SEI Investments (NASDAQ:SEIC) Stake Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,171,743 shares of the asset manager's stock after purchasing an additional 46,425 shares during the quarter. Bank of New York Mellon Corp owned about 0.91% of SEI Investments worth $96,645,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in SEIC. GHE LLC increased its position in SEI Investments by 2.0% in the fourth quarter. GHE LLC now owns 9,126 shares of the asset manager's stock worth $753,000 after buying an additional 183 shares during the period. Crestwood Advisors Group LLC grew its position in shares of SEI Investments by 91.1% during the fourth quarter. Crestwood Advisors Group LLC now owns 209,032 shares of the asset manager's stock worth $17,241,000 after acquiring an additional 99,639 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares during the period. Concurrent Investment Advisors LLC lifted its position in SEI Investments by 4.7% in the 4th quarter. Concurrent Investment Advisors LLC now owns 5,440 shares of the asset manager's stock valued at $449,000 after purchasing an additional 245 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its stake in SEI Investments by 13.2% during the 4th quarter. Global Retirement Partners LLC now owns 1,450 shares of the asset manager's stock valued at $120,000 after purchasing an additional 169 shares during the period. Institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

Shares of SEIC traded down $1.00 during midday trading on Monday, reaching $79.05. The stock had a trading volume of 913,876 shares, compared to its average volume of 595,354. The firm's 50 day moving average price is $82.83 and its 200-day moving average price is $77.25. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a market capitalization of $10.04 billion, a P/E ratio of 17.88, a P/E/G ratio of 1.41 and a beta of 0.98.

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

SEI Investments Increases Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were 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 was Friday, December 27th. This represents a yield of 1.1%. SEI Investments's payout ratio is 22.17%.

Insider Buying and Selling at SEI Investments

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

Analyst Ratings Changes

Several brokerages have commented on SEIC. Morgan Stanley lifted their price target on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a report on Friday, January 3rd. Oppenheimer boosted their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $90.00.

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.