SEI Investments Company (NASDAQ:SEIC) Position Decreased by Amalgamated Bank

Amalgamated Bank reduced its holdings in SEI Investments Company (NASDAQ:SEIC) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,375 shares of the asset manager’s stock after selling 2,692 shares during the quarter. Amalgamated Bank’s holdings in SEI Investments were worth $3,600,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Sumitomo Mitsui Trust Group Inc. grew its position in SEI Investments by 0.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 220,410 shares of the asset manager’s stock worth $17,110,000 after buying an additional 877 shares during the last quarter. Achmea Investment Management B.V. boosted its stake in shares of SEI Investments by 86.6% during the 1st quarter. Achmea Investment Management B.V. now owns 154,627 shares of the asset manager’s stock worth $12,003,000 after acquiring an additional 71,767 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of SEI Investments by 1.0% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 102,105 shares of the asset manager’s stock worth $7,926,000 after acquiring an additional 1,020 shares during the last quarter. Bessemer Group Inc. raised its position in shares of SEI Investments by 123.0% during the first quarter. Bessemer Group Inc. now owns 4,284 shares of the asset manager’s stock worth $332,000 after purchasing an additional 2,363 shares during the period. Finally, Lecap Asset Management Ltd. raised its position in shares of SEI Investments by 8.8% during the first quarter. Lecap Asset Management Ltd. now owns 6,338 shares of the asset manager’s stock worth $492,000 after purchasing an additional 515 shares during the period. 70.59% of the stock is currently owned by institutional investors.

SEI Investments Price Performance

NASDAQ SEIC opened at $93.10 on Friday. The company has a 50 day simple moving average of $84.17 and a 200-day simple moving average of $80.83. SEI Investments Company has a 52-week low of $62.38 and a 52-week high of $93.75. The firm has a market capitalization of $11.59 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The company had revenue of $551.34 million during the quarter, compared to the consensus estimate of $556.76 million. During the same quarter in the prior year, the firm earned $0.99 EPS. The company’s revenue was up 7.8% compared to the same quarter last year. On average, analysts predict that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments declared that its board has authorized a share repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s management believes its shares are undervalued.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were paid a $0.49 dividend. The ex-dividend date was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a yield of 2.11%. This is an increase from SEI Investments’s previous quarterly dividend of $0.46. SEI Investments’s payout ratio is 21.30%.

Insider Transactions at SEI Investments

In other news, EVP Michael Peterson sold 50,000 shares of SEI Investments stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the completion of the sale, the executive vice president directly owned 13,500 shares in the company, valued at $1,137,645. The trade was a 78.74% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the completion of the transaction, the chairman owned 7,003,708 shares in the company, valued at $600,778,072.24. This represents a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 232,126 shares of company stock valued at $19,638,659. 14.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on SEIC. Morgan Stanley reiterated an “overweight” rating and issued a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. William Blair reiterated a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Oppenheimer boosted their price target on shares of SEI Investments from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Monday. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, SEI Investments presently has an average rating of “Moderate Buy” and an average price target of $95.00.

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.