Mendota Financial Group LLC Sells 836 Shares of SEI Investments (NASDAQ:SEIC)

Mendota Financial Group LLC trimmed its holdings in shares of SEI Investments (NASDAQ:SEIC) by 56.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 632 shares of the asset manager’s stock after selling 836 shares during the period. Mendota Financial Group LLC’s holdings in SEI Investments were worth $52,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in SEI Investments by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 21,419 shares of the asset manager’s stock worth $1,386,000 after acquiring an additional 8,094 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of SEI Investments by 12.1% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 76,133 shares of the asset manager’s stock valued at $4,925,000 after purchasing an additional 8,243 shares during the period. Quantinno Capital Management LP boosted its position in shares of SEI Investments by 56.7% during the 3rd quarter. Quantinno Capital Management LP now owns 17,591 shares of the asset manager’s stock worth $1,217,000 after purchasing an additional 6,364 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of SEI Investments by 13.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 507,916 shares of the asset manager’s stock valued at $35,143,000 after buying an additional 60,824 shares during the period. Finally, Portfolio Design Labs LLC bought a new stake in SEI Investments in the 3rd quarter valued at about $1,701,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley increased their price target on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. Oppenheimer increased their target price on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on shares of SEI Investments from $76.00 to $86.00 and gave the company a “market perform” rating in a research note on Friday, December 20th. Finally, Piper Sandler raised their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.75.

Insiders Place Their Bets

In other SEI Investments news, CEO Ryan Hicke sold 10,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the transaction, the chief executive officer now directly owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This represents a 6.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 94,158 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $85.73, for a total value of $8,072,165.34. Following the completion of the sale, the chairman now owns 7,284,964 shares in the company, valued at approximately $624,539,963.72. The trade was a 1.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock valued at $19,753,402 in the last 90 days. 14.30% of the stock is currently owned by corporate insiders.

SEI Investments Stock Up 0.0 %

Shares of NASDAQ:SEIC opened at $79.02 on Tuesday. The business’s 50 day moving average is $82.15 and its 200 day moving average is $73.15. SEI Investments has a 12-month low of $62.34 and a 12-month high of $87.25. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 1.62 and a beta of 0.98.

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

SEI Investments Increases Dividend

The company also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Shareholders of record on Friday, December 27th were paid a $0.49 dividend. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date was Friday, December 27th. This represents a yield of 1.1%. SEI Investments’s dividend payout ratio (DPR) is 23.67%.

SEI Investments announced that its Board of Directors has authorized a stock repurchase program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

About SEI Investments

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.