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

Handelsbanken Fonder AB boosted its position in SEI Investments (NASDAQ:SEIC - Free Report) by 31.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,900 shares of the asset manager's stock after purchasing an additional 7,200 shares during the period. Handelsbanken Fonder AB's holdings in SEI Investments were worth $2,321,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. CoreFirst Bank & Trust acquired a new position in shares of SEI Investments during the fourth quarter valued at about $31,000. Allworth Financial LP raised its stake 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 period. Versant Capital Management Inc boosted its holdings in 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 acquiring an additional 331 shares in the last quarter. First Horizon Advisors Inc. grew its stake in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after acquiring an additional 117 shares during the period. Finally, Rialto Wealth Management LLC bought a new stake in shares of SEI Investments during the fourth quarter valued at approximately $55,000. Institutional investors own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SEIC. William Blair reiterated a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Piper Sandler boosted their price target on shares of SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Keefe, Bruyette & Woods increased their price objective on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a report on Friday, April 25th. Morgan Stanley set a $84.00 price target on shares of SEI Investments and gave the company an "overweight" rating in a research report on Tuesday, June 3rd. Finally, Oppenheimer reiterated an "outperform" rating on shares of SEI Investments in a research report on Thursday, April 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $88.00.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 75,000 shares of SEI Investments stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $85.78, for a total value of $6,433,500.00. Following the transaction, the chairman now owns 7,003,708 shares in the company, valued at approximately $600,778,072.24. The trade was a 1.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.40, for a total value 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. This represents a 45.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 232,126 shares of company stock worth $19,638,659 over the last ninety days. Insiders own 14.30% of the company's stock.

SEI Investments Stock Performance

SEI Investments stock opened at $82.99 on Friday. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The stock has a market cap of $10.33 billion, a P/E ratio of 18.78, a price-to-earnings-growth ratio of 1.41 and a beta of 0.91. The firm's fifty day moving average price is $79.98 and its 200-day moving average price is $80.50.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. The firm had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.99 EPS. On average, analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Monday, June 9th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Monday, June 9th. This represents a $1.96 annualized dividend and a yield of 2.36%. This is a positive change from SEI Investments's previous quarterly dividend of $0.46. SEI Investments's dividend payout ratio is currently 21.30%.

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

About SEI Investments

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.

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