Meiji Yasuda Asset Management Co Ltd. Sells 70,150 Shares of SEI Investments Company $SEIC

Key Points

• Meiji Yasuda Asset Management Co Ltd. significantly reduced its stake in SEI Investments by selling 70,150 shares, representing a 94.6% decrease in ownership, leaving it with just 3,971 shares valued at $308,000.
• Other institutional investors have made notable changes in their holdings, with Cullen Frost Bankers Inc. increasing its stake by 1,563.4% after acquiring 1,282 additional shares.
• SEI Investments reported a higher-than-expected quarterly earnings per share of $1.78, surpassing analysts' estimates of $1.18, along with a revenue of $559.60 million, exceeding projections by $8.88 million.

Meiji Yasuda Asset Management Co Ltd. lowered its holdings in SEI Investments Company (NASDAQ:SEIC - Free Report) by 94.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,971 shares of the asset manager's stock after selling 70,150 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in SEI Investments were worth $308,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of SEIC. Bison Wealth LLC bought a new position in SEI Investments in the fourth quarter worth about $207,000. Cetera Investment Advisers lifted its holdings in SEI Investments by 5.8% in the fourth quarter. Cetera Investment Advisers now owns 5,218 shares of the asset manager's stock worth $430,000 after acquiring an additional 285 shares during the last quarter. Focus Partners Wealth bought a new position in SEI Investments in the fourth quarter worth about $281,000. Lazard Asset Management LLC lifted its holdings in SEI Investments by 42.0% in the fourth quarter. Lazard Asset Management LLC now owns 15,318 shares of the asset manager's stock worth $1,262,000 after acquiring an additional 4,532 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in SEI Investments by 12.0% in the fourth quarter. Nuveen Asset Management LLC now owns 283,719 shares of the asset manager's stock worth $23,401,000 after acquiring an additional 30,496 shares during the last quarter. Institutional investors own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Piper Sandler cut their price target on SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a report on Thursday, July 24th. Oppenheimer lifted their price target on SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Zacks Research cut SEI Investments from a "strong-buy" rating to a "hold" rating in a report on Monday, September 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, SEI Investments presently has an average rating of "Hold" and an average target price of $102.00.

SEI Investments Price Performance

NASDAQ SEIC traded down $0.21 on Wednesday, hitting $87.00. 95,030 shares of the stock were exchanged, compared to its average volume of 821,862. SEI Investments Company has a 52-week low of $64.66 and a 52-week high of $93.96. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.31 and a beta of 0.98. The company's 50-day moving average price is $89.06 and its two-hundred day moving average price is $83.19.

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

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total transaction of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares of the company's stock, valued at $115,375. The trade was a 79.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the transaction, the chief executive officer directly owned 171,260 shares of the company's stock, valued at approximately $15,122,258. This represents a 16.97% decrease in their position. The disclosure for this sale can be found here. Company insiders own 14.30% of the company's stock.

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.