Sumitomo Mitsui DS Asset Management Company Ltd Has $974,000 Stake in SEI Investments Company (NASDAQ:SEIC)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 59.9% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,553 shares of the asset manager's stock after buying an additional 4,701 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in SEI Investments were worth $974,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its position in shares of SEI Investments by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after buying an additional 60,307 shares during the last quarter. Boston Trust Walden Corp raised its position in shares of SEI Investments by 1.5% during the first quarter. Boston Trust Walden Corp now owns 1,325,479 shares of the asset manager's stock valued at $102,897,000 after buying an additional 19,150 shares during the last quarter. FMR LLC raised its position in shares of SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock valued at $101,716,000 after buying an additional 348,112 shares during the last quarter. Northern Trust Corp raised its position in shares of SEI Investments by 20.9% during the fourth quarter. Northern Trust Corp now owns 1,068,181 shares of the asset manager's stock valued at $88,104,000 after buying an additional 184,339 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in SEI Investments by 38.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 756,037 shares of the asset manager's stock worth $62,358,000 after purchasing an additional 209,850 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Performance

SEI Investments stock traded up $1.14 during trading hours on Friday, hitting $93.10. 516,585 shares of the stock were exchanged, compared to its average volume of 743,336. The stock has a market capitalization of $11.59 billion, a P/E ratio of 20.24, a P/E/G ratio of 1.62 and a beta of 0.92. SEI Investments Company has a 12 month low of $62.38 and a 12 month high of $93.75. The business's 50-day moving average is $84.46 and its two-hundred day moving average is $80.88.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. The business had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period in the prior year, the firm earned $0.99 earnings per share. SEI Investments's revenue was up 7.8% compared to the same quarter last year. On average, equities analysts predict that SEI Investments Company will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were paid 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 dividend yield of 2.11%. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's dividend payout ratio is 21.30%.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of SEI Investments from $87.00 to $96.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. William Blair reissued a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price objective (up from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Piper Sandler upped their price objective on shares of SEI Investments from $79.00 to $96.00 and gave the stock a "neutral" rating in a research note on Wednesday. Finally, Wall Street Zen raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $95.00.

Insider Activity at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the transaction, the executive vice president directly owned 13,500 shares of the company's stock, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total transaction of $5,573,099.28. Following the completion of the transaction, the chairman directly owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 232,126 shares of company stock valued at $19,638,659 over the last three months. 14.60% of the stock is owned by company insiders.

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.