Sumitomo Mitsui Trust Group Inc. Has $15.50 Million Stake in SEI Investments (NASDAQ:SEIC)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 17.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,084 shares of the asset manager's stock after selling 47,433 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.17% of SEI Investments worth $15,504,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Versor Investments LP increased its stake in SEI Investments by 421.7% during the third quarter. Versor Investments LP now owns 35,385 shares of the asset manager's stock valued at $2,448,000 after purchasing an additional 28,603 shares during the last quarter. Ashton Thomas Securities LLC increased its stake in SEI Investments by 8.7% during the third quarter. Ashton Thomas Securities LLC now owns 5,824 shares of the asset manager's stock valued at $403,000 after purchasing an additional 468 shares during the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of SEI Investments by 5.6% during the third quarter. State of New Jersey Common Pension Fund D now owns 29,500 shares of the asset manager's stock worth $2,041,000 after acquiring an additional 1,574 shares during the last quarter. Portside Wealth Group LLC grew its position in shares of SEI Investments by 10.2% during the third quarter. Portside Wealth Group LLC now owns 4,732 shares of the asset manager's stock worth $327,000 after acquiring an additional 438 shares during the last quarter. Finally, Crestwood Advisors Group LLC grew its position in shares of SEI Investments by 0.6% during the third quarter. Crestwood Advisors Group LLC now owns 109,393 shares of the asset manager's stock worth $7,569,000 after acquiring an additional 643 shares during the last quarter. Institutional investors own 70.59% of the company's stock.

SEI Investments Trading Up 0.4 %

SEIC traded up $0.35 on Monday, reaching $80.58. The company had a trading volume of 369,282 shares, compared to its average volume of 589,802. SEI Investments has a one year low of $57.43 and a one year high of $81.97. The company has a market capitalization of $10.39 billion, a P/E ratio of 19.46, a PEG ratio of 1.52 and a beta of 0.97. The company has a fifty day moving average of $72.64 and a 200-day moving average of $68.70.

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

SEI Investments announced that its board has approved a share repurchase plan on Tuesday, October 22nd that permits the company to buyback $400.00 million in shares. This buyback authorization permits the asset manager to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 25,000 shares of the company's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares of the company's stock, valued at approximately $484,835. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 44,163 shares of the company's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.55, for a total transaction of $2,983,210.65. Following the sale, the chairman now directly owns 7,605,414 shares of the company's stock, valued at $513,745,715.70. This represents a 0.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 200,646 shares of company stock valued at $14,115,934. 14.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on SEIC shares. Morgan Stanley upped their price target on shares of SEI Investments from $70.00 to $75.00 and gave the stock an "underweight" rating in a research report on Thursday, October 24th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a research report on Thursday, July 25th. Oppenheimer upped their price target on shares of SEI Investments from $81.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price target on shares of SEI Investments from $74.00 to $77.00 and gave the stock a "neutral" rating in a research report on Thursday, October 24th. 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. According to MarketBeat.com, SEI Investments presently has a consensus rating of "Hold" and an average price target of $77.50.

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.