Pinebridge Investments L.P. Sells 9,450 Shares of SEI Investments (NASDAQ:SEIC)

Pinebridge Investments L.P. decreased its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 133,081 shares of the asset manager's stock after selling 9,450 shares during the period. Pinebridge Investments L.P. owned about 0.10% of SEI Investments worth $10,977,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in SEIC. Geode Capital Management LLC increased its stake in shares of SEI Investments by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager's stock valued at $212,589,000 after purchasing an additional 60,307 shares during the last quarter. Boston Trust Walden Corp grew its position in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock valued at $107,746,000 after acquiring an additional 20,020 shares during the last quarter. FMR LLC raised its stake in SEI Investments by 39.3% during the fourth quarter. FMR LLC now owns 1,233,225 shares of the asset manager's stock worth $101,716,000 after acquiring an additional 348,112 shares in the last quarter. Bank of New York Mellon Corp raised its stake in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after acquiring an additional 46,425 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SEI Investments by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock valued at $55,124,000 after purchasing an additional 3,967 shares in the last quarter. 70.59% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on SEIC shares. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. StockNews.com lowered SEI Investments from a "buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Oppenheimer increased their target price on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. Finally, Morgan Stanley raised SEI Investments from an "underweight" rating to an "overweight" rating and lowered their price objective for the company from $81.00 to $77.00 in a research note on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $86.80.

SEI Investments Price Performance

Shares of SEIC stock opened at $73.00 on Thursday. The stock has a market capitalization of $9.18 billion, a PE ratio of 16.52, a PEG ratio of 1.41 and a beta of 0.90. The business's 50 day simple moving average is $75.40 and its 200 day simple moving average is $78.80. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The company had revenue of $551.34 million for the quarter, compared to analyst estimates of $556.76 million. As a group, research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has initiated a share buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Mark Andrew Warner sold 5,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This trade represents a 79.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,214 shares of company stock worth $6,293,903. 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.

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