Deutsche Bank AG Decreases Stock Position in SEI Investments (NASDAQ:SEIC)

Deutsche Bank AG cut its stake in SEI Investments (NASDAQ:SEIC) by 55.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 152,402 shares of the asset manager’s stock after selling 188,710 shares during the quarter. Deutsche Bank AG’s holdings in SEI Investments were worth $12,570,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SEIC. Norges Bank purchased a new position in SEI Investments during the fourth quarter worth about $48,009,000. Raymond James Financial Inc. purchased a new position in SEI Investments during the fourth quarter worth about $42,548,000. FMR LLC grew its position in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock worth $101,716,000 after buying an additional 348,112 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in SEI Investments during the fourth quarter worth about $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super purchased a new position in SEI Investments during the fourth quarter worth about $23,710,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on SEIC. StockNews.com upgraded SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, May 10th. Piper Sandler boosted their target price on SEI Investments from $74.00 to $79.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. Raymond James upgraded SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research report on Thursday, January 30th. William Blair restated a “market perform” rating on shares of SEI Investments in a research report on Thursday, April 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $82.00 price target (up previously from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, SEI Investments currently has a consensus rating of “Moderate Buy” and an average target price of $87.60.

SEI Investments Stock Up 1.7%

Shares of SEIC stock opened at $84.77 on Friday. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The business has a 50-day moving average price of $75.82 and a two-hundred day moving average price of $79.74. The firm has a market cap of $10.55 billion, a P/E ratio of 19.18, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The company had revenue of $551.34 million during the quarter, compared to analyst estimates of $556.76 million. During the same quarter in the previous year, the company posted $0.99 EPS. SEI Investments’s revenue for the quarter was up 7.8% on a year-over-year basis. As a group, research analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has approved a share repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. The trade was a 0.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction dated 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 approximately $104,507. This trade represents a 79.37% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 79,214 shares of company stock valued at $6,293,903. Insiders own 14.60% of the company’s stock.

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.