KLP Kapitalforvaltning AS Takes Position in SEI Investments (NASDAQ:SEIC)

KLP Kapitalforvaltning AS purchased a new stake in shares of SEI Investments (NASDAQ:SEIC) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 162,300 shares of the asset manager’s stock, valued at approximately $13,454,000. KLP Kapitalforvaltning AS owned 0.13% of SEI Investments at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. AXQ Capital LP acquired a new position in SEI Investments in the 4th quarter valued at approximately $257,000. Hillsdale Investment Management Inc. increased its stake in SEI Investments by 3.8% in the 4th quarter. Hillsdale Investment Management Inc. now owns 10,800 shares of the asset manager’s stock valued at $891,000 after buying an additional 400 shares during the period. Teacher Retirement System of Texas increased its stake in SEI Investments by 69.2% in the 4th quarter. Teacher Retirement System of Texas now owns 258,956 shares of the asset manager’s stock valued at $21,359,000 after buying an additional 105,908 shares during the period. Vinva Investment Management Ltd increased its stake in SEI Investments by 120.5% in the 4th quarter. Vinva Investment Management Ltd now owns 108,350 shares of the asset manager’s stock valued at $8,954,000 after buying an additional 59,214 shares during the period. Finally, Xponance Inc. increased its stake in SEI Investments by 5.5% in the 4th quarter. Xponance Inc. now owns 17,337 shares of the asset manager’s stock valued at $1,430,000 after buying an additional 911 shares during the period. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Stock Down 0.2 %

Shares of SEIC opened at $75.84 on Monday. The company’s fifty day moving average is $80.71 and its 200-day moving average is $78.11. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The firm has a market cap of $9.63 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94.

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

SEI Investments announced that its Board of Directors has authorized a share repurchase plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction on Monday, March 3rd. The shares were 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 directly owns 1,300 shares of the company’s stock, valued at $104,507. This represents a 79.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now directly owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Piper Sandler upped their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note on Monday, December 23rd. Morgan Stanley upped their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a research note on Friday, January 3rd. Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, SEI Investments currently has an average rating of “Hold” and a consensus price target of $90.00.

SEI Investments 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.