SEI Investments (NASDAQ:SEIC) Shares Sold by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lessened its holdings in SEI Investments (NASDAQ:SEICGet Rating) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 28,480 shares of the asset manager’s stock after selling 884 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in SEI Investments were worth $1,715,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SEIC. Commonwealth Equity Services LLC boosted 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’s stock worth $349,000 after acquiring an additional 774 shares in the last quarter. Duality Advisers LP acquired a new stake in SEI Investments in the fourth quarter worth about $295,000. Advisor Group Holdings Inc. boosted its holdings in SEI Investments by 30.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 14,684 shares of the asset manager’s stock worth $894,000 after acquiring an additional 3,444 shares in the last quarter. Atria Investments LLC raised 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’s stock worth $2,168,000 after purchasing an additional 1,498 shares during the last quarter. Finally, Congress Wealth Management LLC DE purchased a new position in shares of SEI Investments in the fourth quarter worth about $231,000. Institutional investors and hedge funds own 70.44% of the company’s stock.

SEI Investments Trading Up 1.8 %

Shares of SEIC stock 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 cap 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 twelve month low of $51.07 and a twelve month high of $65.22.

SEI Investments (NASDAQ:SEICGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The asset manager reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.83 by ($0.02). The company had revenue of $481.67 million for the quarter, compared to analysts’ expectations of $472.18 million. SEI Investments had a net margin of 28.53% and a return on equity of 30.81%. The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.93 earnings per share. On average, research analysts predict that SEI Investments will post 3.71 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a stock repurchase plan on Wednesday, June 1st that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 2.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 22nd. Investors of record on Monday, June 13th were given a dividend of $0.40 per share. This is a boost from SEI Investments’s previous quarterly dividend of $0.37. This represents a $1.60 annualized dividend and a yield of 2.75%. The ex-dividend date was Friday, June 10th. SEI Investments’s dividend payout ratio (DPR) is currently 19.18%.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Wayne Withrow sold 15,000 shares of the firm’s stock in a transaction that occurred 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’s stock, valued at $2,164,208.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other SEI Investments news, EVP Wayne Withrow sold 15,000 shares of the firm’s stock in a transaction that occurred 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’s stock, valued at $2,164,208.22. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dennis Mcgonigle sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. 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 in the company, valued at $31,802,964.45. The disclosure for this sale can be found here. 25.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SEIC shares. StockNews.com cut SEI Investments from a “buy” rating to a “hold” rating in a research note on Friday, July 22nd. Keefe, Bruyette & Woods reduced their price objective on SEI Investments from $62.00 to $55.00 in a research note on Thursday, July 14th. Piper Sandler reduced their price objective on SEI Investments to $61.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. The Goldman Sachs Group reduced their price objective on SEI Investments to $58.00 in a research note on Friday, July 22nd. Finally, William Blair restated a “mkt perform” rating on shares of SEI Investments in a research note on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, SEI Investments has an average rating of “Hold” and a consensus price target of $60.50.

SEI Investments Company Profile

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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.

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