Invesco Ltd. Decreases Position in SEI Investments (NASDAQ:SEIC)

Invesco Ltd. decreased its position in SEI Investments (NASDAQ:SEIC - Free Report) by 11.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,255,037 shares of the asset manager's stock after selling 302,003 shares during the quarter. Invesco Ltd. owned approximately 1.75% of SEI Investments worth $185,995,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in SEI Investments during the fourth quarter valued at approximately $48,009,000. Raymond James Financial Inc. purchased a new stake in shares of SEI Investments in the fourth quarter worth $42,548,000. FMR LLC increased its stake in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after buying an additional 348,112 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of SEI Investments during the fourth quarter worth about $26,702,000. Finally, Geode Capital Management LLC boosted its stake in SEI Investments by 13.5% in 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 during the period. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SEIC shares. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research report on Thursday, January 30th. Piper Sandler cut their price objective on SEI Investments from $87.00 to $74.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Oppenheimer boosted their target price on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Morgan Stanley raised SEI Investments from an "underweight" rating to an "overweight" rating and decreased their price objective for the stock from $81.00 to $77.00 in a report on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $86.80.

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SEI Investments Price Performance

SEI Investments stock traded down $0.19 during midday trading on Tuesday, reaching $73.26. The company's stock had a trading volume of 715,953 shares, compared to its average volume of 646,775. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The stock has a market capitalization of $9.30 billion, a P/E ratio of 16.57, a PEG ratio of 1.41 and a beta of 0.90. The stock's 50-day simple moving average is $77.05 and its 200-day simple moving average is $78.82.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its 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%. As a group, equities research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now owns 1,300 shares in the company, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the sale, 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 position. 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. Company insiders own 14.30% of the company's stock.

SEI Investments Company 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.