Mediolanum International Funds Ltd Acquires 10,465 Shares of SEI Investments (NASDAQ:SEIC)

Mediolanum International Funds Ltd raised its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 50.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,124 shares of the asset manager's stock after acquiring an additional 10,465 shares during the period. Mediolanum International Funds Ltd's holdings in SEI Investments were worth $2,566,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SEIC. FMR LLC increased its stake in SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock valued at $61,241,000 after buying an additional 632,024 shares during the last quarter. Geode Capital Management LLC increased its position in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Portman Square Capital LLP grew its holdings in shares of SEI Investments by 113.1% during the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock valued at $1,436,000 after purchasing an additional 149,840 shares during the last quarter. UMB Bank n.a. bought a new stake in SEI Investments in the fourth quarter valued at approximately $9,096,000. Finally, Verition Fund Management LLC increased its position in shares of SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager's stock valued at $7,687,000 after acquiring an additional 107,222 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SEIC has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Morgan Stanley upped their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company 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 target for the company in a research report on Thursday, January 30th. Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. One 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 company. According to MarketBeat, SEI Investments has a consensus rating of "Hold" and an average price target of $90.00.

SEI Investments Stock Performance

Shares of SEIC stock traded up $0.16 on Wednesday, hitting $86.30. 492,270 shares of the stock traded hands, compared to its average volume of 588,225. The firm's 50-day moving average price is $83.40 and its two-hundred day moving average price is $75.24. The stock has a market capitalization of $11.12 billion, a PE ratio of 19.52, a PEG ratio of 1.48 and a beta of 0.98. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts' consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared 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. This is an increase 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 22.17%.

SEI Investments declared that its board has initiated a stock buyback plan on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board believes its shares are undervalued.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm'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 transaction, the chairman now directly owns 7,371,522 shares in the company, valued at approximately $620,903,298.06. This trade represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have sold 171,194 shares of company stock valued at $14,579,872. Company insiders own 14.30% of the company's stock.

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.