DnB Asset Management AS Buys 450 Shares of SEI Investments (NASDAQ:SEIC)

DnB Asset Management AS increased its position in shares of SEI Investments (NASDAQ:SEIC) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,925 shares of the asset manager’s stock after buying an additional 450 shares during the quarter. DnB Asset Management AS’s holdings in SEI Investments were worth $1,808,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new position in shares of SEI Investments during the 4th quarter worth about $31,000. Allworth Financial LP lifted its stake in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after purchasing an additional 158 shares during the period. First Horizon Advisors Inc. boosted its holdings in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 117 shares in the last quarter. Point72 DIFC Ltd bought a new stake in shares of SEI Investments in the 3rd quarter valued at approximately $45,000. Finally, Rialto Wealth Management LLC acquired a new position in shares of SEI Investments in the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Trading Down 0.5 %

Shares of SEIC stock opened at $77.28 on Wednesday. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of 17.48, a PEG ratio of 1.41 and a beta of 0.94. The firm’s 50 day moving average is $80.08 and its 200-day moving average is $78.67. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, equities research analysts forecast that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 over the last three months. 14.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.