Sumitomo Mitsui Trust Holdings Inc. Lowers Stock Position in SEI Investments (NASDAQ:SEIC)

Sumitomo Mitsui Trust Holdings Inc. decreased its position in shares of SEI Investments (NASDAQ:SEIC) by 11.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,555 shares of the asset manager’s stock after selling 34,938 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.21% of SEI Investments worth $17,956,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Lecap Asset Management Ltd. purchased a new stake in shares of SEI Investments during the 4th quarter worth approximately $597,000. Louisiana State Employees Retirement System purchased a new stake in shares of SEI Investments during the 4th quarter worth approximately $1,786,000. AlphaQ Advisors LLC purchased a new stake in shares of SEI Investments during the 4th quarter worth approximately $247,000. Cerity Partners LLC boosted its stake in shares of SEI Investments by 4.1% during the 4th quarter. Cerity Partners LLC now owns 10,739 shares of the asset manager’s stock worth $682,000 after acquiring an additional 420 shares in the last quarter. Finally, Custom Index Systems LLC purchased a new stake in shares of SEI Investments during the 4th quarter worth approximately $501,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC opened at $66.95 on Tuesday. The stock has a fifty day moving average of $68.52 and a two-hundred day moving average of $63.25. The company has a market capitalization of $8.81 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 1.35 and a beta of 1.02. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, meeting the consensus estimate of $0.91. The company had revenue of $484.86 million during the quarter, compared to the consensus estimate of $481.39 million. SEI Investments had a return on equity of 22.40% and a net margin of 24.08%. During the same period in the previous year, the firm posted $0.83 EPS. As a group, equities research analysts forecast that SEI Investments will post 4.08 earnings per share for the current fiscal year.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, EVP Wayne Withrow sold 16,970 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total value of $1,122,735.20. Following the completion of the transaction, the executive vice president now directly owns 55,399 shares in the company, valued at approximately $3,665,197.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Wayne Withrow sold 16,970 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the completion of the sale, the executive vice president now directly owns 55,399 shares in the company, valued at approximately $3,665,197.84. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 150,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $70.75, for a total value of $10,612,500.00. Following the sale, the chairman now owns 7,884,834 shares of the company’s stock, valued at $557,852,005.50. The disclosure for this sale can be found here. In the last three months, insiders sold 206,333 shares of company stock worth $14,481,612. Insiders own 15.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SEIC. Piper Sandler lifted their price objective on SEI Investments from $66.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. Oppenheimer lifted their price objective on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $70.25.

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.