Elo Mutual Pension Insurance Co Takes $1.09 Million Position in SEI Investments (NASDAQ:SEIC)

Elo Mutual Pension Insurance Co purchased a new stake in SEI Investments (NASDAQ:SEIC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 13,240 shares of the asset manager's stock, valued at approximately $1,092,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. FMR LLC raised its holdings in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. Raymond James Financial Inc. acquired a new position in SEI Investments during the fourth quarter valued at approximately $42,548,000. Los Angeles Capital Management LLC acquired a new stake in shares of SEI Investments in the fourth quarter worth $26,702,000. Geode Capital Management LLC raised its stake in shares of SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after acquiring an additional 300,704 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in SEI Investments during the 4th quarter worth $13,454,000. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Stock Down 6.3 %

Shares of SEIC traded down $4.64 during mid-day trading on Friday, hitting $68.85. The stock had a trading volume of 131,799 shares, compared to its average volume of 628,799. The company has a market cap of $8.74 billion, a PE ratio of 15.58, a PEG ratio of 1.41 and a beta of 0.94. The company's fifty day simple moving average is $79.73 and its two-hundred day simple moving average is $78.63. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

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SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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%. Equities analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has approved a share repurchase plan on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction dated 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 sale, the chairman now owns 7,160,080 shares in the company, valued at approximately $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 in the last three months. 14.30% of the stock is owned by insiders.

Analyst Ratings Changes

SEIC has been the topic of a number of recent research reports. Oppenheimer boosted their price objective on 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 reiterated a "market perform" rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Piper Sandler upped their target price 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. Raymond James raised 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. Finally, Morgan Stanley lowered their target price on SEI Investments from $84.00 to $81.00 and set an "underweight" rating for the company in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $90.20.

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.