Bank of New York Mellon Corp Reduces Holdings in SEI Investments Company $SEIC

Bank of New York Mellon Corp decreased its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 2.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 990,651 shares of the asset manager's stock after selling 23,260 shares during the period. Bank of New York Mellon Corp owned approximately 0.81% of SEI Investments worth $81,253,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Community Bank N.A. purchased a new stake in shares of SEI Investments during the third quarter worth about $35,000. Allworth Financial LP grew its stake in shares of SEI Investments by 44.0% during the third quarter. Allworth Financial LP now owns 432 shares of the asset manager's stock worth $37,000 after acquiring an additional 132 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of SEI Investments by 353.1% during the third quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock worth $37,000 after acquiring an additional 339 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of SEI Investments by 60.2% during the first quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock worth $41,000 after purchasing an additional 200 shares during the period. Finally, Rothschild Investment LLC lifted its holdings in shares of SEI Investments by 266.9% during the fourth quarter. Rothschild Investment LLC now owns 565 shares of the asset manager's stock worth $46,000 after purchasing an additional 411 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Trading Down 1.3%

Shares of SEIC stock opened at $88.24 on Tuesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. The company has a market cap of $10.61 billion, a price-to-earnings ratio of 15.06 and a beta of 0.97. The stock has a 50 day simple moving average of $85.79 and a 200-day simple moving average of $83.63. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.29 by $0.15. The business had revenue of $622.18 million during the quarter, compared to the consensus estimate of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.17 EPS. On average, equities research analysts expect that SEI Investments Company will post 5.89 EPS for the current fiscal year.

SEI Investments Dividend Announcement

The company also recently declared a dividend, which will be paid on Tuesday, June 16th. Investors of record on Monday, June 8th will be given a dividend of $0.52 per share. This represents a dividend yield of 118.0%. The ex-dividend date is Monday, June 8th. SEI Investments's payout ratio is presently 17.75%.

Insider Activity

In related news, Director Kathryn Mccarthy sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the sale, the director directly owned 77,883 shares in the company, valued at approximately $7,092,804.81. The trade was a 11.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total value of $364,640.00. Following the sale, the insider owned 921 shares of the company's stock, valued at $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 61,447 shares of company stock valued at $5,495,889 in the last three months. Company insiders own 4.80% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Raymond James Financial reaffirmed an "outperform" rating and set a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Weiss Ratings reaffirmed a "buy (b)" rating on shares of SEI Investments in a report on Tuesday, April 21st. Piper Sandler reaffirmed an "overweight" rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Finally, Morgan Stanley decreased their target price on SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, SEI Investments has a consensus rating of "Moderate Buy" and a consensus price target of $103.00.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI's technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company's core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.

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