Nissay Asset Management Corp Japan ADV Has $1.16 Million Holdings in SEI Investments (NASDAQ:SEIC)

Nissay Asset Management Corp Japan ADV lessened its stake in SEI Investments (NASDAQ:SEIC) by 1.4% in the 4th quarter, HoldingsChannel reports. The fund owned 13,915 shares of the asset manager’s stock after selling 191 shares during the quarter. 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 hedge funds and other institutional investors have also recently added to or reduced their stakes in SEIC. Norges Bank acquired a new stake in SEI Investments in the 4th quarter valued at about $48,009,000. Raymond James Financial Inc. acquired a new stake in SEI Investments in the 4th quarter valued at about $42,548,000. FMR LLC boosted its stake in shares of SEI Investments by 39.3% in 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 bought a new position in shares of SEI Investments in the 4th quarter valued at about $26,702,000. Finally, Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of SEI Investments in the 4th quarter valued at about $23,710,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of NASDAQ:SEIC opened at $85.38 on Monday. The company has a market capitalization 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’s 50 day simple moving average is $76.04 and its 200 day simple moving average is $79.86. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly 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. The business had revenue of $551.34 million for the quarter, compared to the consensus estimate of $556.76 million. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. SEI Investments’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the company posted $0.99 EPS. Equities research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SEIC. StockNews.com raised shares of SEI Investments from a “hold” rating to a “buy” rating in a research note on Saturday, May 10th. Keefe, Bruyette & Woods raised their target price on shares of SEI Investments from $80.00 to $84.00 and gave the company a “market perform” rating in a research note on Friday, April 25th. Morgan Stanley reaffirmed an “overweight” rating and issued a $82.00 target price (up previously from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Piper Sandler raised their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Finally, William Blair reaffirmed a “market perform” rating 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 issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.60.

Insider Activity at SEI Investments

In other SEI Investments news, EVP Michael Peterson sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $84.27, for a total transaction of $4,213,500.00. Following the sale, the executive vice president now directly owns 13,500 shares in the company, valued at approximately $1,137,645. This trade represents a 78.74% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares in the company, valued at $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. Insiders have sold 170,214 shares of company stock worth $13,925,963 in the last ninety days. Company 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.