Nordea Investment Management AB Acquires 1,131 Shares of SEI Investments (NASDAQ:SEIC)

Nordea Investment Management AB lifted its holdings in SEI Investments (NASDAQ:SEIC) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,389 shares of the asset manager’s stock after acquiring an additional 1,131 shares during the period. Nordea Investment Management AB’s holdings in SEI Investments were worth $780,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Victory Capital Management Inc. raised its position in SEI Investments by 9.5% in the 2nd quarter. Victory Capital Management Inc. now owns 160,275 shares of the asset manager’s stock worth $10,368,000 after purchasing an additional 13,903 shares during the period. Daiwa Securities Group Inc. raised its position in SEI Investments by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 7,800 shares of the asset manager’s stock worth $505,000 after purchasing an additional 400 shares during the period. American Century Companies Inc. raised its position in SEI Investments by 7.5% in the 2nd quarter. American Century Companies Inc. now owns 311,459 shares of the asset manager’s stock worth $20,148,000 after purchasing an additional 21,632 shares during the period. BOKF NA raised its position in SEI Investments by 557.0% in the 2nd quarter. BOKF NA now owns 12,083 shares of the asset manager’s stock worth $782,000 after purchasing an additional 10,244 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in SEI Investments by 8.2% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 6,900 shares of the asset manager’s stock worth $444,000 after purchasing an additional 525 shares during the period. Institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, January 3rd. Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research report on Monday, December 23rd. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $76.00 to $86.00 and gave the stock a “market perform” rating in a research report on Friday, December 20th. Finally, Oppenheimer raised 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $86.75.

Insider Activity at SEI Investments

In related news, EVP Michael Peterson sold 25,000 shares of SEI Investments stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.59, for a total transaction of $1,864,750.00. Following the transaction, the executive vice president now directly owns 6,500 shares of the company’s stock, valued at $484,835. This trade represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Ryan Hicke sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $74.90, for a total transaction of $749,000.00. Following the completion of the sale, the chief executive officer now owns 147,609 shares of the company’s stock, valued at approximately $11,055,914.10. This trade represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 239,258 shares of company stock valued at $19,753,402 over the last ninety days. 14.30% of the stock is owned by company insiders.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $79.00 on Monday. The firm has a market cap of $10.18 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 1.62 and a beta of 0.98. The firm’s 50 day simple moving average is $82.09 and its 200-day simple moving average is $73.05. SEI Investments has a one year low of $62.34 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.12. The company had revenue of $537.40 million for the quarter, compared to analyst estimates of $534.08 million. SEI Investments had a net margin of 26.60% and a return on equity of 24.29%. SEI Investments’s revenue was up 12.7% compared to the same quarter last year. During the same period last year, the company posted $0.87 earnings per share. Equities research analysts predict that SEI Investments will post 4.41 EPS for the current fiscal year.

SEI Investments Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 27th were issued a dividend of $0.49 per share. This represents a yield of 1.1%. This is a positive change from SEI Investments’s previous semi-annual dividend of $0.46. The ex-dividend date of this dividend was Friday, December 27th. SEI Investments’s dividend payout ratio (DPR) is presently 23.67%.

SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 22nd that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the asset manager to repurchase up to 4.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.