Nissay Asset Management Corp Japan ADV Sells 191 Shares of SEI Investments (NASDAQ:SEIC)

Nissay Asset Management Corp Japan ADV reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,915 shares of the asset manager’s stock after selling 191 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in SEI Investments were worth $1,160,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SEIC. Norges Bank bought a new stake in shares of SEI Investments during the 4th quarter worth $48,009,000. Raymond James Financial Inc. acquired a new position in SEI Investments during the 4th quarter valued at $42,548,000. FMR LLC raised its stake in SEI Investments by 39.3% during the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after purchasing an additional 348,112 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in SEI Investments during the 4th quarter valued at $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super acquired a new position in SEI Investments during the 4th quarter valued at $23,710,000. 70.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SEIC has been the subject of several research analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. William Blair reiterated a “market perform” rating on shares of SEI Investments in a research note on Thursday, April 24th. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, May 10th. Finally, Oppenheimer reiterated an “outperform” rating on shares of SEI Investments in a research note on Thursday, April 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $87.60.

SEI Investments Stock Performance

Shares of SEIC stock opened at $85.38 on Monday. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The stock has a market cap of $10.63 billion, a price-to-earnings ratio of 19.32, a P/E/G ratio of 1.41 and a beta of 0.90. The firm has a fifty day moving average of $76.04 and a 200-day moving average of $79.86.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million during the quarter, compared to analysts’ expectations of $556.76 million. During the same quarter in the prior year, the company posted $0.99 EPS. The business’s revenue was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to buy up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In related news, CEO Ryan Hicke sold 21,000 shares of the stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $83.36, for a total transaction of $1,750,560.00. Following the completion of the sale, the chief executive officer now owns 171,260 shares in the company, valued at $14,276,233.60. This trade represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Sanjay Sharma sold 20,000 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $83.40, for a total transaction of $1,668,000.00. Following the sale, the insider now owns 23,895 shares of the company’s stock, valued at $1,992,843. This trade represents a 45.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 170,214 shares of company stock worth $13,925,963. 14.60% of the stock is currently owned by corporate insiders.

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.