SEI Investments (NASDAQ:SEIC) Position Cut by Corient Private Wealth LLC

Corient Private Wealth LLC lessened its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,603 shares of the asset manager's stock after selling 4,446 shares during the quarter. Corient Private Wealth LLC's holdings in SEI Investments were worth $1,040,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SEIC. FMR LLC boosted its stake in shares of SEI Investments by 249.7% in the third 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 period. Raymond James Financial Inc. acquired a new position in SEI Investments in the 4th quarter worth $42,548,000. Los Angeles Capital Management LLC purchased a new position in SEI Investments in the 4th quarter valued at about $26,702,000. Geode Capital Management LLC grew its stake 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 valued at $174,092,000 after acquiring an additional 300,704 shares in the last quarter. Finally, Portman Square Capital LLP increased its position in shares of SEI Investments by 113.1% during the fourth quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock worth $1,436,000 after acquiring an additional 149,840 shares during the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction that occurred 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 completion of the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. The trade was 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 link. Also, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction that occurred 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 $104,507. This trade represents 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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Analysts Set New Price Targets

A number of research analysts recently commented on SEIC shares. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Morgan Stanley upped their target price on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, January 3rd. Raymond James raised 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 report on Thursday, January 30th. Oppenheimer lifted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Finally, Piper Sandler increased their price objective 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $90.00.

SEI Investments Stock Down 1.3 %

Shares of SEIC traded down $1.04 during mid-day trading on Friday, hitting $77.11. The stock had a trading volume of 907,715 shares, compared to its average volume of 625,777. 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 $9.79 billion, a PE ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94. The company's fifty day simple moving average is $80.33 and its two-hundred day simple moving average is $78.52.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data 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 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 initiated a share repurchase plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is 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.