Deutsche Bank AG Trims Stock Holdings in SEI Investments (NASDAQ:SEIC)

Deutsche Bank AG lowered its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 55.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 152,402 shares of the asset manager's stock after selling 188,710 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of SEI Investments worth $12,570,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SEIC. CoreFirst Bank & Trust acquired a new position in SEI Investments during the fourth quarter worth $31,000. Allworth Financial LP lifted its position in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after buying an additional 158 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares during the last quarter. Rialto Wealth Management LLC purchased a new stake in SEI Investments in the fourth quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of SEI Investments by 25.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after purchasing an additional 172 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. This represents a 1.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,214 shares of company stock worth $13,925,963. Company insiders own 14.60% of the company's stock.

SEI Investments Stock Performance

NASDAQ:SEIC traded down $0.55 during mid-day trading on Wednesday, hitting $85.04. The company had a trading volume of 138,619 shares, compared to its average volume of 721,194. The firm has a market cap of $10.59 billion, a P/E ratio of 19.25, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The business's fifty day moving average is $76.55 and its two-hundred day moving average is $79.97.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. During the same quarter in the previous year, the firm posted $0.99 earnings per share. The business's revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley reissued an "overweight" rating and set a $82.00 price objective (up from $77.00) on shares of SEI Investments in a research report on Thursday, April 24th. Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods boosted their price target on SEI Investments from $80.00 to $84.00 and gave the stock a "market perform" rating in a research note on Friday, April 25th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, SEI Investments presently has a consensus rating of "Moderate Buy" and an average target price of $87.60.

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.