DnB Asset Management AS Has $1.81 Million Stock Holdings in SEI Investments (NASDAQ:SEIC)

DnB Asset Management AS boosted its position in shares of SEI Investments (NASDAQ:SEIC) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 21,925 shares of the asset manager’s stock after purchasing an additional 450 shares during the quarter. DnB Asset Management AS’s holdings in SEI Investments were worth $1,808,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SEIC. CoreFirst Bank & Trust bought a new position in shares of SEI Investments during the fourth quarter worth $31,000. Allworth Financial LP raised its stake in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after buying an additional 158 shares during the period. Point72 DIFC Ltd bought a new position in SEI Investments during the third quarter worth about $45,000. First Horizon Advisors Inc. grew its stake in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager’s stock valued at $48,000 after acquiring an additional 117 shares during the period. Finally, Rialto Wealth Management LLC bought a new stake in shares of SEI Investments in the fourth quarter worth about $55,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Trading Down 0.5 %

Shares of SEIC opened at $77.28 on Wednesday. The stock 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. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The firm has a fifty day simple moving average of $80.08 and a 200 day simple moving average of $78.67.

SEI Investments (NASDAQ:SEIC) last posted 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 return on equity of 25.51% and a net margin of 27.35%. As a group, research analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments declared that its Board of Directors has authorized a share repurchase program on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on SEIC shares. Oppenheimer lifted their price objective on 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 target on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report 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. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Raymond James raised SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $90.00.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares in the company, valued at $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. 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 ninety days. 14.30% of the stock is currently owned by corporate insiders.

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.