Bank of New York Mellon Corp Reduces Stake in SEI Investments Company $SEIC

Bank of New York Mellon Corp reduced its stake in SEI Investments Company (NASDAQ:SEIC) by 2.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 990,651 shares of the asset manager’s stock after selling 23,260 shares during the period. Bank of New York Mellon Corp’s holdings in SEI Investments were worth $81,253,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in SEI Investments by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock valued at $955,461,000 after buying an additional 30,970 shares in the last quarter. Bank of America Corp DE grew its holdings in SEI Investments by 4.4% in the 2nd quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock valued at $284,015,000 after buying an additional 133,057 shares in the last quarter. Geode Capital Management LLC grew its holdings in SEI Investments by 3.9% in the 4th quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock valued at $237,421,000 after buying an additional 109,974 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in SEI Investments by 1.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock valued at $158,084,000 after buying an additional 31,953 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in SEI Investments by 4.1% in the 3rd quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager’s stock valued at $146,920,000 after buying an additional 68,873 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 7,447 shares of the stock in a transaction dated Wednesday, March 11th. The stock was sold at an average price of $79.26, for a total value of $590,249.22. Following the sale, the chairman owned 6,875,783 shares of the company’s stock, valued at $544,974,560.58. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Warner sold 4,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $91.16, for a total value of $364,640.00. Following the completion of the sale, the insider directly owned 921 shares in the company, valued at $83,958.36. This represents a 81.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,447 shares of company stock worth $5,495,889 over the last ninety days. Company insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Keefe, Bruyette & Woods upped their target price on SEI Investments from $95.00 to $107.00 and gave the company an “outperform” rating in a report on Thursday, April 23rd. Morgan Stanley dropped their target price on SEI Investments from $119.00 to $108.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Raymond James Financial restated an “outperform” rating and issued a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $103.00.

SEI Investments Price Performance

SEIC opened at $88.24 on Tuesday. The stock’s 50-day moving average price is $85.79 and its 200 day moving average price is $83.63. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $93.96. The company has a current ratio of 4.52, a quick ratio of 4.40 and a debt-to-equity ratio of 0.07. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 15.06 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. The company had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.SEI Investments’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.17 EPS. As a group, sell-side analysts expect that SEI Investments Company will post 5.89 earnings per share for the current year.

SEI Investments Announces Dividend

The business also recently declared a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a yield of 118.0%. SEI Investments’s dividend payout ratio (DPR) is currently 17.75%.

SEI Investments Company Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.