividend yield of 1.1%. SEI Investments’s payout ratio is currently 22.17%.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 52,042 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the sale, the chairman now directly owns 7,232,922 shares of the company’s stock, valued at approximately $616,461,942.06. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now directly owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 224,042 shares of company stock worth $18,696,952 over the last ninety days. 14.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SEIC has been the topic of a number of analyst reports. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Piper Sandler boosted their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Finally, Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $90.00.

SEI Investments 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.