KBC Group NV Acquires 1,495 Shares of SEI Investments (NASDAQ:SEIC)

KBC Group NV lifted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 367,303 shares of the asset manager’s stock after purchasing an additional 1,495 shares during the quarter. KBC Group NV owned 0.28% of SEI Investments worth $30,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CHURCHILL MANAGEMENT Corp bought a new position in SEI Investments in the fourth quarter valued at approximately $1,818,000. JPMorgan Chase & Co. lifted its position in SEI Investments by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager’s stock valued at $35,143,000 after acquiring an additional 60,824 shares in the last quarter. BTS Asset Management Inc. acquired a new position in SEI Investments in the 4th quarter worth $253,000. Quantinno Capital Management LP raised its stake in shares of SEI Investments by 56.7% in the 3rd quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock valued at $1,217,000 after purchasing an additional 6,364 shares during the period. Finally, Portfolio Design Labs LLC bought a new stake in shares of SEI Investments in the third quarter valued at about $1,701,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 94,158 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $85.73, for a total value of $8,072,165.34. Following the sale, the chairman now owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. This represents a 1.28 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael Peterson sold 10,000 shares of SEI Investments stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.14, for a total transaction 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. This trade represents a 60.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 186,194 shares of company stock valued at $15,769,472 over the last three months. Insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SEIC. Oppenheimer lifted their target price on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley boosted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. 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. Finally, Piper Sandler boosted their price target on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $86.75.

SEI Investments Trading Up 1.1 %

NASDAQ:SEIC opened at $84.39 on Wednesday. The stock has a market capitalization of $10.88 billion, a PE ratio of 20.38, a P/E/G 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. The firm has a fifty day simple moving average of $82.88 and a 200 day simple moving average of $74.54.

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

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. 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 is currently 23.67%.

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.