SEI Investments (NASDAQ:SEIC) Shares Sold by American International Group Inc.

American International Group Inc. trimmed its holdings in shares of SEI Investments (NASDAQ:SEIC) by 2.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 131,974 shares of the asset manager’s stock after selling 3,116 shares during the period. American International Group Inc. owned about 0.10% of SEI Investments worth $9,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. abrdn plc lifted its position in SEI Investments by 91.0% during the fourth quarter. abrdn plc now owns 36,923 shares of the asset manager’s stock valued at $2,346,000 after buying an additional 17,590 shares in the last quarter. Mediolanum International Funds Ltd acquired a new position in shares of SEI Investments during the first quarter worth $1,443,000. IFG Advisory LLC lifted its position in shares of SEI Investments by 109.1% during the fourth quarter. IFG Advisory LLC now owns 58,292 shares of the asset manager’s stock worth $3,704,000 after purchasing an additional 30,408 shares in the last quarter. Norges Bank acquired a new position in shares of SEI Investments during the fourth quarter worth $32,161,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of SEI Investments by 20.6% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,518 shares of the asset manager’s stock worth $4,495,000 after purchasing an additional 10,670 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SEI Investments

In related news, Director William Doran sold 5,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director William Doran sold 5,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $67.04, for a total value of $335,200.00. Following the sale, the director now owns 656,386 shares of the company’s stock, valued at approximately $44,004,117.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 70,000 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $68.62, for a total transaction of $4,803,400.00. Following the completion of the sale, the chairman now directly owns 7,795,471 shares in the company, valued at approximately $534,925,220.02. The disclosure for this sale can be found here. Over the last quarter, insiders sold 123,000 shares of company stock worth $8,406,920. Insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $0.49 during midday trading on Thursday, reaching $66.74. The company had a trading volume of 563,850 shares, compared to its average volume of 588,844. The stock’s fifty day moving average price is $66.39 and its 200-day moving average price is $66.89. The stock has a market capitalization of $8.77 billion, a P/E ratio of 17.67, a PEG ratio of 1.35 and a beta of 0.99. SEI Investments has a one year low of $52.19 and a one year high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.01. SEI Investments had a net margin of 24.80% and a return on equity of 22.91%. The firm had revenue of $518.99 million during the quarter, compared to analyst estimates of $523.80 million. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments will post 4.19 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were paid a dividend of $0.46 per share. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. The ex-dividend date was Monday, June 10th. This represents a $1.84 annualized dividend and a yield of 2.76%. SEI Investments’s payout ratio is presently 25.14%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $73.00 target price (down from $74.00) on shares of SEI Investments in a research report on Thursday. Oppenheimer boosted their target price on shares of SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 9th. Finally, Piper Sandler reduced their target price on shares of SEI Investments from $72.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $71.25.

SEI Investments Company 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.