M&T Bank Corp Trims Stake in SEI Investments Company (NASDAQ:SEIC)

M&T Bank Corp cut its holdings in SEI Investments Company (NASDAQ:SEIC) by 39.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,876 shares of the asset manager’s stock after selling 1,860 shares during the quarter. M&T Bank Corp’s holdings in SEI Investments were worth $223,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC raised its stake in shares of SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager’s stock worth $492,000 after buying an additional 145 shares in the last quarter. Meiji Yasuda Life Insurance Co raised its stake in shares of SEI Investments by 3.6% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 4,591 shares of the asset manager’s stock worth $379,000 after buying an additional 160 shares during the last quarter. Concurrent Investment Advisors LLC raised its position in SEI Investments by 2.9% during the first quarter. Concurrent Investment Advisors LLC now owns 5,600 shares of the asset manager’s stock worth $435,000 after acquiring an additional 160 shares during the last quarter. GHE LLC raised its position in shares of SEI Investments by 2.0% during the 4th quarter. GHE LLC now owns 9,126 shares of the asset manager’s stock worth $753,000 after purchasing an additional 183 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager’s stock worth $62,000 after acquiring an additional 225 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Down 0.4%

Shares of SEIC stock opened at $92.82 on Friday. The company has a market cap of $11.56 billion, a P/E ratio of 20.18, a PEG ratio of 1.58 and a beta of 0.92. The business has a 50 day moving average of $87.07 and a two-hundred day moving average of $81.54. SEI Investments Company has a 52 week low of $62.38 and a 52 week high of $93.96.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. SEI Investments’s revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. Analysts expect that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were given a dividend of $0.49 per share. This represents a $1.96 dividend on an annualized basis and a dividend yield of 2.11%. This is an increase from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. SEI Investments’s payout ratio is 21.30%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Morgan Stanley reissued an “overweight” rating and set a $100.00 price objective (up previously from $84.00) on shares of SEI Investments in a research note on Thursday, June 26th. Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Piper Sandler raised their price target on shares of SEI Investments from $79.00 to $96.00 and gave the company a “neutral” rating in a report on Wednesday, July 2nd. William Blair restated a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the stock a “market perform” rating in a research report on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Insider Transactions at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 66,126 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total value of $5,573,099.28. Following the sale, the chairman owned 6,937,582 shares of the company’s stock, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sanjay Sharma sold 20,000 shares of SEI Investments stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the completion of the transaction, the insider directly owned 23,895 shares in the company, valued at $1,992,843. This represents a 45.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 232,126 shares of company stock worth $19,638,659 in the last three months. 14.60% of the stock is currently owned by company 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.