UMB Bank n.a. Sells 27,998 Shares of SEI Investments (NASDAQ:SEIC)

UMB Bank n.a. decreased its holdings in shares of SEI Investments (NASDAQ:SEIC) by 25.4% during the 1st quarter, Holdings Channel reports. The firm owned 82,279 shares of the asset manager’s stock after selling 27,998 shares during the quarter. UMB Bank n.a.’s holdings in SEI Investments were worth $6,387,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC lifted its stake in SEI Investments by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock valued at $212,589,000 after buying an additional 60,307 shares during the period. FMR LLC lifted its position in shares of SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after acquiring an additional 348,112 shares during the period. Bank of New York Mellon Corp boosted its stake in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock worth $96,645,000 after acquiring an additional 46,425 shares in the last quarter. Northern Trust Corp boosted its stake in SEI Investments by 20.9% during the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager’s stock worth $88,104,000 after acquiring an additional 184,339 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in SEI Investments by 38.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager’s stock worth $62,358,000 after purchasing an additional 209,850 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Oppenheimer reiterated an “outperform” rating on shares of SEI Investments in a report on Thursday, April 24th. Keefe, Bruyette & Woods upped their price target on SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research note on Friday, April 25th. William Blair reissued a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Wall Street Zen upgraded SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Finally, Morgan Stanley set a $84.00 target price on SEI Investments and gave the stock an “overweight” rating in a report on Tuesday, June 3rd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, SEI Investments has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 66,126 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the completion of the sale, the chairman now directly owns 6,937,582 shares of the company’s stock, valued at approximately $584,699,410.96. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sanjay Sharma sold 20,000 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total value of $1,668,000.00. Following the completion of the transaction, the insider now directly owns 23,895 shares in the company, valued at approximately $1,992,843. This represents a 45.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 232,126 shares of company stock valued at $19,638,659 in the last three months. 14.60% of the stock is currently owned by insiders.

SEI Investments Stock Performance

Shares of NASDAQ SEIC opened at $85.64 on Monday. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 19.38, a PEG ratio of 1.41 and a beta of 0.91. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The firm’s 50-day simple moving average is $78.69 and its 200 day simple moving average is $80.42.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping the consensus estimate of $1.12 by $0.05. The firm had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 earnings per share. On average, sell-side analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.49 per share. The ex-dividend date is Monday, June 9th. This is a boost from SEI Investments’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.29%. SEI Investments’s dividend payout ratio (DPR) is 21.30%.

SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.

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.