Asset Management One Co. Ltd. Decreases Holdings in SEI Investments (NASDAQ:SEIC)

Asset Management One Co. Ltd. cut its stake in shares of SEI Investments (NASDAQ:SEIC) by 38.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 44,465 shares of the asset manager’s stock after selling 27,377 shares during the period. Asset Management One Co. Ltd.’s holdings in SEI Investments were worth $3,707,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SEIC. Creative Planning raised its stake in SEI Investments by 2.3% during 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 last quarter. Raymond James & Associates increased its stake in shares of SEI Investments by 3.8% in the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock worth $37,672,000 after purchasing an additional 19,846 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of SEI Investments by 13.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 4,368 shares of the asset manager’s stock worth $302,000 after purchasing an additional 513 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of SEI Investments by 9.4% in the 3rd quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager’s stock worth $246,000 after purchasing an additional 306 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of SEI Investments by 6,818.9% in the 3rd 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 in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

SEI Investments Price Performance

NASDAQ:SEIC opened at $82.84 on Thursday. The business’s 50-day simple moving average is $83.37 and its two-hundred day simple moving average is $76.40. The stock has a market cap of $10.68 billion, a PE ratio of 18.74, a P/E/G ratio of 1.41 and a beta of 0.98. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS 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%. Sell-side analysts anticipate that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a dividend of $0.49 per share. This is a positive change 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 dividend yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is presently 22.17%.

Insider Activity

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 stock was sold at an average price of $84.23, for a total transaction of $504,032.32. Following the completion of the transaction, the chairman now owns 7,371,522 shares in the company, valued at $620,903,298.06. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 171,194 shares of company stock worth $14,579,872 over the last 90 days. 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.