Sumitomo Mitsui Trust Group Inc. Sells 4,551 Shares of SEI Investments (NASDAQ:SEIC)

Sumitomo Mitsui Trust Group Inc. lessened its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 2.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 219,533 shares of the asset manager's stock after selling 4,551 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.17% of SEI Investments worth $18,107,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Leo Wealth LLC bought a new position in SEI Investments in the 4th quarter valued at about $229,000. Longboard Asset Management LP bought a new position in shares of SEI Investments during the 4th quarter valued at about $267,000. abrdn plc boosted its position in shares of SEI Investments by 11.9% during the 4th quarter. abrdn plc now owns 3,382 shares of the asset manager's stock valued at $279,000 after purchasing an additional 359 shares in the last quarter. Alliance Wealth Advisors LLC UT bought a new position in shares of SEI Investments during the 4th quarter valued at about $216,000. Finally, Boston Trust Walden Corp boosted its position in shares of SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after purchasing an additional 20,020 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on SEIC shares. Morgan Stanley raised their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, January 3rd. Oppenheimer raised their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler raised their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research report on Monday, December 23rd. Finally, Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, SEI Investments presently has an average rating of "Hold" and an average price target of $90.00.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded down $0.34 during mid-day trading on Friday, reaching $82.28. The company had a trading volume of 504,234 shares, compared to its average volume of 545,812. The stock has a fifty day moving average of $83.52 and a two-hundred day moving average of $76.12. The company has a market capitalization of $10.61 billion, a price-to-earnings ratio of 18.62, a PEG ratio of 1.48 and a beta of 0.98. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25.

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

SEI Investments Increases Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, January 8th. Stockholders of record on Friday, December 27th were given a $0.49 dividend. This represents a dividend yield of 1.1%. This is a positive change from SEI Investments's previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. SEI Investments's dividend payout ratio is 22.17%.

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

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 5,984 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $84.23, for a total transaction of $504,032.32. Following the transaction, the chairman now owns 7,371,522 shares of the company's stock, valued at approximately $620,903,298.06. This trade represents a 0.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 171,194 shares of company stock valued at $14,579,872 over the last three months. 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.