Danske Bank A S Decreases Stake in SEI Investments Company $SEIC

Key Points

• Danske Bank A/S reduced its stake in SEI Investments by 61.3%, selling 32,762 shares and leaving it with 20,685 shares valued at about $1.70 million.
• Company insiders sold a total of 120,447 shares worth approximately $10.24 million last quarter, including Chairman Alfred P. West Jr.'s sale of 55,000 shares, leaving insiders with a 4.80% ownership stake.
• SEI reported Q1 EPS $1.44 (above estimates) but missed revenue expectations, and analysts maintain a "Moderate Buy" consensus with a $103 average price target.

Danske Bank A S reduced its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 61.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,685 shares of the asset manager's stock after selling 32,762 shares during the quarter. Danske Bank A S's holdings in SEI Investments were worth $1,697,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Qube Research & Technologies Ltd lifted its stake in SEI Investments by 82.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 766,775 shares of the asset manager's stock valued at $65,061,000 after acquiring an additional 346,696 shares during the period. Caisse de depot et placement du Quebec grew its stake in shares of SEI Investments by 31.0% in the third quarter. Caisse de depot et placement du Quebec now owns 1,343,757 shares of the asset manager's stock worth $114,018,000 after acquiring an additional 317,703 shares during the period. Prana Capital Management LP raised its holdings in shares of SEI Investments by 60.8% during the third quarter. Prana Capital Management LP now owns 711,311 shares of the asset manager's stock valued at $60,355,000 after purchasing an additional 269,023 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of SEI Investments by 37.2% during the third quarter. Ameriprise Financial Inc. now owns 815,694 shares of the asset manager's stock valued at $69,206,000 after purchasing an additional 221,033 shares during the last quarter. Finally, UBS Group AG lifted its position in SEI Investments by 43.4% during the fourth quarter. UBS Group AG now owns 636,192 shares of the asset manager's stock valued at $52,180,000 after purchasing an additional 192,470 shares during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Weiss Ratings restated a "buy (b)" rating on shares of SEI Investments in a report on Tuesday, April 21st. UBS Group initiated coverage on SEI Investments in a report on Wednesday, February 4th. They set a "buy" rating and a $115.00 price target on the stock. Keefe, Bruyette & Woods lifted their price objective on SEI Investments from $95.00 to $107.00 and gave the stock an "outperform" rating in a report on Thursday, April 23rd. Morgan Stanley cut their price objective on SEI Investments from $119.00 to $108.00 and set an "overweight" rating for the company in a report on Thursday, April 2nd. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $82.00 price objective on shares of SEI Investments in a report on Wednesday, April 29th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $103.00.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 55,000 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the completion of the sale, the chairman directly owned 6,883,230 shares of the company's stock, valued at approximately $552,241,542.90. This represents a 0.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Kathryn Mccarthy sold 10,000 shares of the stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00. Following the completion of the sale, the director directly owned 77,883 shares of the company's stock, valued at $7,092,804.81. This represents a 11.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 120,447 shares of company stock worth $10,235,499 in the last quarter. Company insiders own 4.80% of the company's stock.

SEI Investments Price Performance

Shares of SEI Investments stock opened at $90.79 on Wednesday. SEI Investments Company has a one year low of $75.08 and a one year high of $93.96. The stock's fifty day moving average is $80.90 and its 200 day moving average is $82.20. The stock has a market cap of $10.92 billion, a P/E ratio of 15.49 and a beta of 1.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 4.40 and a current ratio of 4.52.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 EPS 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 analysts' expectations of $641.82 million. During the same period last year, the firm earned $1.17 EPS. SEI Investments's revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts anticipate that SEI Investments Company will post 5.9 earnings per share for the current year.

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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