582,069 Shares in SEI Investments (NASDAQ:SEIC) Purchased by Norges Bank

Norges Bank purchased a new stake in shares of SEI Investments (NASDAQ:SEIC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 582,069 shares of the asset manager’s stock, valued at approximately $48,009,000.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after acquiring an additional 300,704 shares during the last quarter. Boston Trust Walden Corp lifted its position in SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after purchasing an additional 20,020 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock worth $96,645,000 after buying an additional 46,425 shares in the last quarter. FMR LLC increased its holdings in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after buying an additional 632,024 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of SEI Investments by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock valued at $55,124,000 after buying an additional 3,967 shares in the last quarter. Institutional investors own 70.59% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SEIC shares. Oppenheimer lifted their price target on SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Morgan Stanley lowered their price target on SEI Investments from $84.00 to $81.00 and set an “underweight” rating for the company in a research report on Wednesday. Piper Sandler boosted their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research report on Monday, December 23rd. Finally, Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $90.20.

SEI Investments Stock Down 6.1 %

Shares of SEI Investments stock opened at $69.02 on Friday. The stock’s fifty day moving average is $79.41 and its two-hundred day moving average is $78.64. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The company has a market capitalization of $8.76 billion, a PE ratio of 15.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts’ consensus estimates 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 anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has initiated a share buyback plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase up to 5.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction 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 completion of the sale, the chairman now directly owns 7,078,708 shares of the company’s stock, valued at $539,963,846.24. The trade was a 0.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company’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 sale, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is currently owned by company insiders.

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.