SEI Investments (NASDAQ:SEIC) Shares Acquired by Alliancebernstein L.P.

Alliancebernstein L.P. lifted its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 169,134 shares of the asset manager's stock after purchasing an additional 32,121 shares during the period. Alliancebernstein L.P. owned 0.13% of SEI Investments worth $13,950,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of SEIC. King Luther Capital Management Corp bought a new stake in SEI Investments in the fourth quarter valued at approximately $2,645,000. Boston Trust Walden Corp grew its stake in SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager's stock worth $107,746,000 after purchasing an additional 20,020 shares during the period. Longboard Asset Management LP bought a new position in shares of SEI Investments during the 4th quarter worth approximately $267,000. New York Life Investment Management LLC acquired a new stake in shares of SEI Investments during the 4th quarter worth approximately $863,000. Finally, CHURCHILL MANAGEMENT Corp bought a new stake in shares of SEI Investments in the 4th quarter valued at $1,818,000. 70.59% of the stock is owned by institutional investors.

SEI Investments Trading Up 1.0 %

NASDAQ:SEIC traded up $0.75 during mid-day trading on Monday, reaching $73.13. The company's stock had a trading volume of 39,641 shares, compared to its average volume of 644,008. SEI Investments has a 12-month low of $62.38 and a 12-month high of $87.25. The firm's fifty day moving average price is $77.31 and its two-hundred day moving average price is $78.79. The stock has a market cap of $9.28 billion, a P/E ratio of 16.55, a PEG ratio of 1.41 and a beta of 0.90.

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SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 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%. Analysts predict that SEI Investments will post 4.86 earnings per share for the current fiscal year.

SEI Investments announced that its board has authorized a stock buyback plan 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 stock through open market purchases. Stock buyback plans are generally a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business'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 owns 7,078,708 shares in the company, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments 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 completion of the transaction, the insider now directly owns 1,300 shares of the company's stock, valued at $104,507. The trade was a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,214 shares of company stock worth $6,293,903. 14.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. 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. Oppenheimer boosted their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Piper Sandler decreased their price target on shares of SEI Investments from $87.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price on the stock in a research report on Thursday, January 30th. Finally, StockNews.com downgraded SEI Investments from a "buy" rating to a "hold" rating 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's stock. According to data from MarketBeat, the company 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.