Arbejdsmarkedets Tillaegspension Purchases New Shares in SEI Investments Company $SEIC

Key Points

• Arbejdsmarkedets Tillaegspension opened a new position in SEI Investments, buying 285,176 shares valued at about $23.39 million and representing roughly 0.23% of the company.
• SEI Investments reported strong quarterly earnings, posting $1.44 EPS and beating analyst estimates, while revenue rose 12.9% year over year to $622.18 million.
• Analysts remain upbeat on the stock, with a Moderate Buy consensus and an average price target of $103, even as insiders recently sold shares.

Arbejdsmarkedets Tillaegspension acquired a new position in SEI Investments Company (NASDAQ:SEIC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 285,176 shares of the asset manager's stock, valued at approximately $23,390,000. Arbejdsmarkedets Tillaegspension owned approximately 0.23% of SEI Investments as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Root Financial Partners LLC acquired a new position in shares of SEI Investments in the 3rd quarter worth approximately $28,000. Community Bank N.A. bought a new stake in SEI Investments in the third quarter worth approximately $35,000. Allworth Financial LP boosted its holdings in shares of SEI Investments by 44.0% during the 3rd quarter. Allworth Financial LP now owns 432 shares of the asset manager's stock worth $37,000 after buying an additional 132 shares in the last quarter. CIBC Private Wealth Group LLC grew its position in shares of SEI Investments by 353.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 435 shares of the asset manager's stock worth $37,000 after buying an additional 339 shares during the period. Finally, Geneos Wealth Management Inc. increased its stake in shares of SEI Investments by 60.2% in the 1st quarter. Geneos Wealth Management Inc. now owns 532 shares of the asset manager's stock valued at $41,000 after acquiring an additional 200 shares in the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Trading Down 1.2%

Shares of SEIC opened at $90.58 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 4.52 and a quick ratio of 4.40. SEI Investments Company has a 1-year low of $75.08 and a 1-year high of $93.96. The company has a market capitalization of $10.89 billion, a P/E ratio of 15.46 and a beta of 1.00. The firm's 50 day simple moving average is $82.46 and its 200 day simple moving average is $82.74.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.15. The firm had revenue of $622.18 million for the quarter, compared to analysts' expectations of $641.82 million. SEI Investments had a net margin of 31.17% and a return on equity of 30.70%. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter last year, the company posted $1.17 EPS. Sell-side analysts forecast that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on SEIC. UBS Group initiated coverage on SEI Investments in a research report on Wednesday, February 4th. They issued a "buy" rating and a $115.00 target price for the company. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Piper Sandler reaffirmed an "overweight" rating and issued a $105.00 price target (up from $99.00) on shares of SEI Investments in a research report on Thursday, April 23rd. Raymond James Financial reaffirmed an "outperform" rating and set a $82.00 target price on shares of SEI Investments in a research report on Wednesday, April 29th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research note on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $103.00.

Insider Transactions at SEI Investments

In other news, insider Philip Mccabe sold 15,000 shares of SEI Investments stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $91.82, for a total value of $1,377,300.00. Following the sale, the insider directly owned 54,884 shares in the company, valued at approximately $5,039,448.88. This trade represents a 21.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kathryn Mccarthy sold 10,000 shares of SEI Investments stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the sale, the director directly owned 77,883 shares in the company, valued at approximately $7,092,804.81. The trade was a 11.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 120,447 shares of company stock worth $10,235,499. Company insiders own 4.80% of the company's stock.

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.

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