UMB Bank n.a. Buys New Shares in SEI Investments (NASDAQ:SEIC)

UMB Bank n.a. bought a new stake in SEI Investments (NASDAQ:SEIC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 110,277 shares of the asset manager’s stock, valued at approximately $9,096,000. UMB Bank n.a. owned 0.09% of SEI Investments at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SEIC. First Horizon Advisors Inc. lifted its holdings in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock worth $32,000 after buying an additional 232 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock worth $38,000 after buying an additional 500 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in SEI Investments during the 3rd quarter worth about $45,000. Northwestern Mutual Wealth Management Co. lifted its holdings in SEI Investments by 16.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after buying an additional 168 shares during the last quarter. Finally, Quarry LP purchased a new stake in SEI Investments during the 2nd quarter worth about $136,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SEI Investments

In related news, EVP Michael Peterson sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total value of $791,400.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares in the company, valued at approximately $514,410. This represents a 60.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the sale, the chairman now owns 7,284,964 shares of the company’s stock, valued at approximately $624,539,963.72. This represents a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 239,258 shares of company stock worth $19,753,402 in the last ninety days. Insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on SEIC. Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Oppenheimer boosted their price target on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Finally, Piper Sandler boosted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. One 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. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Hold” and an average price target of $86.75.

SEI Investments Stock Up 0.6 %

Shares of SEI Investments stock opened at $83.48 on Monday. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The firm has a market cap of $10.76 billion, a PE ratio of 20.16, a P/E/G ratio of 1.34 and a beta of 0.98. The business’s fifty day moving average is $82.40 and its two-hundred day moving average is $73.64.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the prior year, the company posted $0.87 EPS. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. Equities research analysts anticipate that SEI Investments will post 4.42 EPS for the current year.

SEI Investments announced that its Board of Directors has initiated a share buyback program on Tuesday, October 22nd that allows the company to buyback $400.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a dividend yield of 1.1%. This is an increase from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s dividend payout ratio is presently 23.67%.

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.