Handelsbanken Fonder AB Has $2.32 Million Holdings in SEI Investments Company (NASDAQ:SEIC)

Handelsbanken Fonder AB raised its stake in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 31.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,900 shares of the asset manager's stock after acquiring an additional 7,200 shares during the quarter. Handelsbanken Fonder AB's holdings in SEI Investments were worth $2,321,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new position in shares of SEI Investments during the fourth quarter worth about $31,000. Allworth Financial LP lifted its holdings 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 buying an additional 158 shares during the last quarter. Versant Capital Management Inc lifted its holdings in SEI Investments by 156.1% during the 1st quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after buying an additional 331 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares in the last quarter. Finally, Rialto Wealth Management LLC bought a new stake in shares of SEI Investments in the 4th quarter valued at approximately $55,000. 70.59% of the stock is owned by institutional investors and hedge funds.

SEI Investments Stock Performance

Shares of SEI Investments stock traded down $0.11 during trading on Wednesday, hitting $83.44. 378,828 shares of the stock were exchanged, compared to its average volume of 724,048. The stock has a market cap of $10.39 billion, a PE ratio of 18.15, a P/E/G ratio of 1.50 and a beta of 0.91. The stock's fifty day moving average is $80.54 and its 200 day moving average is $80.52. SEI Investments Company has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating the consensus estimate of $1.12 by $0.05. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. SEI Investments had a net margin of 27.77% and a return on equity of 26.40%. SEI Investments's revenue was up 7.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.99 earnings per share. Sell-side analysts anticipate that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 17th. Stockholders of record on Monday, June 9th were paid a $0.49 dividend. This is a boost from SEI Investments's previous quarterly dividend of $0.46. The ex-dividend date was Monday, June 9th. This represents a $1.96 annualized dividend and a dividend yield of 2.35%. SEI Investments's dividend payout ratio is presently 21.30%.

SEI Investments announced that its board has authorized a stock repurchase program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities analysts have commented on SEIC shares. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a report on Thursday, April 24th. Morgan Stanley set a $84.00 price target on shares of SEI Investments and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Piper Sandler increased their price objective on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Finally, Keefe, Bruyette & Woods lifted their target price on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday, April 25th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat.com, SEI Investments currently has an average rating of "Moderate Buy" and a consensus target price of $88.00.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 66,126 shares of SEI Investments stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $84.28, for a total value of $5,573,099.28. Following the transaction, the chairman now owns 6,937,582 shares of the company's stock, valued at $584,699,410.96. The trade was a 0.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sanjay Sharma sold 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the sale, the insider now owns 23,895 shares of the company's stock, valued at $1,992,843. The trade was a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 232,126 shares of company stock valued at $19,638,659. Company insiders own 14.30% 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.