Townsquare Capital LLC Raises Stake in SEI Investments (NASDAQ:SEIC)

Townsquare Capital LLC raised its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,974 shares of the asset manager's stock after acquiring an additional 7,135 shares during the quarter. Townsquare Capital LLC's holdings in SEI Investments were worth $2,802,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Sterling Capital Management LLC grew its position in shares of SEI Investments by 3.6% in the 4th quarter. Sterling Capital Management LLC now owns 23,207 shares of the asset manager's stock worth $1,914,000 after buying an additional 798 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of SEI Investments by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 43,937 shares of the asset manager's stock worth $3,624,000 after acquiring an additional 280 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of SEI Investments in the 4th quarter valued at approximately $42,548,000. Martingale Asset Management L P grew its position in SEI Investments by 124.7% during the 4th quarter. Martingale Asset Management L P now owns 230,671 shares of the asset manager's stock worth $19,026,000 after purchasing an additional 128,006 shares during the last quarter. Finally, APG Asset Management N.V. acquired a new stake in shares of SEI Investments during the fourth quarter worth $4,962,000. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the transaction, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This trade represents a 0.02 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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 Down 2.7 %

NASDAQ:SEIC traded down $1.91 during trading hours on Monday, hitting $69.76. The company had a trading volume of 66,790 shares, compared to its average volume of 648,730. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The company has a 50-day moving average of $76.04 and a 200 day moving average of $78.89. The company has a market cap of $8.86 billion, a P/E ratio of 15.82, a P/E/G ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly 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%. On average, analysts forecast that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SEIC. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Piper Sandler dropped their price objective on SEI Investments from $87.00 to $74.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. StockNews.com downgraded SEI Investments from a "buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Finally, Morgan Stanley raised shares of SEI Investments from an "underweight" rating to an "overweight" rating and decreased their price objective for the company from $81.00 to $77.00 in a report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.