BI Asset Management Fondsmaeglerselskab A S Acquires 8,450 Shares of SEI Investments (NASDAQ:SEIC)

BI Asset Management Fondsmaeglerselskab A S boosted its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 47.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,382 shares of the asset manager's stock after acquiring an additional 8,450 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in SEI Investments were worth $2,176,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. King Luther Capital Management Corp acquired a new position in SEI Investments in the fourth quarter valued at approximately $2,645,000. Boston Trust Walden Corp lifted its stake in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after buying an additional 20,020 shares during the period. Longboard Asset Management LP acquired a new position in SEI Investments in the fourth quarter valued at approximately $267,000. New York Life Investment Management LLC acquired a new position in SEI Investments in the fourth quarter valued at approximately $863,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new position in SEI Investments in the fourth quarter valued at approximately $1,818,000. 70.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SEIC has been the topic of a number of research reports. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a research report on Thursday. Keefe, Bruyette & Woods upped their target price on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research report on Friday. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research report on Thursday. Morgan Stanley reaffirmed an "overweight" rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a research report on Thursday. Finally, StockNews.com raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $87.60.

SEI Investments Stock Down 0.1 %

SEI Investments stock traded down $0.11 during midday trading on Friday, hitting $78.59. 775,073 shares of the stock were exchanged, compared to its average volume of 652,130. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The stock has a market capitalization of $9.88 billion, a price-to-earnings ratio of 17.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The business's 50-day moving average price is $75.24 and its 200-day moving average price is $79.04.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The business had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. On average, sell-side analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its Board of Directors has approved a stock repurchase 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 reacquire up to 5.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments 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 completion of the sale, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by 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.