BI Asset Management Fondsmaeglerselskab A S Boosts Position in SEI Investments Company $SEIC

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its position in SEI Investments by 166.4% in Q1, acquiring a total of 70,272 shares valued at approximately $5.5 million.
• Insiders have sold a total of 181,126 shares valued at $15.5 million over the last ninety days, with significant sales from Chairman Alfred P. West, Jr. and insider Mark Andrew Warner.
• The company reported earnings of $1.78 per share, surpassing analyst expectations, and increased its quarterly dividend to $0.49, marking a boost from the previous $0.46.

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of SEI Investments Company (NASDAQ:SEIC - Free Report) by 166.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,272 shares of the asset manager's stock after purchasing an additional 43,890 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.06% of SEI Investments worth $5,455,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its stake in SEI Investments by 156.1% during the first quarter. Versant Capital Management Inc now owns 543 shares of the asset manager's stock worth $42,000 after purchasing an additional 331 shares during the last quarter. First Horizon Advisors Inc. increased its position in SEI Investments by 38.9% during the first quarter. First Horizon Advisors Inc. now owns 803 shares of the asset manager's stock worth $62,000 after buying an additional 225 shares during the period. Farther Finance Advisors LLC increased its position in SEI Investments by 104.3% during the first quarter. Farther Finance Advisors LLC now owns 1,334 shares of the asset manager's stock worth $103,000 after buying an additional 681 shares during the period. Cullen Frost Bankers Inc. increased its position in SEI Investments by 1,563.4% during the first quarter. Cullen Frost Bankers Inc. now owns 1,364 shares of the asset manager's stock worth $106,000 after buying an additional 1,282 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in SEI Investments during the first quarter worth approximately $132,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Stock Up 2.3%

SEIC stock traded up $2.01 on Friday, reaching $90.15. 451,945 shares of the company's stock were exchanged, compared to its average volume of 703,548. The stock has a fifty day moving average of $89.09 and a 200-day moving average of $82.48. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The firm has a market cap of $11.14 billion, a PE ratio of 16.91, a P/E/G ratio of 1.40 and a beta of 0.95.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The asset manager reported $1.78 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.60. SEI Investments had a return on equity of 29.96% and a net margin of 31.25%.The firm had revenue of $559.60 million for the quarter, compared to analyst estimates of $550.72 million. During the same quarter in the prior year, the company posted $1.05 earnings per share. SEI Investments's quarterly revenue was up 7.8% on a year-over-year basis. On average, equities research analysts predict that SEI Investments Company will post 4.86 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 17th. Investors of record on Monday, June 9th were issued a dividend of $0.49 per share. This is a boost from SEI Investments's previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a yield of 2.2%. The ex-dividend date of this dividend was Monday, June 9th. SEI Investments's dividend payout ratio is currently 18.39%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wall Street Zen raised SEI Investments from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Oppenheimer lifted their price target on SEI Investments from $96.00 to $101.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Morgan Stanley reissued an "overweight" rating and issued a $100.00 target price (up previously from $84.00) on shares of SEI Investments in a report on Thursday, June 26th. Raymond James Financial boosted their target price on SEI Investments from $115.00 to $118.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $98.00 target price (down previously from $100.00) on shares of SEI Investments in a report on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $102.00.

Insiders Place Their Bets

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Tuesday, July 29th. The stock was sold at an average price of $88.75, for a total transaction of $443,750.00. Following the sale, the insider directly owned 1,300 shares in the company, valued at approximately $115,375. The trade was a 79.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 66,126 shares of the business's stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $84.28, for a total value of $5,573,099.28. Following the sale, the chairman owned 6,937,582 shares in the company, valued at approximately $584,699,410.96. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,126 shares of company stock worth $15,540,849. 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.