Nomura Asset Management Co. Ltd. Grows Stake in SEI Investments (NASDAQ:SEIC)

Nomura Asset Management Co. Ltd. raised its holdings in SEI Investments (NASDAQ:SEIC) by 24.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,748 shares of the asset manager’s stock after buying an additional 10,100 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in SEI Investments were worth $3,580,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in SEIC. First Horizon Advisors Inc. increased its position in SEI Investments by 101.3% during the 3rd quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager’s stock valued at $32,000 after purchasing an additional 232 shares during the period. Fairfield Financial Advisors LTD purchased a new stake in shares of SEI Investments in the 2nd quarter worth about $30,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of SEI Investments by 925.9% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 554 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Point72 DIFC Ltd bought a new position in SEI Investments in the third quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. raised its stake in SEI Investments by 16.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,197 shares of the asset manager’s stock worth $77,000 after buying an additional 168 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SEI Investments

In other SEI Investments news, Director Carmen Romeo sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $79.64, for a total transaction of $398,200.00. Following the sale, the director now directly owns 1,577,652 shares in the company, valued at approximately $125,644,205.28. This trade represents a 0.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.59, for a total value of $1,864,750.00. Following the completion of the sale, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at approximately $484,835. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 93,058 shares of company stock valued at $7,245,697. 14.30% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on SEIC shares. Oppenheimer lifted their price objective on SEI Investments from $81.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Morgan Stanley raised their target price on SEI Investments from $70.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, October 24th. Finally, Piper Sandler upped their price target on SEI Investments from $74.00 to $77.00 and gave the stock a “neutral” rating in a research note on Thursday, October 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $77.50.

SEI Investments Stock Performance

SEIC stock opened at $85.83 on Friday. The firm has a 50 day moving average price of $78.17 and a 200-day moving average price of $70.63. SEI Investments has a 52-week low of $61.28 and a 52-week high of $87.25. The firm has a market capitalization of $11.06 billion, a price-to-earnings ratio of 20.73, a PEG ratio of 1.62 and a beta of 0.98.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.12. SEI Investments had a return on equity of 24.29% and a net margin of 26.60%. The business had revenue of $537.40 million during the quarter, compared to analysts’ expectations of $534.08 million. During the same quarter in the previous year, the business earned $0.87 earnings per share. The firm’s quarterly revenue was up 12.7% compared to the same quarter last year. As a group, sell-side analysts forecast that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share repurchase plan on Tuesday, October 22nd that authorizes the company to buyback $400.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

SEI Investments Increases Dividend

The company also recently declared a semi-annual dividend, which will be paid on Wednesday, January 8th. Investors of record on Friday, December 27th will be paid a $0.49 dividend. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend is Friday, December 27th. This represents a yield of 1.1%. SEI Investments’s payout ratio is presently 22.22%.

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.