Tokio Marine Asset Management Co. Ltd. Acquires Shares of 2,485 SEI Investments (NASDAQ:SEIC)

Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of SEI Investments (NASDAQ:SEIC) during the fourth quarter, Holdings Channel reports. The fund acquired 2,485 shares of the asset manager’s stock, valued at approximately $205,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its position in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock worth $174,092,000 after purchasing an additional 300,704 shares during the period. Portman Square Capital LLP boosted its holdings in shares of SEI Investments by 113.1% in the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager’s stock worth $1,436,000 after buying an additional 149,840 shares during the last quarter. UMB Bank n.a. bought a new position in SEI Investments during the fourth quarter valued at about $9,096,000. Finally, Verition Fund Management LLC increased its holdings in SEI Investments by 2,766.3% during the third quarter. Verition Fund Management LLC now owns 111,098 shares of the asset manager’s stock worth $7,687,000 after buying an additional 107,222 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SEIC. Piper Sandler increased their target price on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Morgan Stanley boosted their target price on SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $90.00.

SEI Investments Price Performance

SEI Investments stock opened at $86.30 on Thursday. The firm has a market capitalization of $11.12 billion, a P/E ratio of 19.52, a PEG ratio of 1.48 and a beta of 0.98. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The business has a fifty day moving average price of $83.40 and a 200-day moving average price of $75.24.

SEI Investments (NASDAQ:SEIC) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. Sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were paid a dividend of $0.49 per share. The ex-dividend date was Friday, December 27th. This represents a yield of 1.1%. This is a boost from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is currently 22.17%.

SEI Investments declared that its board has authorized a stock buyback program on Tuesday, October 22nd that authorizes the company to repurchase $400.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 52,042 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $85.23, for a total value of $4,435,539.66. Following the transaction, the chairman now directly owns 7,232,922 shares in the company, valued at $616,461,942.06. This represents a 0.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 171,194 shares of company stock valued at $14,579,872. Company insiders own 14.30% of the company’s stock.

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.