Forsta AP Fonden Purchases New Position in SEI Investments Company (NASDAQ:SEIC)

Key Points

• Forsta AP Fonden acquired 23,900 shares of SEI Investments, worth approximately $1,855,000, marking a new position in the asset management firm.
• Institutional investors collectively own 70.59% of SEI Investments' stock, with significant increases in holdings from firms like Headlands Technologies and Ontario Teachers Pension Plan Board in the first quarter.
• SEI Investments reported $1.78 EPS for the last quarter, exceeding estimates and showing a revenue increase of 7.8% year-over-year.

Forsta AP Fonden bought a new position in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 23,900 shares of the asset manager's stock, valued at approximately $1,855,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SEIC. Versant Capital Management Inc grew its stake in shares of SEI Investments by 156.1% in the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of SEI Investments by 38.9% in the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after purchasing an additional 225 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of SEI Investments by 104.3% in the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after purchasing an additional 681 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position in SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock valued at $106,000 after acquiring an additional 1,282 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new stake in SEI Investments during the first quarter valued at $132,000. Institutional investors own 70.59% of the company's stock.

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $88.75, for a total value of $443,750.00. Following the transaction, the insider owned 1,300 shares in the company, valued at approximately $115,375. The trade was a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 75,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $85.78, for a total transaction of $6,433,500.00. Following the completion of the transaction, the chairman owned 7,003,708 shares in the company, valued at $600,778,072.24. The trade was a 1.06% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 146,126 shares of company stock worth $12,450,349. 14.60% of the stock is owned by corporate insiders.

SEI Investments Price Performance

NASDAQ:SEIC traded down $0.62 during trading hours on Friday, hitting $88.19. The stock had a trading volume of 750,963 shares, compared to its average volume of 878,062. The company has a 50 day simple moving average of $88.60 and a two-hundred day simple moving average of $82.39. SEI Investments Company has a one year low of $64.66 and a one year high of $93.96. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 1.37 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. The company had revenue of $559.60 million during the quarter, compared to the consensus estimate of $550.72 million. SEI Investments had a net margin of 31.25% and a return on equity of 29.96%. The firm's revenue was up 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.05 EPS. Equities research analysts anticipate that SEI Investments Company will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date was Monday, June 9th. This is a boost from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is 18.39%.

Analyst Ratings Changes

A number of brokerages have commented on SEIC. Morgan Stanley reaffirmed an "overweight" rating and set a $100.00 price target (up previously from $84.00) on shares of SEI Investments in a research report on Thursday, June 26th. Piper Sandler cut their price target on shares of SEI Investments from $96.00 to $93.00 and set a "neutral" rating on the stock in a research report on Thursday, July 24th. Oppenheimer upped their price target on shares of SEI Investments from $96.00 to $101.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Raymond James Financial upped their price objective on shares of SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, SEI Investments has a consensus rating of "Moderate Buy" and a consensus price target of $102.00.

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.