Nordea Investment Management AB Grows Stake in SEI Investments Company (SEIC)
Nordea Investment Management AB grew its stake in shares of SEI Investments Company (NASDAQ:SEIC) by 21.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 481,433 shares of the asset manager’s stock after acquiring an additional 86,097 shares during the period. Nordea Investment Management AB owned about 0.31% of SEI Investments worth $29,396,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in SEI Investments by 5.5% in the 2nd quarter. BlackRock Inc. now owns 13,447,854 shares of the asset manager’s stock worth $723,225,000 after buying an additional 697,125 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in SEI Investments by 47.6% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,907,730 shares of the asset manager’s stock worth $102,598,000 after purchasing an additional 615,539 shares in the last quarter. Vanguard Group Inc. lifted its stake in SEI Investments by 2.8% in the 2nd quarter. Vanguard Group Inc. now owns 13,260,600 shares of the asset manager’s stock worth $713,155,000 after purchasing an additional 357,187 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in SEI Investments by 51.2% in the 3rd quarter. Frontier Capital Management Co. LLC now owns 968,388 shares of the asset manager’s stock worth $59,130,000 after purchasing an additional 328,037 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in SEI Investments by 88.3% in the 3rd quarter. Prudential Financial Inc. now owns 509,716 shares of the asset manager’s stock worth $31,123,000 after purchasing an additional 239,000 shares in the last quarter. 70.53% of the stock is owned by hedge funds and other institutional investors.
Several analysts have issued reports on SEIC shares. Zacks Investment Research upgraded shares of SEI Investments from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a research note on Monday, October 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $58.00 target price on shares of SEI Investments in a research note on Sunday, September 3rd. Mizuho reiterated a “buy” rating and issued a $65.00 target price on shares of SEI Investments in a research note on Friday, October 20th. BidaskClub cut shares of SEI Investments from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings Inc. increased their target price on shares of SEI Investments from $60.00 to $67.00 and gave the stock an “outperform” rating in a research note on Thursday, September 28th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $67.25.
In other SEI Investments news, Director William Doran sold 10,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $57.49, for a total value of $574,900.00. Following the sale, the director now owns 671,015 shares of the company’s stock, valued at approximately $38,576,652.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Paul Klauder sold 8,750 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $69.36, for a total transaction of $606,900.00. Following the completion of the sale, the executive vice president now directly owns 22,879 shares in the company, valued at approximately $1,586,887.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 191,250 shares of company stock worth $12,073,600. 16.50% of the stock is owned by insiders.
Shares of SEI Investments Company (SEIC) opened at $68.42 on Tuesday. The company has a current ratio of 5.52, a quick ratio of 5.41 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10,783.77, a price-to-earnings ratio of 29.77, a PEG ratio of 2.43 and a beta of 1.38. SEI Investments Company has a 52-week low of $46.20 and a 52-week high of $68.99.
SEI Investments (NASDAQ:SEIC) last posted its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.06. The firm had revenue of $368.02 million for the quarter, compared to analysts’ expectations of $384.43 million. SEI Investments had a net margin of 24.94% and a return on equity of 27.12%. The business’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the company posted $0.53 EPS. sell-side analysts expect that SEI Investments Company will post 2.35 earnings per share for the current year.
SEI Investments announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 25th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.
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SEI Investments Profile
SEI Investments Company provides investment processing, investment management and investment operations solutions. The Company provides its solutions to financial institutions, financial advisors, institutional investors, investment managers and ultra-high-net-worth families in the United States, Canada, the United Kingdom, continental Europe and various other locations around the world.
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