SEI Investments (NASDAQ:SEIC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB cut its position in shares of SEI Investments (NASDAQ:SEIC) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,700 shares of the asset manager’s stock after selling 4,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in SEI Investments were worth $1,872,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SEIC. FMR LLC boosted its position in shares of SEI Investments by 249.7% in the third 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. Geode Capital Management LLC boosted its holdings in SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Portman Square Capital LLP boosted its holdings in SEI Investments by 113.1% in the fourth quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock valued at $1,436,000 after purchasing an additional 149,840 shares during the last quarter. UMB Bank n.a. purchased a new position in SEI Investments in the fourth quarter valued at about $9,096,000. Finally, Verition Fund Management LLC boosted its holdings in SEI Investments by 2,766.3% in the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock valued at $7,687,000 after purchasing an additional 107,222 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Stock Down 0.5 %

SEIC opened at $79.62 on Wednesday. The firm has a market cap of $10.26 billion, a PE ratio of 18.01, a P/E/G ratio of 1.41 and a beta of 0.98. The business has a fifty day simple moving average of $82.95 and a 200-day simple moving average of $76.94. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results 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 research analysts anticipate that SEI Investments will post 4.86 EPS 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%.

Insider Buying and Selling at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 19,010 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total value of $1,568,134.90. Following the completion of the sale, the chairman now owns 7,377,506 shares of the company’s stock, valued at approximately $608,570,469.94. The trade was a 0.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold 171,194 shares of company stock valued at $14,579,872 in the last quarter. Company insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SEIC. Piper Sandler increased their target price on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a report on Monday, December 23rd. Oppenheimer increased their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Finally, Morgan Stanley increased their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $90.00.

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.