SEI Investments (NASDAQ:SEIC) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 9.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 458,881 shares of the asset manager's stock after selling 49,035 shares during the period. JPMorgan Chase & Co. owned 0.36% of SEI Investments worth $37,849,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments in the 4th quarter valued at approximately $31,000. Allworth Financial LP grew its position in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after acquiring an additional 158 shares during the period. Point72 DIFC Ltd purchased a new position in SEI Investments in the third quarter worth approximately $45,000. First Horizon Advisors Inc. increased its stake in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new stake in SEI Investments in the fourth quarter valued at $55,000. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm's stock in a transaction 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 sale, the chairman now directly owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $80.39, for a total transaction of $401,950.00. Following the transaction, the insider now owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 79,214 shares of company stock worth $6,293,903. Company insiders own 14.30% of the company's stock.

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Analyst Upgrades and Downgrades

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

SEI Investments Stock Performance

Shares of SEIC traded up $1.34 during mid-day trading on Friday, hitting $72.38. 908,815 shares of the company's stock were exchanged, compared to its average volume of 645,318. The stock's 50-day moving average is $77.31 and its 200-day moving average is $78.72. 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 $9.19 billion, a price-to-earnings ratio of 16.38, a P/E/G ratio of 1.41 and a beta of 0.90.

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 (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%. As a group, equities research analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

SEI Investments declared that its board has initiated 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 purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board 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.