Nomura Asset Management Co. Ltd. Buys 10,100 Shares of SEI Investments (NASDAQ:SEIC)

Nomura Asset Management Co. Ltd. lifted its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 24.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,748 shares of the asset manager's stock after purchasing an additional 10,100 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in SEI Investments were worth $3,580,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager's stock worth $89,291,000 after purchasing an additional 222,631 shares during the period. Bank of New York Mellon Corp grew its position in shares of SEI Investments by 3.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,186,439 shares of the asset manager's stock worth $76,751,000 after buying an additional 36,810 shares during the period. FMR LLC grew its position in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after buying an additional 632,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of SEI Investments by 2.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager's stock worth $37,791,000 after acquiring an additional 10,576 shares in the last quarter. Finally, Raymond James & Associates lifted its position in SEI Investments by 3.8% during the 3rd quarter. Raymond James & Associates now owns 544,477 shares of the asset manager's stock valued at $37,672,000 after acquiring an additional 19,846 shares during the period. Institutional investors own 70.59% of the company's stock.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC traded down $0.75 during trading on Friday, reaching $85.83. 841,087 shares of the stock traded hands, compared to its average volume of 597,338. The stock has a market cap of $11.06 billion, a P/E ratio of 20.73, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The stock has a 50-day moving average of $78.17 and a two-hundred day moving average of $70.66. SEI Investments has a 52-week low of $61.28 and a 52-week high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $1.19 EPS for the quarter, beating the consensus estimate of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business had revenue of $537.40 million for the quarter, compared to the consensus estimate of $534.08 million. During the same period last year, the business posted $0.87 EPS. The company's revenue was up 12.7% compared to the same quarter last year. Sell-side analysts expect that SEI Investments will post 4.41 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th will be given a $0.49 dividend. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. The ex-dividend date is Friday, December 27th. This represents a yield of 1.1%. SEI Investments's payout ratio is 22.22%.

SEI Investments declared that its board has initiated a share repurchase program on Tuesday, October 22nd that allows the company to repurchase $400.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 4.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on SEIC shares. Morgan Stanley raised their target price on shares of SEI Investments from $70.00 to $75.00 and gave the company an "underweight" rating in a research note on Thursday, October 24th. Oppenheimer raised their price objective on SEI Investments from $81.00 to $85.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Finally, Piper Sandler boosted their target price on SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $77.50.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 5,984 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $84.23, for a total transaction of $504,032.32. Following the transaction, the chairman now directly owns 7,371,522 shares of the company's stock, valued at $620,903,298.06. This represents a 0.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Peterson sold 25,000 shares of the firm's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. 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 90 days, insiders have sold 93,058 shares of company stock worth $7,245,697. Company insiders own 14.30% of the company's stock.

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.