BI Asset Management Fondsmaeglerselskab A S Makes New $5.53 Million Investment in SEI Investments Company $SEIC

Key Points

• BI Asset Management Fondsmaeglerselskab A S opened a new position in SEI Investments during the first quarter, buying 70,449 shares worth about $5.53 million.
• SEI Investments reported better-than-expected quarterly earnings of $1.44 per share, though revenue of $622.2 million came in below analyst estimates; revenue was still up 12.9% from a year earlier.
• Several insiders sold shares in recent months, while analysts remain mostly positive with a Moderate Buy consensus and an average price target of $103.

BI Asset Management Fondsmaeglerselskab A S bought a new stake in SEI Investments Company (NASDAQ:SEIC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 70,449 shares of the asset manager's stock, valued at approximately $5,528,000. BI Asset Management Fondsmaeglerselskab A S owned about 0.06% of SEI Investments as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Bison Wealth LLC acquired a new position in shares of SEI Investments during the 4th quarter worth $207,000. Baird Financial Group Inc. acquired a new stake in SEI Investments in the 1st quarter valued at about $201,000. Geneos Wealth Management Inc. grew its stake in 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 during the last quarter. M&T Bank Corp increased its holdings in SEI Investments by 11.9% during the 2nd quarter. M&T Bank Corp now owns 3,217 shares of the asset manager's stock valued at $289,000 after acquiring an additional 341 shares in the last quarter. Finally, CW Advisors LLC purchased a new position in SEI Investments during the 2nd quarter valued at about $280,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insiders Place Their Bets

In other SEI Investments news, insider Sanjay Sharma sold 25,000 shares of SEI Investments stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $90.12, for a total value of $2,253,000.00. Following the completion of the sale, the insider owned 39,829 shares in the company, valued at $3,589,389.48. The trade was a 38.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the company's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $91.07, for a total transaction of $910,700.00. Following the transaction, the director directly owned 77,883 shares of the company's stock, valued at approximately $7,092,804.81. This represents a 11.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 54,000 shares of company stock valued at $4,905,640. 4.80% of the stock is owned by corporate insiders.

SEI Investments Stock Up 1.2%

SEIC stock opened at $90.51 on Tuesday. The company has a 50 day moving average price of $88.34 and a two-hundred day moving average price of $84.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52. The stock has a market capitalization of $10.89 billion, a P/E ratio of 15.45 and a beta of 0.97. SEI Investments Company has a one year low of $75.08 and a one year high of $93.96.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The company had revenue of $622.18 million for the quarter, compared to analyst estimates of $641.82 million. During the same quarter in the prior year, the company posted $1.17 EPS. The business's revenue for the quarter was up 12.9% compared to the same quarter last year. As a group, sell-side analysts expect that SEI Investments Company will post 5.89 EPS for the current year.

SEI Investments Announces Dividend

The firm also recently announced a dividend, which was paid on Tuesday, June 16th. Investors of record on Monday, June 8th were paid a $0.52 dividend. This represents a yield of 118.0%. The ex-dividend date was Monday, June 8th. SEI Investments's dividend payout ratio is presently 17.75%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $82.00 price target on shares of SEI Investments in a report on Wednesday, April 29th. Weiss Ratings reiterated a "buy (b)" rating on shares of SEI Investments in a research report on Tuesday, April 21st. Piper Sandler reissued an "overweight" rating and set a $105.00 price objective (up from $99.00) on shares of SEI Investments in a research note on Thursday, April 23rd. Morgan Stanley reduced their target price on SEI Investments from $119.00 to $108.00 and set an "overweight" rating on the stock in a research note on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods raised their price target on SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a research report on Thursday, April 23rd. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, SEI Investments has a consensus rating of "Moderate Buy" and an average price target of $103.00.

About SEI Investments

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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