Geode Capital Management LLC Purchases 60,307 Shares of SEI Investments (NASDAQ:SEIC)

Geode Capital Management LLC increased its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,580,737 shares of the asset manager's stock after purchasing an additional 60,307 shares during the quarter. Geode Capital Management LLC owned approximately 2.00% of SEI Investments worth $212,589,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in SEI Investments during the 4th quarter worth approximately $48,009,000. Raymond James Financial Inc. bought a new position in SEI Investments during the fourth quarter worth $42,548,000. Los Angeles Capital Management LLC acquired a new position in SEI Investments in the fourth quarter valued at $26,702,000. KLP Kapitalforvaltning AS bought a new stake in SEI Investments during the fourth quarter valued at $13,454,000. Finally, Portman Square Capital LLP boosted its position in SEI Investments by 113.1% during the fourth quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock valued at $1,436,000 after acquiring an additional 149,840 shares during the last quarter. 70.59% of the stock is currently owned by institutional investors and hedge funds.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded up $1.34 during midday trading on Friday, hitting $72.38. 908,815 shares of the company's stock were exchanged, compared to its average volume of 645,318. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The company has a market cap of $9.19 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90. The stock has a 50 day moving average price of $77.31 and a 200-day moving average price of $78.72.

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SEI Investments (NASDAQ:SEIC - Get Free Report) last issued 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%. On average, analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

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

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. 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 note on Tuesday. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a report on Thursday, January 30th. Oppenheimer lifted their price objective on shares of 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 shares of SEI Investments from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Morgan Stanley raised shares of SEI Investments from an "underweight" rating to an "overweight" rating and decreased their price target for the company from $81.00 to $77.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, SEI Investments currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.80.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the company'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 of the company's stock, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments 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 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 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 over the last 90 days. Insiders own 14.30% of the company's stock.

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.