SEI Investments (NASDAQ:SEIC) Shares Sold by Korea Investment CORP

Korea Investment CORP lessened its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 4.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 189,484 shares of the asset manager's stock after selling 7,800 shares during the period. Korea Investment CORP owned approximately 0.15% of SEI Investments worth $15,629,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SEIC. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in SEI Investments in the fourth quarter valued at $709,000. Florida Financial Advisors LLC purchased a new position in shares of SEI Investments in the 4th quarter valued at about $350,000. Ashton Thomas Securities LLC grew its position in shares of SEI Investments by 2.5% during the fourth quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after buying an additional 145 shares in the last quarter. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the fourth quarter worth approximately $31,000. Finally, Prudential Financial Inc. raised its holdings in SEI Investments by 318.0% in the fourth quarter. Prudential Financial Inc. now owns 137,183 shares of the asset manager's stock valued at $11,315,000 after acquiring an additional 104,367 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on SEIC. Morgan Stanley lowered their price target on shares of SEI Investments from $84.00 to $81.00 and set an "underweight" rating for the company in a report on Wednesday. Oppenheimer boosted their target price 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. Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods restated a "market perform" rating and set a $90.00 target price (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Raymond James raised 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. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, SEI Investments currently has a consensus rating of "Hold" and an average price target of $90.20.

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Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction 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 in the company, valued at $104,507. This trade represents a 79.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company's stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company's stock.

SEI Investments Trading Up 0.4 %

SEIC stock traded up $0.31 on Wednesday, hitting $77.59. The company's stock had a trading volume of 743,457 shares, compared to its average volume of 628,260. The stock has a market cap of $9.85 billion, a price-to-earnings ratio of 17.55, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The firm has a 50 day moving average of $80.08 and a two-hundred 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 announced 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 analysts forecast that SEI Investments will post 4.86 EPS for the current fiscal 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 outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its stock is undervalued.

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.