Principal Financial Group Inc. Sells 4,156 Shares of SEI Investments (NASDAQ:SEIC)

Principal Financial Group Inc. reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 234,072 shares of the asset manager’s stock after selling 4,156 shares during the quarter. Principal Financial Group Inc. owned about 0.18% of SEI Investments worth $19,306,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Creative Planning increased its stake in shares of SEI Investments by 2.3% in the 3rd quarter. Creative Planning now owns 8,086 shares of the asset manager’s stock valued at $559,000 after buying an additional 182 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in SEI Investments by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,368 shares of the asset manager’s stock valued at $302,000 after acquiring an additional 513 shares during the last quarter. Private Advisor Group LLC boosted its holdings in SEI Investments by 9.4% in the third quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager’s stock valued at $246,000 after acquiring an additional 306 shares during the last quarter. International Assets Investment Management LLC increased its position in SEI Investments by 6,818.9% in 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. Finally, Mediolanum International Funds Ltd raised its holdings in SEI Investments by 3.1% during the 3rd quarter. Mediolanum International Funds Ltd now owns 20,659 shares of the asset manager’s stock worth $1,429,000 after purchasing an additional 625 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $84.23, for a total transaction of $504,032.32. Following the sale, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 171,194 shares of company stock worth $14,579,872. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Performance

SEIC opened at $80.02 on Tuesday. The firm’s fifty day moving average is $83.06 and its two-hundred day moving average is $76.84. The firm has a market cap of $10.32 billion, a PE ratio of 18.10, a price-to-earnings-growth ratio of 1.41 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) last issued 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 forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, December 27th. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is 22.17%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer upped their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Finally, Piper Sandler lifted their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $90.00.

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.