31,219 Shares in SEI Investments (NASDAQ:SEIC) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new stake in SEI Investments (NASDAQ:SEIC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 31,219 shares of the asset manager's stock, valued at approximately $2,578,000.

Several other hedge funds have also bought and sold shares of SEIC. CoreFirst Bank & Trust purchased a new stake in shares of SEI Investments during the 4th quarter valued at $31,000. Allworth Financial LP raised its position in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares in the last quarter. First Horizon Advisors Inc. raised its position in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after purchasing an additional 117 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in SEI Investments during the fourth quarter worth about $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after purchasing an additional 172 shares in the last quarter. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated 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 transaction, the chairman now directly owns 7,078,708 shares of the company's stock, valued at $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction that occurred 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 sale, the insider now directly owns 1,300 shares in the company, valued at approximately $104,507. The trade was a 79.37 % 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 worth $6,293,903 in the last 90 days. Company insiders own 14.30% of the company's stock.

Remove Ads

SEI Investments Stock Performance

NASDAQ:SEIC traded up $0.63 during midday trading on Tuesday, reaching $74.08. 137,797 shares of the stock traded hands, compared to its average volume of 644,548. The stock has a market capitalization of $9.40 billion, a P/E ratio of 16.76, a PEG ratio of 1.41 and a beta of 0.90. The company has a fifty day moving average of $77.05 and a 200 day moving average of $78.82. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings data 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 net margin of 27.35% and a return on equity of 25.51%. On average, analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its Board of Directors has initiated a share repurchase plan 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 plans are generally an indication that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

SEIC has been the subject of a number of recent research reports. Piper Sandler dropped their target price 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. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective for the company in a report on Thursday, January 30th. StockNews.com cut shares of SEI Investments from a "buy" rating to a "hold" rating in a research note on Monday, April 7th. Morgan Stanley upgraded shares of SEI Investments from an "underweight" rating to an "overweight" rating and decreased their target price for the stock from $81.00 to $77.00 in a research report on Monday, April 7th. Finally, Oppenheimer upped their price target on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research report on Tuesday, January 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $86.80.

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.