Nomura Holdings Inc. Makes New $1.07 Million Investment in SEI Investments (NASDAQ:SEIC)

Nomura Holdings Inc. bought a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 13,000 shares of the asset manager's stock, valued at approximately $1,072,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SEIC. CoreFirst Bank & Trust acquired a new stake in SEI Investments in the 4th quarter valued at approximately $31,000. Allworth Financial LP grew its holdings in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after buying an additional 158 shares during the last quarter. First Horizon Advisors Inc. lifted 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 during the period. Rialto Wealth Management LLC bought a new stake in shares of SEI Investments in the 4th quarter worth approximately $55,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Performance

Shares of NASDAQ SEIC traded down $0.55 during midday trading on Friday, reaching $83.92. 810,970 shares of the company traded hands, compared to its average volume of 675,781. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The firm has a market cap of $10.45 billion, a PE ratio of 18.99, a PEG ratio of 1.41 and a beta of 0.90. The stock's 50-day simple moving average is $77.12 and its 200-day simple moving average is $80.10.

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

SEI Investments announced that its Board of Directors has approved a share buyback program on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have weighed in on SEIC. Keefe, Bruyette & Woods upped their price target on SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research report on Friday, April 25th. Piper Sandler lifted their price objective on SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a report on Thursday, April 24th. William Blair reissued a "market perform" rating on shares of SEI Investments in a report on Thursday, April 24th. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a report on Tuesday. Finally, Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, SEI Investments presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.60.

Insider Activity

In other news, EVP Michael Peterson sold 50,000 shares of the firm's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $84.27, for a total value of $4,213,500.00. Following the completion of the sale, the executive vice president now directly owns 13,500 shares in the company, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. The trade was a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is owned by corporate insiders.

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.