Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its holdings in SEI Investments (NASDAQ:SEIC – Get Rating) by 3.0% in Q1, according to the company in its most recent Form 13F filing with the SEC. The institutional investor held 28,480 shares of the asset manager after selling 884 shares during the quarter. The holdings of Mitsubishi UFJ Kokusai Asset Management Co. Ltd. in SEI Investments were worth $1,715,000 at the end of the most recent period.
Several other institutional investors have also increased or reduced their stake in SEIC. Commonwealth Equity Services LLC increased its holdings in SEI Investments by 15.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,727 shares of the asset manager worth $349,000 after acquiring an additional 774 shares last quarter. Duality Advisers LP acquired a new stake in SEI Investments in the fourth quarter worth approximately $295,000. Advisor Group Holdings Inc. increased its position in SEI Investments by 30.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 14,684 shares of the asset manager worth $894,000 after acquiring 3,444 additional shares last quarter. Atria Investments LLC increased its stake in shares of SEI Investments by 4.4% in the fourth quarter. Atria Investments LLC now owns 35,583 shares of the asset manager worth $2,168,000 after buying an additional 1,498 shares in the last quarter. Finally, Congress Wealth Management LLC DE bought a new stock position in SEI Investments in the fourth quarter worth approximately $231,000. Institutional investors and hedge funds own 70.44% of the company’s shares.
SEI investments up 1.8%
SEIC shares opened at $58.11 on Friday. The stock has a 50-day moving average of $54.50 and a 200-day moving average of $56.76. The stock has a market capitalization of $7.87 billion, a P/E ratio of 13.94, a P/E/G ratio of 1.28 and a beta of 0.99. SEI Investments has a 12-month low of $51.07 and a 12-month high of $65.22.
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its quarterly results on Wednesday, July 20. The asset manager reported earnings per share of $0.81 for the quarter, missing the consensus estimate of $0.83 per ($0.02). The company posted revenue of $481.67 million for the quarter, compared to $472.18 million expected by analysts. SEI Investments generated a net margin of 28.53% and a return on equity of 30.81%. The company’s revenue increased by 1.3% compared to the same quarter last year. In the same quarter a year earlier, the company posted earnings of $0.93 per share. On average, research analysts expect SEI Investments to post earnings per share of 3.71 for the current fiscal year.
SEI Investments announced that its Board of Directors approved a stock repurchase plan on Wednesday, June 1 that allows the company to repurchase $200.00 million of outstanding stock. This redemption authorization allows the asset manager to redeem up to 2.5% of its shares through open market purchases. Stock buyback plans are usually an indication that a company’s management believes its stock is undervalued.
SEI Investments increases its dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 22. Investors of record on Monday, June 13 received a dividend of $0.40 per share. This is a boost from SEI Investments’ previous quarterly dividend of $0.37. This represents an annualized dividend of $1.60 and a yield of 2.75%. The ex-dividend date was Friday, June 10. SEI Investments’ dividend payout ratio (DPR) is currently 19.18%.
Insider buying and selling at SEI Investments
In other news from SEI Investments, Executive Vice President Wayne Withrow sold 15,000 shares of the company in a trade that took place on Tuesday August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the sale, the executive vice president now directly owns 38,799 shares of the company, valued at $2,164,208.22. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. In other news from SEI Investments, Executive Vice President Wayne Withrow sold 15,000 shares of the company in a trade that took place on Tuesday August 9th. The stock was sold at an average price of $55.78, for a total value of $836,700.00. Following the sale, the executive vice president now directly owns 38,799 shares of the company, valued at $2,164,208.22. The sale was disclosed in a filing with the SEC, accessible via the SEC’s website. Additionally, insider Dennis McGonigle sold 35,000 shares of the company in a trade that took place on Friday, July 29. The shares were sold at an average price of $55.15, for a total value of $1,930,250.00. Following the completion of the sale, the insider now directly owns 576,663 shares of the company, valued at $31,802,964.45. The disclosure of this sale can be found here. 25.40% of the shares are held by company insiders.
Wall Street analysts predict growth
Several research analysts have recently released SEIC stock reports. StockNews.com upgraded SEI Investments from a “buy” to a “hold” rating in a Friday, July 22 research rating. Keefe, Bruyette & Woods reduced their price target on SEI Investments from $62.00 to $55.00 in a Thursday, July 14 research note. Piper Sandler cut her price target on SEI Investments to $61.00 and set an “outperform” rating for the company in a Wednesday, July 27 research note. Goldman Sachs Group cut its price target on SEI Investments to $58.00 in a research note on Friday, July 22. Finally, William Blair reaffirmed an “mkt perform” rating on SEI Investments shares in a Monday July 25 research note. One equity research analyst has assigned the stock a sell rating, three have assigned a hold rating and two have assigned the stock a buy rating. Based on data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus price target of $60.50.
Company Profile SEI Investments
(Get a rating)
SEI Investments Company is a public asset management holding company. Through its subsidiaries, the Company provides its clients with wealth management, retirement and investment solutions, asset management, asset administration, investment processing outsourcing, financial services and investment advice.
Receive daily news and reviews for SEI Investments – Enter your email address below to receive a concise daily summary of the latest news and analyst notes for SEI Investments and related companies with MarketBeat.com’s FREE daily email newsletter.