Corebridge Financial Inc. Has $9.15 Million Holdings in SEI Investments (NASDAQ:SEIC)

Corebridge Financial Inc. trimmed its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,871 shares of the asset manager's stock after selling 5,878 shares during the period. Corebridge Financial Inc. owned about 0.09% of SEI Investments worth $9,145,000 as of its most recent SEC filing.

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

Insider Transactions at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the sale, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company's stock.

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Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SEIC. Morgan Stanley raised their target price on SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Piper Sandler lifted 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, Oppenheimer lifted their price objective on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. 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 stock. Based on data from MarketBeat.com, SEI Investments presently has an average rating of "Hold" and an average target price of $90.00.

SEI Investments Stock Down 0.5 %

SEI Investments stock traded down $0.35 during trading hours on Tuesday, hitting $77.28. The stock had a trading volume of 730,436 shares, compared to its average volume of 627,801. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The company has a market cap of $9.81 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The company has a 50-day moving average of $80.08 and a two-hundred day 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 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%. As a group, analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal year.

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

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.