SEI Investments Company $SEIC Shares Sold 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 reduced its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 34.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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 SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Leith Wheeler Investment Counsel Ltd. boosted its position in shares of SEI Investments by 1.3% during the 1st quarter. Leith Wheeler Investment Counsel Ltd. now owns 205,809 shares of the asset manager's stock worth $15,977,000 after acquiring an additional 2,592 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of SEI Investments by 8.0% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,685 shares of the asset manager's stock valued at $208,000 after purchasing an additional 200 shares during the period. S Bank Fund Management Ltd acquired a new stake in shares of SEI Investments in the 1st quarter valued at about $349,000. Russell Investments Group Ltd. boosted its position in shares of SEI Investments by 68.0% in the 1st quarter. Russell Investments Group Ltd. now owns 179,622 shares of the asset manager's stock valued at $13,939,000 after purchasing an additional 72,730 shares during the period. Finally, Prudential PLC boosted its position in shares of SEI Investments by 151.5% in the 1st quarter. Prudential PLC now owns 6,109 shares of the asset manager's stock valued at $474,000 after purchasing an additional 3,680 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the completion of the transaction, the chairman directly owned 7,003,708 shares of the company's stock, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider directly owned 1,300 shares of the company's stock, valued at approximately $115,375. This represents a 79.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,126 shares of company stock valued at $15,540,849. 14.60% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley reissued an "overweight" rating and issued a $100.00 target price (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $98.00 price objective (down from $100.00) on shares of SEI Investments in a research report on Thursday, July 24th. Raymond James Financial lifted their target price on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Piper Sandler lowered their target price on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $102.00.

SEI Investments Trading Up 2.3%

Shares of SEIC traded up $2.01 during mid-day trading on Friday, hitting $90.15. The company's stock had a trading volume of 451,945 shares, compared to its average volume of 703,548. The firm has a 50-day simple moving average of $89.09 and a 200 day simple moving average of $82.48. The firm has a market capitalization of $11.14 billion, a P/E ratio of 16.91, a P/E/G ratio of 1.40 and a beta of 0.95. SEI Investments Company has a 1-year low of $64.66 and a 1-year high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The asset manager reported $1.78 EPS for the quarter, beating the consensus estimate of $1.18 by $0.60. The business had revenue of $559.60 million during the quarter, compared to analysts' expectations of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The company's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm earned $1.05 EPS. As a group, sell-side analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a dividend of $0.49 per share. This is a boost from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's payout ratio is presently 18.39%.

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.