Franklin Resources Inc. Purchases 125,926 Shares of SEI Investments (NASDAQ:SEIC)

Franklin Resources Inc. lifted its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 39.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 446,408 shares of the asset manager's stock after purchasing an additional 125,926 shares during the quarter. Franklin Resources Inc. owned about 0.35% of SEI Investments worth $36,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments in the fourth quarter worth $31,000. Allworth Financial LP increased its stake in SEI Investments by 53.7% during the 4th quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after buying an additional 117 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of SEI Investments in the third quarter worth approximately $45,000. Finally, Rialto Wealth Management LLC purchased a new stake in shares of SEI Investments during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were 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 in the company, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the firm's 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 transaction, the insider now directly owns 1,300 shares of the company's stock, valued at $104,507. The trade was 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 have sold 79,214 shares of company stock worth $6,293,903. Corporate insiders own 14.30% of the company's stock.

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SEI Investments Stock Performance

Shares of NASDAQ SEIC traded down $2.42 during midday trading on Thursday, hitting $70.62. 115,091 shares of the company's stock traded hands, compared to its average volume of 639,606. The stock has a market capitalization of $8.96 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The firm has a fifty day moving average of $77.88 and a 200 day moving average of $78.67. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

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

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Oppenheimer upped 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. Piper Sandler dropped their price objective on SEI Investments from $87.00 to $74.00 and set a "neutral" rating on the stock in a research report on Tuesday. Keefe, Bruyette & Woods reissued 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. 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. Finally, StockNews.com downgraded shares of SEI Investments from a "buy" rating to a "hold" rating in a research report on Monday. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus 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.