Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Position in SEI Investments (NASDAQ:SEIC)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 49.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,534 shares of the asset manager's stock after selling 34,713 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in SEI Investments were worth $2,931,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEIC. Creative Planning grew its holdings in SEI Investments by 2.3% in the third quarter. Creative Planning now owns 8,086 shares of the asset manager's stock worth $559,000 after purchasing an additional 182 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of SEI Investments by 13.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,368 shares of the asset manager's stock valued at $302,000 after buying an additional 513 shares during the last quarter. Private Advisor Group LLC grew its holdings in shares of SEI Investments by 9.4% during the third quarter. Private Advisor Group LLC now owns 3,550 shares of the asset manager's stock valued at $246,000 after buying an additional 306 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of SEI Investments by 6,818.9% during the third quarter. International Assets Investment Management LLC now owns 2,560 shares of the asset manager's stock valued at $177,000 after buying an additional 2,523 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its holdings in shares of SEI Investments by 21.3% during the third quarter. First Trust Direct Indexing L.P. now owns 6,639 shares of the asset manager's stock valued at $459,000 after buying an additional 1,165 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

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Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of recent analyst reports. Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. Morgan Stanley raised their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research note on Thursday, January 30th. Finally, Piper Sandler upped their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $90.00.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded up $0.78 during trading on Friday, hitting $80.05. The company had a trading volume of 1,266,206 shares, compared to its average volume of 587,187. The stock has a 50 day simple moving average of $82.83 and a 200 day simple moving average of $77.17. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The firm has a market capitalization of $10.16 billion, a P/E ratio of 18.11, a price-to-earnings-growth ratio of 1.41 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were given a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This represents a dividend yield of 1.1%. This is a boost from SEI Investments's previous semi-annual dividend of $0.46. SEI Investments's dividend payout ratio (DPR) is currently 22.17%.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 52,042 shares of the firm's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $85.23, for a total transaction of $4,435,539.66. Following the completion of the transaction, the chairman now owns 7,232,922 shares in the company, valued at $616,461,942.06. This trade represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders sold 171,194 shares of company stock worth $14,579,872. 14.30% of the stock is owned by corporate insiders.

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.