Norges Bank Takes $53.55 Million Position in SEI Investments Company $SEIC

Norges Bank purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC) during the fourth quarter, Holdings Channel reports. The fund purchased 652,868 shares of the asset manager’s stock, valued at approximately $53,548,000.

A number of other hedge funds have also recently made changes to their positions in SEIC. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of SEI Investments during the fourth quarter valued at about $43,186,000. Qube Research & Technologies Ltd boosted its stake in shares of SEI Investments by 82.5% during the third quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager’s stock valued at $65,061,000 after purchasing an additional 346,696 shares in the last quarter. Caisse de depot et placement du Quebec lifted its stake in shares of SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager’s stock worth $114,018,000 after acquiring an additional 317,703 shares during the period. Arbejdsmarkedets Tillaegspension acquired a new position in shares of SEI Investments in the fourth quarter worth approximately $23,390,000. Finally, Prana Capital Management LP lifted its stake in shares of SEI Investments by 60.8% in the third quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager’s stock worth $60,355,000 after acquiring an additional 269,023 shares during the period. 70.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SEIC shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of SEI Investments in a research note on Tuesday, April 21st. Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a research note on Thursday, April 23rd. Piper Sandler reaffirmed an “overweight” rating and issued a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Morgan Stanley cut their price objective on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $82.00 price objective on shares of SEI Investments in a research note on Wednesday, April 29th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $103.00.

Insider Transactions at SEI Investments

In other news, insider Mark Andrew Warner sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total transaction of $364,640.00. Following the completion of the sale, the insider owned 921 shares in the company, valued at $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the sale, the chairman owned 6,883,230 shares of the company’s stock, valued at approximately $552,241,542.90. This represents a 0.79% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 116,447 shares of company stock valued at $9,908,539. 4.80% of the stock is owned by insiders.

SEI Investments Price Performance

Shares of SEIC opened at $89.42 on Monday. SEI Investments Company has a 52-week low of $75.08 and a 52-week high of $93.96. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The business’s 50 day moving average price is $85.56 and its two-hundred day moving average price is $83.56. The firm has a market cap of $10.75 billion, a PE ratio of 15.26 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same period in the previous year, the firm earned $1.17 earnings per share. The company’s revenue was up 12.9% compared to the same quarter last year. On average, equities analysts anticipate that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, June 8th. This represents a yield of 116.0%. SEI Investments’s payout ratio is 17.75%.

SEI Investments Profile

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.