SEI Investments (NASDAQ:SEIC) Shares Bought by Convergence Investment Partners LLC

Convergence Investment Partners LLC grew its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 54.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,850 shares of the asset manager's stock after acquiring an additional 10,120 shares during the period. Convergence Investment Partners LLC's holdings in SEI Investments were worth $2,380,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SEIC. Creative Planning boosted its position in shares of SEI Investments by 2.3% in the third quarter. Creative Planning now owns 8,086 shares of the asset manager's stock valued at $559,000 after acquiring an additional 182 shares during the period. Raymond James & Associates raised its stake in SEI Investments by 3.8% in the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager's stock worth $37,672,000 after purchasing an additional 19,846 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in SEI Investments by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,368 shares of the asset manager's stock valued at $302,000 after purchasing an additional 513 shares during the period. Private Advisor Group LLC grew its position in shares of SEI Investments by 9.4% during the 3rd quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager's stock worth $246,000 after purchasing an additional 306 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of SEI Investments by 6,818.9% during the third quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager's stock worth $177,000 after purchasing an additional 2,523 shares during the period. Institutional investors own 70.59% of the company's stock.

Analyst Ratings Changes

SEIC has been the subject of several research reports. Piper Sandler increased their target price on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. Morgan Stanley boosted their target price 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. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $90.00.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the company's stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $84.23, for a total value of $504,032.32. Following the completion of the sale, the chairman now directly owns 7,371,522 shares of the company's stock, valued at $620,903,298.06. This represents a 0.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 171,194 shares of company stock valued at $14,579,872 over the last ninety days. 14.30% of the stock is owned by insiders.

SEI Investments Stock Down 2.4 %

Shares of SEIC stock traded down $1.99 during mid-day trading on Friday, reaching $80.25. 488,468 shares of the company's stock traded hands, compared to its average volume of 550,025. The company has a market cap of $10.35 billion, a P/E ratio of 18.16, a P/E/G ratio of 1.42 and a beta of 0.98. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The company's 50-day moving average price is $83.29 and its 200-day moving average price is $76.44.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Equities analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

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 given a dividend of $0.49 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a yield of 1.1%. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is 22.17%.

About SEI Investments

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.