Bank of New York Mellon Corp Sells 112,604 Shares of SEI Investments Company $SEIC

Bank of New York Mellon Corp cut its stake in SEI Investments Company (NASDAQ:SEIC) by 9.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,020,339 shares of the asset manager’s stock after selling 112,604 shares during the period. Bank of New York Mellon Corp owned 0.83% of SEI Investments worth $91,688,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP boosted its position in shares of SEI Investments by 6.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,732,511 shares of the asset manager’s stock valued at $134,487,000 after purchasing an additional 111,065 shares in the last quarter. Boston Trust Walden Corp lifted its position in SEI Investments by 3.3% during the second quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager’s stock valued at $123,079,000 after buying an additional 44,195 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of SEI Investments by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock valued at $62,186,000 after buying an additional 45,019 shares in the last quarter. Millennium Management LLC grew its position in shares of SEI Investments by 339.3% in the 1st quarter. Millennium Management LLC now owns 783,619 shares of the asset manager’s stock worth $60,832,000 after buying an additional 605,252 shares during the period. Finally, Amundi grew its position in shares of SEI Investments by 228.2% in the 1st quarter. Amundi now owns 782,035 shares of the asset manager’s stock worth $57,472,000 after buying an additional 543,753 shares during the period. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Piper Sandler dropped their price objective on shares of SEI Investments from $96.00 to $93.00 and set a “neutral” rating on the stock in a research note on Thursday, July 24th. Weiss Ratings reissued a “buy (b)” rating on shares of SEI Investments in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods cut their price target on SEI Investments from $98.00 to $93.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Raymond James Financial lifted their price objective on SEI Investments from $118.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday, October 14th. Finally, Zacks Research raised SEI Investments from a “hold” rating to a “strong-buy” rating in a report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $104.40.

Insider Transactions at SEI Investments

In other news, Director Carl Guarino sold 10,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, September 23rd. The shares were sold at an average price of $86.41, for a total transaction of $864,100.00. Following the sale, the director owned 16,042 shares in the company, valued at $1,386,189.22. This trade represents a 38.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ryan Hicke sold 35,000 shares of SEI Investments stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $88.30, for a total transaction of $3,090,500.00. Following the completion of the sale, the chief executive officer owned 171,260 shares in the company, valued at approximately $15,122,258. This represents a 16.97% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 55,000 shares of company stock valued at $4,811,200 over the last three months. Corporate insiders own 14.60% of the company’s stock.

SEI Investments Stock Performance

SEIC stock opened at $82.92 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.73 and a quick ratio of 5.62. SEI Investments Company has a 1 year low of $64.66 and a 1 year high of $93.96. The company has a market cap of $10.15 billion, a P/E ratio of 15.24, a price-to-earnings-growth ratio of 1.22 and a beta of 0.96. The stock’s fifty day moving average price is $84.40 and its 200-day moving average price is $85.75.

SEI Investments (NASDAQ:SEIC) last announced its earnings results on Wednesday, October 22nd. The asset manager reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The company had revenue of $578.51 million during the quarter, compared to analyst estimates of $578.75 million. During the same period in the previous year, the business posted $1.19 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, equities analysts forecast that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has approved a share buyback plan on Friday, October 24th that allows the company to repurchase $650.00 million in shares. This repurchase authorization allows the asset manager to buy up to 6.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

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.