Mutual of America Capital Management LLC Has $3.85 Million Stake in SEI Investments Company (NASDAQ:SEIC)

Mutual of America Capital Management LLC reduced its position in SEI Investments Company (NASDAQ:SEIC) by 4.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,616 shares of the asset manager’s stock after selling 2,137 shares during the period. Mutual of America Capital Management LLC’s holdings in SEI Investments were worth $3,852,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of SEIC. Envestnet Asset Management Inc. raised its holdings in SEI Investments by 3.0% during the fourth quarter. Envestnet Asset Management Inc. now owns 406,580 shares of the asset manager’s stock worth $33,535,000 after buying an additional 11,787 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in SEI Investments by 42.7% during the fourth quarter. Russell Investments Group Ltd. now owns 106,892 shares of the asset manager’s stock worth $8,817,000 after buying an additional 31,977 shares during the last quarter. FMR LLC raised its holdings in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after buying an additional 348,112 shares during the last quarter. Cerity Partners LLC raised its holdings in SEI Investments by 55.3% during the fourth quarter. Cerity Partners LLC now owns 22,294 shares of the asset manager’s stock worth $1,798,000 after buying an additional 7,938 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new position in SEI Investments during the fourth quarter worth $4,962,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Up 0.7%

NASDAQ SEIC opened at $87.50 on Friday. The firm has a market capitalization of $10.82 billion, a P/E ratio of 16.42, a PEG ratio of 1.38 and a beta of 0.95. The business has a fifty day simple moving average of $88.29 and a 200 day simple moving average of $82.26. SEI Investments Company has a 12 month low of $64.19 and a 12 month high of $93.96.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.60. The firm had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%. The business’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.05 EPS. As a group, sell-side analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th were paid a $0.49 dividend. This is a boost from SEI Investments’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. This represents a $1.96 dividend on an annualized basis and a yield of 2.2%. SEI Investments’s dividend payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SEIC shares. Piper Sandler lowered their price objective on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a report on Thursday, July 24th. Raymond James Financial increased their price target on SEI Investments from $115.00 to $118.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. William Blair reissued a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Morgan Stanley reissued an “overweight” rating and issued a $100.00 price target (up from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Finally, Wall Street Zen raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Tuesday, May 20th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $102.00.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total value of $443,750.00. Following the completion of the transaction, the insider owned 1,300 shares in the company, valued at $115,375. This represents a 79.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael Peterson sold 50,000 shares of the company’s stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total value of $4,213,500.00. Following the completion of the transaction, the executive vice president owned 13,500 shares of the company’s stock, valued at $1,137,645. This trade represents a 78.74% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,126 shares of company stock worth $20,082,409. Company insiders own 14.60% of the company’s stock.

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.