American International Group Inc. Has $8.59 Million Stake in SEI Investments (NASDAQ:SEIC)

American International Group Inc. decreased its position in shares of SEI Investments (NASDAQ:SEIC) by 4.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,090 shares of the asset manager’s stock after selling 6,644 shares during the quarter. American International Group Inc. owned approximately 0.10% of SEI Investments worth $8,585,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. VisionPoint Advisory Group LLC lifted its holdings in SEI Investments by 67.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock worth $31,000 after buying an additional 206 shares during the period. TFO Wealth Partners LLC lifted its holdings in SEI Investments by 6,277.8% during the 4th quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock worth $36,000 after buying an additional 565 shares during the period. Evolution Advisers Inc. acquired a new position in SEI Investments during the 4th quarter worth about $55,000. Neo Ivy Capital Management acquired a new position in SEI Investments during the 4th quarter worth about $61,000. Finally, Principal Securities Inc. acquired a new position in SEI Investments during the 4th quarter worth about $66,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $65.76 on Thursday. SEI Investments has a 1 year low of $52.19 and a 1 year high of $72.54. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of 17.97, a P/E/G ratio of 1.30 and a beta of 1.02. The business’s 50-day moving average is $66.95 and its 200-day moving average is $66.26.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, April 24th. The asset manager reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $0.01. SEI Investments had a return on equity of 22.91% and a net margin of 24.80%. The business had revenue of $511.58 million during the quarter, compared to analyst estimates of $510.41 million. During the same period in the previous year, the company posted $0.79 EPS. The firm’s revenue was up 9.1% compared to the same quarter last year. Analysts anticipate that SEI Investments will post 4.14 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 given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 2.80%. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, June 10th. SEI Investments’s payout ratio is presently 25.14%.

Wall Street Analyst Weigh In

Several research analysts have commented on SEIC shares. Oppenheimer lifted their target price on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, March 2nd. Piper Sandler dropped their price objective on SEI Investments from $72.00 to $69.00 and set a “neutral” rating on the stock in a research note on Thursday, April 25th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $74.00 price objective (up from $72.00) on shares of SEI Investments in a research note on Thursday, April 25th. 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $71.00.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the completion of the sale, the chairman now directly owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other SEI Investments news, Chairman Alfred P. West, Jr. sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the sale, the chairman now directly owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Alfred P. West, Jr. sold 19,363 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $72.14, for a total value of $1,396,846.82. Following the sale, the chairman now directly owns 7,865,471 shares of the company’s stock, valued at $567,415,077.94. The disclosure for this sale can be found here. Insiders sold 287,363 shares of company stock valued at $20,081,067 in the last three months. Corporate 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.