Norges Bank Purchases Shares of 652,868 SEI Investments Company $SEIC

Norges Bank purchased a new stake in shares of SEI Investments Company (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 652,868 shares of the asset manager’s stock, valued at approximately $53,548,000. Norges Bank owned about 0.53% of SEI Investments at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of SEI Investments by 0.3% during the third quarter. Vanguard Group Inc. now owns 11,260,591 shares of the asset manager’s stock worth $955,461,000 after buying an additional 30,970 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of SEI Investments by 4.4% during the second quarter. Bank of America Corp DE now owns 3,160,636 shares of the asset manager’s stock worth $284,015,000 after buying an additional 133,057 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of SEI Investments by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,894,317 shares of the asset manager’s stock worth $237,421,000 after buying an additional 109,974 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SEI Investments by 1.7% during the third quarter. Dimensional Fund Advisors LP now owns 1,863,052 shares of the asset manager’s stock worth $158,084,000 after buying an additional 31,953 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of SEI Investments by 4.1% during the third quarter. Invesco Ltd. now owns 1,731,523 shares of the asset manager’s stock worth $146,920,000 after buying an additional 68,873 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insider Transactions at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 4,000 shares of SEI Investments stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $91.16, for a total value of $364,640.00. Following the transaction, the insider owned 921 shares in the company, valued at $83,958.36. The trade was a 81.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 55,000 shares of SEI Investments stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $80.23, for a total value of $4,412,650.00. Following the completion of the transaction, the chairman owned 6,883,230 shares in the company, valued at approximately $552,241,542.90. This represents a 0.79% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 116,447 shares of company stock valued at $9,908,539. Company insiders own 4.80% of the company’s stock.

Analyst Ratings Changes

SEIC has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on SEI Investments from $95.00 to $107.00 and gave the stock an “outperform” rating in a report on Thursday, April 23rd. Raymond James Financial reissued an “outperform” rating and set a $82.00 target price on shares of SEI Investments in a report on Wednesday, April 29th. Piper Sandler reissued an “overweight” rating and set a $105.00 target price (up from $99.00) on shares of SEI Investments in a report on Thursday, April 23rd. Weiss Ratings restated a “buy (b)” rating on shares of SEI Investments in a research report on Tuesday, April 21st. Finally, Morgan Stanley decreased their price target on SEI Investments from $119.00 to $108.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, SEI Investments presently has a consensus rating of “Moderate Buy” and an average target price of $103.00.

SEI Investments Stock Performance

SEI Investments stock opened at $89.42 on Monday. SEI Investments Company has a 12-month low of $75.08 and a 12-month high of $93.96. The company has a quick ratio of 4.40, a current ratio of 4.52 and a debt-to-equity ratio of 0.07. The business’s 50-day moving average price is $85.56 and its two-hundred day moving average price is $83.56. The stock has a market cap of $10.75 billion, a PE ratio of 15.26 and a beta of 0.97.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 22nd. The asset manager reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.15. SEI Investments had a return on equity of 30.70% and a net margin of 31.17%.The firm had revenue of $622.18 million for the quarter, compared to analysts’ expectations of $641.82 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. The business’s revenue for the quarter was up 12.9% on a year-over-year basis. As a group, analysts expect that SEI Investments Company will post 5.89 earnings per share for the current fiscal year.

SEI Investments Announces Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, June 16th. Shareholders of record on Monday, June 8th will be given a $0.52 dividend. This represents a yield of 116.0%. The ex-dividend date is Monday, June 8th. SEI Investments’s payout ratio is currently 17.75%.

About SEI Investments

SEI Investments Company is a global provider of asset management, investment processing, and investment operations solutions. The firm offers a range of services designed to help financial institutions, private banks, wealth managers and family offices streamline back-office functions and enhance front-office capabilities. SEI’s technology platforms support various stages of the investment lifecycle, including trade execution, performance reporting, risk analytics and client communications.

The company’s core offerings include outsourced fund administration, custody and trust services, managed account solutions, and wealth management technology.