KLP Kapitalforvaltning AS Sells 28,600 Shares of SEI Investments Company $SEIC

KLP Kapitalforvaltning AS trimmed its position in shares of SEI Investments Company (NASDAQ:SEIC) by 18.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 126,900 shares of the asset manager’s stock after selling 28,600 shares during the period. KLP Kapitalforvaltning AS’s holdings in SEI Investments were worth $10,767,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Loomis Sayles & Co. L P raised its stake in shares of SEI Investments by 1.4% during the 2nd quarter. Loomis Sayles & Co. L P now owns 8,841,249 shares of the asset manager’s stock worth $794,475,000 after acquiring an additional 121,198 shares in the last quarter. Bank of America Corp DE increased its position 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 purchasing an additional 133,057 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of SEI Investments by 9.1% during the 2nd quarter. First Trust Advisors LP now owns 1,727,334 shares of the asset manager’s stock valued at $155,218,000 after purchasing an additional 144,789 shares during the last quarter. Boston Trust Walden Corp boosted its position in shares of SEI Investments by 3.3% in the 2nd quarter. Boston Trust Walden Corp now owns 1,369,674 shares of the asset manager’s stock worth $123,079,000 after purchasing an additional 44,195 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in SEI Investments by 6.0% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 801,056 shares of the asset manager’s stock worth $62,186,000 after buying an additional 45,019 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SEIC shares. Piper Sandler upgraded SEI Investments from a “neutral” rating to an “overweight” rating and increased their price target for the company from $93.00 to $102.00 in a research note on Tuesday, December 23rd. Keefe, Bruyette & Woods increased their price objective on shares of SEI Investments from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday. Zacks Research downgraded shares of SEI Investments from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 11th. Morgan Stanley upped their price target on shares of SEI Investments from $115.00 to $117.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of SEI Investments in a research note on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $107.80.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 24,770 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $80.87, for a total value of $2,003,149.90. Following the sale, the chairman owned 6,942,812 shares in the company, valued at $561,465,206.44. This represents a 0.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 14.60% of the stock is currently owned by company insiders.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $87.25 on Friday. SEI Investments Company has a twelve month low of $64.66 and a twelve month high of $93.96. The company has a current ratio of 5.73, a quick ratio of 5.62 and a debt-to-equity ratio of 0.04. The company has a market cap of $10.68 billion, a PE ratio of 16.04 and a beta of 0.97. The company’s 50 day moving average is $82.48 and its 200 day moving average is $85.68.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data on Wednesday, October 22nd. The asset manager reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. SEI Investments had a net margin of 31.09% and a return on equity of 30.21%. The business had revenue of $578.51 million for the quarter, compared to the consensus estimate of $578.75 million. During the same period in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, sell-side analysts forecast that SEI Investments Company will post 4.86 EPS for the current year.

SEI Investments Announces Dividend

The business also recently disclosed a dividend, which will be paid on Monday, January 12th. Shareholders of record on Monday, December 29th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, December 29th. This represents a dividend yield of 124.0%. SEI Investments’s dividend payout ratio (DPR) is presently 19.12%.

SEI Investments announced that its Board of Directors has approved a share repurchase program on Friday, October 24th that permits the company to buyback $650.00 million in outstanding shares. This buyback authorization permits the asset manager to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

SEI Investments Company Profile

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.