Banco Santander S.A. Lowers Holdings in SEI Investments (NASDAQ:SEIC)

Banco Santander S.A. reduced its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 16.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,160 shares of the asset manager's stock after selling 9,540 shares during the quarter. Banco Santander S.A.'s holdings in SEI Investments were worth $3,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in SEI Investments during the 4th quarter valued at $32,161,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of SEI Investments in the first quarter worth $14,172,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in SEI Investments during the fourth quarter valued at $6,990,000. Power Corp of Canada bought a new position in SEI Investments in the fourth quarter valued at about $5,649,000. Finally, Bank of Nova Scotia boosted its position in SEI Investments by 190.9% in the fourth quarter. Bank of Nova Scotia now owns 114,840 shares of the asset manager's stock worth $7,298,000 after purchasing an additional 75,358 shares during the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 48,000 shares of the business's stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $68.09, for a total value of $3,268,320.00. Following the transaction, the chairman now directly owns 7,677,471 shares in the company, valued at $522,759,000.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 48,000 shares of SEI Investments stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $68.09, for a total transaction of $3,268,320.00. Following the sale, the chairman now owns 7,677,471 shares in the company, valued at $522,759,000.39. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director William Doran sold 5,000 shares of the company's stock in a transaction on Monday, June 24th. The stock was sold at an average price of $67.04, for a total transaction of $335,200.00. Following the transaction, the director now owns 656,386 shares of the company's stock, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 123,000 shares of company stock worth $8,406,920. Corporate insiders own 14.30% of the company's stock.

SEI Investments Price Performance

Shares of SEIC stock traded down $1.72 during trading hours on Friday, reaching $65.35. 1,288,301 shares of the company traded hands, compared to its average volume of 602,464. The firm has a 50-day moving average price of $66.47 and a 200 day moving average price of $66.84. The company has a market cap of $8.59 billion, a P/E ratio of 17.86, a P/E/G ratio of 1.30 and a beta of 0.99. SEI Investments has a 12-month low of $52.19 and a 12-month high of $72.54.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.99 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.01. The business had revenue of $511.58 million for the quarter, compared to the consensus estimate of $510.41 million. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. The company's revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.79 earnings per share. Sell-side analysts predict that SEI Investments will post 4.19 EPS for the current year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Monday, June 10th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $1.84 annualized dividend and a yield of 2.82%. This is an increase from SEI Investments's previous quarterly dividend of $0.40. SEI Investments's dividend payout ratio is currently 25.14%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SEIC. Piper Sandler upped their price target on shares of SEI Investments from $69.00 to $72.00 and gave the company a "neutral" rating in a research report on Wednesday, July 10th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $74.00 target price (up from $72.00) on shares of SEI Investments in a report on Thursday, April 25th. Finally, Oppenheimer lifted their price target on shares of SEI Investments from $77.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $71.75.

SEI Investments 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.