KLP Kapitalforvaltning AS Purchases Shares of 162,300 SEI Investments (NASDAQ:SEIC)

KLP Kapitalforvaltning AS acquired a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 162,300 shares of the asset manager's stock, valued at approximately $13,454,000. KLP Kapitalforvaltning AS owned 0.13% of SEI Investments as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in shares of SEI Investments by 101.3% in the third quarter. First Horizon Advisors Inc. now owns 461 shares of the asset manager's stock worth $32,000 after acquiring an additional 232 shares during the last quarter. Allworth Financial LP increased its position in SEI Investments by 53.7% in the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after purchasing an additional 158 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of SEI Investments during the 3rd quarter worth about $45,000. Rialto Wealth Management LLC acquired a new stake in shares of SEI Investments during the 4th quarter valued at about $55,000. Finally, EverSource Wealth Advisors LLC grew its stake 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 valued at $71,000 after buying an additional 172 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Price Performance

SEIC stock traded down $1.04 on Friday, reaching $77.11. 907,715 shares of the company were exchanged, compared to its average volume of 625,776. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The stock's fifty day moving average price is $80.33 and its 200 day moving average price is $78.36. The firm has a market capitalization of $9.79 billion, a PE ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94.

Remove Ads

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. As a group, research analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a report on Thursday, January 30th. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Finally, Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $90.00.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 in the last quarter. Corporate 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.