Sumitomo Mitsui Trust Group Inc. Purchases 877 Shares of SEI Investments Company (NASDAQ:SEIC)

Sumitomo Mitsui Trust Group Inc. grew its position in shares of SEI Investments Company (NASDAQ:SEIC) by 0.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 220,410 shares of the asset manager’s stock after buying an additional 877 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of SEI Investments worth $17,110,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SEIC. Proficio Capital Partners LLC bought a new stake in SEI Investments during the fourth quarter worth about $993,000. Fisher Asset Management LLC grew its stake in shares of SEI Investments by 4.2% during the fourth quarter. Fisher Asset Management LLC now owns 7,949 shares of the asset manager’s stock valued at $656,000 after purchasing an additional 322 shares during the last quarter. US Bancorp DE grew its stake in shares of SEI Investments by 0.6% during the fourth quarter. US Bancorp DE now owns 36,509 shares of the asset manager’s stock valued at $3,011,000 after purchasing an additional 235 shares during the last quarter. Metis Global Partners LLC grew its stake in shares of SEI Investments by 3.4% during the fourth quarter. Metis Global Partners LLC now owns 6,795 shares of the asset manager’s stock valued at $560,000 after purchasing an additional 226 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of SEI Investments by 0.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock valued at $55,124,000 after purchasing an additional 3,967 shares during the last quarter. 70.59% of the stock is owned by institutional investors.

Insider Activity at SEI Investments

In other news, CEO Ryan Hicke sold 21,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the completion of the sale, the chief executive officer owned 171,260 shares of the company’s stock, valued at $14,276,233.60. This represents a 10.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Peterson sold 50,000 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the sale, the executive vice president directly owned 13,500 shares of the company’s stock, valued at $1,137,645. This represents a 78.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,126 shares of company stock worth $19,638,659 over the last three months. 14.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $100.00 price target (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Wall Street Zen upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Tuesday, May 20th. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a report on Friday, April 25th. William Blair restated a “market perform” rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $79.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

SEI Investments Stock Performance

SEIC opened at $93.10 on Friday. The firm’s fifty day moving average is $84.17 and its two-hundred day moving average is $80.83. The firm has a market cap of $11.59 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.60 and a beta of 0.92. SEI Investments Company has a twelve month low of $62.38 and a twelve month high of $93.75.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period last year, the business posted $0.99 earnings per share. Equities analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has authorized a share repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 5.3% 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 disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were given a dividend of $0.49 per share. This is an increase from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. This represents a $1.96 annualized dividend and a dividend yield of 2.11%. SEI Investments’s dividend payout ratio is currently 21.30%.

SEI Investments Company 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.