Skandinaviska Enskilda Banken AB publ Raises Stock Holdings in SEI Investments (NASDAQ:SEIC)

Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of SEI Investments (NASDAQ:SEIC) by 30.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,385 shares of the asset manager’s stock after purchasing an additional 5,900 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in SEI Investments were worth $1,642,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SEIC. Fairfield Financial Advisors LTD acquired a new position in shares of SEI Investments during the second quarter valued at approximately $30,000. TFO Wealth Partners LLC raised its holdings in shares of SEI Investments by 6,277.8% during the fourth quarter. TFO Wealth Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 565 shares during the last quarter. EverSource Wealth Advisors LLC raised its holdings in shares of SEI Investments by 78.3% during the first quarter. EverSource Wealth Advisors LLC now owns 626 shares of the asset manager’s stock valued at $41,000 after acquiring an additional 275 shares during the last quarter. Bessemer Group Inc. raised its holdings in shares of SEI Investments by 184.7% during the first quarter. Bessemer Group Inc. now owns 595 shares of the asset manager’s stock valued at $43,000 after acquiring an additional 386 shares during the last quarter. Finally, Mather Group LLC. raised its holdings in shares of SEI Investments by 181.2% during the second quarter. Mather Group LLC. now owns 776 shares of the asset manager’s stock valued at $50,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company’s stock.

Insiders Place Their Bets

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the sale, the chairman now owns 7,504,285 shares of the company’s stock, valued at $505,488,637.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Chairman Alfred P. West, Jr. sold 61,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $67.36, for a total transaction of $4,108,960.00. Following the completion of the transaction, the chairman now directly owns 7,504,285 shares in the company, valued at $505,488,637.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 27,419 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $67.48, for a total value of $1,850,234.12. Following the transaction, the chairman now owns 7,649,577 shares of the company’s stock, valued at $516,193,455.96. The disclosure for this sale can be found here. Insiders sold a total of 132,582 shares of company stock valued at $8,942,405 over the last quarter. 14.30% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on SEIC shares. Piper Sandler reduced their target price on SEI Investments from $72.00 to $71.00 and set a “neutral” rating for the company in a report on Thursday, July 25th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $73.00 price target (down previously from $74.00) on shares of SEI Investments in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $71.25.

SEI Investments Stock Performance

NASDAQ:SEIC opened at $68.81 on Tuesday. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The stock has a market cap of $9.04 billion, a PE ratio of 18.80, a P/E/G ratio of 1.34 and a beta of 0.99. The stock has a 50 day moving average price of $66.75 and a 200 day moving average price of $67.25.

SEI Investments (NASDAQ:SEIC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The company had revenue of $518.99 million during the quarter, compared to analysts’ expectations of $523.80 million. SEI Investments had a return on equity of 23.25% and a net margin of 25.44%. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.89 earnings per share. As a group, analysts predict that SEI Investments will post 4.2 earnings per share for the current fiscal year.

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.