American Century Companies Inc. Cuts Stock Position in SEI Investments (NASDAQ:SEIC)

American Century Companies Inc. trimmed its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 203,752 shares of the asset manager's stock after selling 12,958 shares during the quarter. American Century Companies Inc. owned 0.16% of SEI Investments worth $16,805,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. First Horizon Advisors Inc. increased its position in shares of SEI Investments by 25.4% during the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in SEI Investments by 7.3% during the fourth quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager's stock worth $174,000 after buying an additional 144 shares during the last quarter. Principal Securities Inc. increased its holdings in SEI Investments by 13.3% during the fourth quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager's stock worth $109,000 after buying an additional 155 shares during the last quarter. Allworth Financial LP raised its position in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares during the period. Finally, Parallel Advisors LLC boosted its stake in SEI Investments by 0.9% in the fourth quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager's stock valued at $1,424,000 after acquiring an additional 158 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors.

Remove Ads

SEI Investments Price Performance

Shares of SEI Investments stock traded up $0.31 during trading hours on Wednesday, reaching $77.59. The company had a trading volume of 743,457 shares, compared to its average volume of 628,981. The firm has a market cap of $9.85 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The business has a fifty day simple moving average of $79.95 and a 200 day simple moving average of $78.67.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS 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%. On average, research analysts forecast that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its Board of Directors has approved a share buyback program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target for the company in a research note on Thursday, January 30th. Morgan Stanley decreased their target price on SEI Investments from $84.00 to $81.00 and set an "underweight" rating for the company in a research report on Wednesday. Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Piper Sandler boosted their price objective on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. One equities research 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's stock. According to data from MarketBeat, SEI Investments has a consensus rating of "Hold" and an average target price of $90.20.

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 transaction of $104,656.16. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction that occurred 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. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by company 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.