SEI Investments Company $SEIC Stake Reduced by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden reduced its stake in SEI Investments by 34.1%, selling 12,100 shares, leaving it with 23,434 shares valued at approximately $1.8 million.
• Multiple hedge funds increased their holdings in SEI Investments, with Cullen Frost Bankers Inc. significantly boosting its stake by 1,563.4% during the same period.
• SEI Investments announced a quarterly dividend increase to $0.49 per share, reflecting a yield of 2.2% and a payout ratio of 18.39%.

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 34.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,434 shares of the asset manager's stock after selling 12,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in SEI Investments were worth $1,819,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Meiji Yasuda Life Insurance Co grew its holdings in shares of SEI Investments by 3.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager's stock worth $379,000 after purchasing an additional 160 shares during the period. Concurrent Investment Advisors LLC grew its holdings in shares of SEI Investments by 2.9% during the 1st quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager's stock worth $435,000 after purchasing an additional 160 shares during the period. GHE LLC grew its holdings in shares of SEI Investments by 2.0% during the 4th quarter. GHE LLC now owns 9,126 shares of the asset manager's stock worth $753,000 after purchasing an additional 183 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of SEI Investments by 8.0% during the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager's stock worth $208,000 after purchasing an additional 200 shares during the period. Finally, iA Global Asset Management Inc. grew its holdings in shares of SEI Investments by 12.4% during the 1st quarter. iA Global Asset Management Inc. now owns 1,835 shares of the asset manager's stock worth $142,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Activity

In other news, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total value of $3,090,500.00. Following the completion of the sale, the chief executive officer directly owned 171,260 shares in the company, valued at approximately $15,122,258. The trade was a 16.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the sale, the insider owned 1,300 shares of the company's stock, valued at $115,375. This trade represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,126 shares of company stock worth $15,540,849. 14.60% of the stock is currently owned by insiders.

SEI Investments Stock Up 2.1%

Shares of SEIC traded up $1.8850 during trading on Friday, reaching $90.0250. The company's stock had a trading volume of 256,007 shares, compared to its average volume of 844,440. The company has a fifty day moving average of $88.94 and a two-hundred day moving average of $82.48. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 1.37 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same period in the prior year, the company posted $1.05 EPS. SEI Investments's quarterly revenue was up 7.8% on a year-over-year basis. As a group, equities analysts forecast that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were issued a $0.49 dividend. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.2%. SEI Investments's dividend payout ratio (DPR) is presently 18.39%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Raymond James Financial boosted their target price on SEI Investments from $115.00 to $118.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. William Blair reiterated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler reduced their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. 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 report on Thursday, June 26th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $98.00 price target (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $102.00.

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.