SEI Investments (NASDAQ:SEIC) Shares Purchased by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lifted its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 11.1% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 303,078 shares of the asset manager's stock after purchasing an additional 30,377 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.24% of SEI Investments worth $24,998,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock worth $174,092,000 after buying an additional 300,704 shares in the last quarter. Boston Trust Walden Corp grew its holdings in SEI Investments by 1.6% during the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock worth $107,746,000 after acquiring an additional 20,020 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of SEI Investments by 4.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock valued at $96,645,000 after purchasing an additional 46,425 shares during the last quarter. FMR LLC increased its position 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 valued at $61,241,000 after purchasing an additional 632,024 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SEI Investments by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock worth $55,124,000 after purchasing an additional 3,967 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the company'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 completion of the sale, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction on Monday, March 3rd. The shares were 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 three months, insiders sold 79,214 shares of company stock valued at $6,293,903. Insiders own 14.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SEIC. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. StockNews.com lowered SEI Investments from a "buy" rating to a "hold" rating in a research report on Monday. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Piper Sandler cut their price objective on shares of SEI Investments from $87.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday. Finally, Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $86.80.

SEI Investments Stock Down 2.1 %

SEIC traded down $1.40 during trading on Tuesday, hitting $66.45. 1,082,005 shares of the stock were exchanged, compared to its average volume of 638,841. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25. The stock has a fifty day moving average price of $78.41 and a two-hundred day moving average price of $78.68. The firm has a market capitalization of $8.44 billion, a P/E ratio of 15.03, a PEG ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its earnings results on Wednesday, January 29th. The asset manager reported $1.19 EPS for the quarter, missing analysts' consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. Analysts predict that SEI Investments will post 4.86 EPS for the current year.

SEI Investments announced that its Board of Directors has approved a share buyback plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

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.