diff --git a/pandas/core/groupby/groupby.py b/pandas/core/groupby/groupby.py
index 6e26e9a43bb2a..ae3612c99d5cd 100644
--- a/pandas/core/groupby/groupby.py
+++ b/pandas/core/groupby/groupby.py
@@ -1600,10 +1600,8 @@ def sem(self, ddof: int = 1):
             cols = result.columns.get_indexer_for(
                 result.columns.difference(self.exclusions).unique()
             )
-            # TODO(GH-22046) - setting with iloc broken if labels are not unique
-            # .values to remove labels
-            result.iloc[:, cols] = (
-                result.iloc[:, cols].values / np.sqrt(self.count().iloc[:, cols]).values
+            result.iloc[:, cols] = result.iloc[:, cols] / np.sqrt(
+                self.count().iloc[:, cols]
             )
         return result