SEI Investments (NASDAQ:SEIC) Shares Sold by Deutsche Bank AG

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

Other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in SEI Investments by 25.4% during the 4th 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. Venturi Wealth Management LLC lifted its position in SEI Investments by 7.3% during the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock valued at $174,000 after purchasing an additional 144 shares during the period. Ashton Thomas Securities LLC boosted its holdings in SEI Investments by 2.5% in the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock valued at $492,000 after purchasing an additional 145 shares during the last quarter. Principal Securities Inc. grew its position in SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after purchasing an additional 155 shares during the period. Finally, Allworth Financial LP grew its position 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 purchasing an additional 158 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Performance

SEI Investments stock traded up $0.17 during trading on Monday, reaching $85.55. The company had a trading volume of 884,573 shares, compared to its average volume of 667,114. The firm has a market capitalization of $10.65 billion, a PE ratio of 19.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The firm's 50-day simple moving average is $76.04 and its 200 day simple moving average is $79.86. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping 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 business had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. During the same quarter in the previous year, the company earned $0.99 earnings per share. The company's quarterly revenue was up 7.8% on a year-over-year basis. Analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SEIC shares. Morgan Stanley restated an "overweight" rating and issued a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. StockNews.com raised shares of SEI Investments from a "hold" rating to a "buy" rating in a research note on Saturday, May 10th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Finally, Piper Sandler boosted their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. Three equities 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 currently has an average rating of "Moderate Buy" and an average price target of $87.60.

Insiders Place Their Bets

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the transaction, the chairman now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 170,214 shares of company stock worth $13,925,963. Corporate insiders own 14.60% of the company's stock.

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.