BI Asset Management Fondsmaeglerselskab A S Purchases 8,450 Shares of SEI Investments (NASDAQ:SEIC)

BI Asset Management Fondsmaeglerselskab A S grew its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 47.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,382 shares of the asset manager's stock after purchasing an additional 8,450 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in SEI Investments were worth $2,176,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. King Luther Capital Management Corp purchased a new position in SEI Investments in the 4th quarter worth approximately $2,645,000. Boston Trust Walden Corp raised its stake in shares of SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock worth $107,746,000 after purchasing an additional 20,020 shares during the last quarter. Longboard Asset Management LP bought a new position in shares of SEI Investments during the fourth quarter valued at $267,000. New York Life Investment Management LLC purchased a new stake in shares of SEI Investments during the fourth quarter valued at $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in SEI Investments in the 4th quarter worth about $1,818,000. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares of the company's stock, valued at $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SEIC shares. Morgan Stanley reaffirmed an "overweight" rating and set a $82.00 price target (up previously from $77.00) on shares of SEI Investments in a report on Thursday. Oppenheimer restated an "outperform" rating on shares of SEI Investments in a report on Thursday. Keefe, Bruyette & Woods boosted their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a "market perform" rating in a research note on Friday. StockNews.com upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Piper Sandler lifted their price objective on SEI Investments from $74.00 to $79.00 and gave the stock a "neutral" rating in a report on Thursday. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $87.60.

SEI Investments Stock Performance

Shares of SEI Investments stock traded down $0.11 on Friday, hitting $78.59. 775,073 shares of the company's stock were exchanged, compared to its average volume of 652,485. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The company has a 50-day simple moving average of $75.32 and a 200-day simple moving average of $78.86. The stock has a market capitalization of $9.88 billion, a PE ratio of 17.78, a PEG ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share 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 the consensus estimate of $556.76 million. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. On average, analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes 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.

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.