Nordea Investment Management AB lifted its holdings in SEI Investments (NASDAQ:SEIC – Get Rating) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,619 shares of the asset manager’s stock after purchasing an additional 655 shares during the quarter. Nordea Investment Management AB’s holdings in SEI Investments were worth $618,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of SEIC. Harel Insurance Investments & Financial Services Ltd. bought a new stake in SEI Investments in the fourth quarter worth $42,000. Wipfli Financial Advisors LLC bought a new stake in SEI Investments in the third quarter worth $40,000. Bessemer Group Inc. lifted its position in SEI Investments by 790.8% in the third quarter. Bessemer Group Inc. now owns 1,158 shares of the asset manager’s stock worth $57,000 after buying an additional 1,028 shares during the last quarter. Mendota Financial Group LLC bought a new stake in SEI Investments in the fourth quarter worth $86,000. Finally, Twin Tree Management LP lifted its position in SEI Investments by 103.7% in the third quarter. Twin Tree Management LP now owns 1,869 shares of the asset manager’s stock worth $92,000 after buying an additional 52,176 shares during the last quarter. 69.45% of the stock is owned by hedge funds and other institutional investors.
SEI Investments Price Performance
SEIC opened at $58.76 on Monday. The business’s 50-day moving average is $57.43 and its two-hundred day moving average is $59.31. SEI Investments has a 1 year low of $46.30 and a 1 year high of $64.69. The firm has a market capitalization of $7.83 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.45 and a beta of 1.01.
SEI Investments announced that its board has initiated a share repurchase plan on Tuesday, April 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 3.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.
Analyst Ratings Changes
Several research firms recently weighed in on SEIC. StockNews.com began coverage on SEI Investments in a report on Thursday, March 16th. They issued a “hold” rating for the company. Morgan Stanley lifted their price objective on SEI Investments from $54.00 to $58.00 and gave the company an “underweight” rating in a report on Monday, April 3rd. Piper Sandler began coverage on SEI Investments in a report on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 price objective for the company. Finally, Oppenheimer restated an “outperform” rating and issued a $68.00 price objective on shares of SEI Investments in a report on Tuesday, April 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.80.
Insider Activity at SEI Investments
In other SEI Investments news, Director Sarah Blumenstein sold 24,454 shares of the business’s stock in a transaction that occurred on Friday, February 17th. The stock was sold at an average price of $61.25, for a total value of $1,497,807.50. Following the completion of the transaction, the director now directly owns 6,447 shares of the company’s stock, valued at $394,878.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other SEI Investments news, Director Sarah Blumenstein sold 24,454 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $61.25, for a total value of $1,497,807.50. Following the completion of the sale, the director now directly owns 6,447 shares in the company, valued at approximately $394,878.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 15,659 shares of the company’s stock in a transaction on Wednesday, March 29th. The shares were sold at an average price of $56.06, for a total value of $877,843.54. Following the completion of the sale, the chairman now owns 8,568,128 shares of the company’s stock, valued at $480,329,255.68. The disclosure for this sale can be found here. Insiders have sold a total of 153,021 shares of company stock worth $8,684,881 over the last quarter. Insiders own 25.40% of the company’s stock.
SEI Investments Profile
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
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