First Hawaiian Bank Decreases Stock Holdings in SEI Investments (NASDAQ:SEIC)

First Hawaiian Bank decreased its position in SEI Investments (NASDAQ:SEIC) by 33.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,763 shares of the asset manager’s stock after selling 3,373 shares during the quarter. First Hawaiian Bank’s holdings in SEI Investments were worth $558,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after acquiring an additional 300,704 shares during the period. Dimensional Fund Advisors LP increased its position in shares of SEI Investments by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,380,311 shares of the asset manager’s stock valued at $89,291,000 after acquiring an additional 222,631 shares during the period. FMR LLC increased its position in shares of SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock valued at $61,241,000 after acquiring an additional 632,024 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of SEI Investments by 2.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,187 shares of the asset manager’s stock valued at $37,791,000 after acquiring an additional 10,576 shares during the period. Finally, Raymond James & Associates increased its position in shares of SEI Investments by 3.8% during the third quarter. Raymond James & Associates now owns 544,477 shares of the asset manager’s stock valued at $37,672,000 after buying an additional 19,846 shares during the period. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

SEIC has been the topic of several research analyst reports. 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 report on Friday, December 20th. Piper Sandler boosted their price target 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. Morgan Stanley boosted their price target on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research report on Friday, January 3rd. Finally, Oppenheimer boosted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $86.75.

Insider Transactions at SEI Investments

In other news, EVP Michael Peterson sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total value of $1,864,750.00. Following the transaction, the executive vice president now owns 6,500 shares in the company, valued at approximately $484,835. This represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 19,010 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $82.49, for a total transaction of $1,568,134.90. Following the completion of the transaction, the chairman now owns 7,377,506 shares in the company, valued at approximately $608,570,469.94. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 239,258 shares of company stock worth $19,753,402. Corporate insiders own 14.30% of the company’s stock.

SEI Investments Price Performance

NASDAQ:SEIC opened at $79.00 on Friday. SEI Investments has a one year low of $62.34 and a one year high of $87.25. The company’s 50-day simple moving average is $82.02 and its 200 day simple moving average is $72.85. The firm has a market capitalization of $10.18 billion, a P/E ratio of 19.08, 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 EPS for the quarter, topping the consensus estimate of $1.07 by $0.12. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. The business had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. During the same quarter in the previous year, the firm posted $0.87 earnings per share. SEI Investments’s quarterly revenue was up 12.7% on a year-over-year basis. On average, equities research analysts expect that SEI Investments will post 4.41 earnings per share for the current fiscal year.

SEI Investments Increases Dividend

The firm 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 positive change from SEI Investments’s previous semi-annual dividend of $0.46. SEI Investments’s payout ratio is presently 23.67%.

SEI Investments declared that its Board of Directors has initiated a stock repurchase program on Tuesday, October 22nd that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the asset manager to reacquire up to 4.3% of its stock through open market purchases. Stock repurchase programs are usually 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.