First Citizens Bank & Trust Co. Has $813,000 Position in SEI Investments (NASDAQ:SEIC)

First Citizens Bank & Trust Co. increased its position in shares of SEI Investments (NASDAQ:SEIC) by 11.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,855 shares of the asset manager’s stock after acquiring an additional 1,047 shares during the period. First Citizens Bank & Trust Co.’s holdings in SEI Investments were worth $813,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SEIC. Bank of Montreal Can raised its holdings in shares of SEI Investments by 4.6% during the 2nd quarter. Bank of Montreal Can now owns 125,035 shares of the asset manager’s stock worth $8,239,000 after buying an additional 5,445 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in SEI Investments by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock worth $1,386,000 after acquiring an additional 8,094 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of SEI Investments by 12.6% in the second quarter. AQR Capital Management LLC now owns 367,089 shares of the asset manager’s stock worth $23,655,000 after acquiring an additional 41,108 shares during the last quarter. MBB Public Markets I LLC acquired a new stake in shares of SEI Investments in the 2nd quarter valued at approximately $614,000. Finally, Mackenzie Financial Corp grew its holdings in shares of SEI Investments by 29.4% during the 2nd quarter. Mackenzie Financial Corp now owns 11,848 shares of the asset manager’s stock valued at $766,000 after purchasing an additional 2,689 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Insider Transactions at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 10,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $514,410. The trade was a 60.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carmen Romeo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total value of $398,200.00. Following the transaction, the director now owns 1,577,652 shares in the company, valued at $125,644,205.28. The trade was a 0.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 186,194 shares of company stock worth $15,769,472. Company insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC opened at $83.45 on Tuesday. The business has a 50-day moving average of $82.78 and a 200-day moving average of $74.42. The company has a market capitalization of $10.76 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.44 and a beta of 0.98. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

SEI Investments announced that its board has approved a share repurchase program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its stock is undervalued.

SEI Investments Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have weighed in on SEIC shares. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research report on Friday, December 20th. Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley upped their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Finally, Piper Sandler lifted their price target on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and a consensus price target 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.