Toronto Dominion Bank Lowers Stock Holdings in SEI Investments (NASDAQ:SEIC)

Toronto Dominion Bank lessened its position in SEI Investments (NASDAQ:SEIC) by 8.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,042 shares of the asset manager’s stock after selling 3,765 shares during the quarter. Toronto Dominion Bank’s holdings in SEI Investments were worth $2,951,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Boston Trust Walden Corp grew its position in SEI Investments by 1.9% in the 4th quarter. Boston Trust Walden Corp now owns 1,314,965 shares of the asset manager’s stock valued at $83,566,000 after acquiring an additional 24,621 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of SEI Investments by 1.6% in the fourth quarter. Brown Advisory Inc. now owns 692,337 shares of the asset manager’s stock valued at $43,998,000 after purchasing an additional 10,700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of SEI Investments by 1.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 655,418 shares of the asset manager’s stock valued at $41,652,000 after purchasing an additional 12,453 shares in the last quarter. Hsbc Holdings PLC increased its stake in SEI Investments by 0.8% during the 4th quarter. Hsbc Holdings PLC now owns 551,474 shares of the asset manager’s stock worth $35,049,000 after buying an additional 4,212 shares during the period. Finally, Norges Bank acquired a new stake in SEI Investments during the 4th quarter worth approximately $32,161,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 70,000 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $68.62, for a total value of $4,803,400.00. Following the transaction, the chairman now directly owns 7,795,471 shares of the company’s stock, valued at approximately $534,925,220.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Chairman Alfred P. West, Jr. sold 70,000 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $68.62, for a total value of $4,803,400.00. Following the completion of the sale, the chairman now directly owns 7,795,471 shares of the company’s stock, valued at approximately $534,925,220.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Doran sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $67.04, for a total value of $335,200.00. Following the transaction, the director now owns 656,386 shares in the company, valued at approximately $44,004,117.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 123,000 shares of company stock valued at $8,406,920. 14.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $73.00 price objective (down previously from $74.00) on shares of SEI Investments in a research report on Thursday. Oppenheimer upped their price target on SEI Investments from $77.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, April 9th. Finally, Piper Sandler decreased their price objective on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday. One equities 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 company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.25.

SEI Investments Trading Up 1.2 %

Shares of SEIC stock opened at $66.88 on Friday. The company has a market cap of $8.79 billion, a P/E ratio of 18.27, a PEG ratio of 1.33 and a beta of 0.99. The firm has a fifty day moving average price of $66.32 and a 200 day moving average price of $66.94. SEI Investments has a 12 month low of $52.19 and a 12 month high of $72.54.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The business had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. During the same period in the prior year, the firm posted $0.89 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, equities analysts forecast that SEI Investments will post 4.18 EPS for the current year.

SEI Investments Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Monday, June 10th were paid a $0.46 dividend. This is a positive change from SEI Investments’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend was Monday, June 10th. SEI Investments’s dividend payout ratio is currently 25.14%.

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.