Bridgewater Associates LP Sells 10,166 Shares of SEI Investments (NASDAQ:SEIC)

Bridgewater Associates LP reduced its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 19.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,920 shares of the asset manager's stock after selling 10,166 shares during the period. Bridgewater Associates LP's holdings in SEI Investments were worth $3,540,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC increased its stake in SEI Investments by 4.0% during the 3rd quarter. HighTower Advisors LLC now owns 10,939 shares of the asset manager's stock valued at $761,000 after purchasing an additional 425 shares in the last quarter. MML Investors Services LLC grew its holdings in shares of SEI Investments by 12.2% during the third quarter. MML Investors Services LLC now owns 3,472 shares of the asset manager's stock valued at $240,000 after buying an additional 377 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of SEI Investments during the third quarter valued at approximately $374,000. Franklin Resources Inc. raised its holdings in SEI Investments by 17.8% in the 3rd quarter. Franklin Resources Inc. now owns 320,482 shares of the asset manager's stock worth $22,799,000 after acquiring an additional 48,429 shares during the last quarter. Finally, DGS Capital Management LLC lifted its position in SEI Investments by 14.4% in the 3rd quarter. DGS Capital Management LLC now owns 11,518 shares of the asset manager's stock valued at $797,000 after acquiring an additional 1,448 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Stock Up 2.6 %

Shares of SEI Investments stock traded up $1.88 during trading hours on Wednesday, reaching $73.78. 171,573 shares of the stock traded hands, compared to its average volume of 649,680. The company has a 50 day moving average price of $75.58 and a 200 day moving average price of $78.84. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 16.69, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

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

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

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business'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 value of $5,787,296.90. Following the transaction, the chairman now directly owns 7,160,080 shares of the company's stock, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business'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 value of $401,950.00. Following the completion of the transaction, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock valued at $6,293,903 in the last ninety days. Corporate insiders own 14.30% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James upgraded 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. StockNews.com downgraded SEI Investments from a "buy" rating to a "hold" rating in a report on Wednesday, April 16th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Finally, Morgan Stanley upgraded SEI Investments from an "underweight" rating to an "overweight" rating and reduced their price objective for the stock from $81.00 to $77.00 in a report on Monday, April 7th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $86.80.

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.