LPL Financial LLC Purchases 9,607 Shares of SEI Investments (NASDAQ:SEIC)

LPL Financial LLC grew its position in SEI Investments (NASDAQ:SEIC - Free Report) by 12.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 88,164 shares of the asset manager's stock after acquiring an additional 9,607 shares during the quarter. LPL Financial LLC owned 0.07% of SEI Investments worth $7,272,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SEIC. Raymond James Financial Inc. acquired a new position in SEI Investments in the fourth quarter worth about $42,548,000. Los Angeles Capital Management LLC acquired a new position in shares of SEI Investments in the 4th quarter worth approximately $26,702,000. Geode Capital Management LLC lifted its position in shares of SEI Investments by 13.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock worth $174,092,000 after buying an additional 300,704 shares during the period. KLP Kapitalforvaltning AS acquired a new stake in SEI Investments in the 4th quarter valued at $13,454,000. Finally, Portman Square Capital LLP boosted its stake in SEI Investments by 113.1% in the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock valued at $1,436,000 after buying an additional 149,840 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

SEI Investments Trading Up 1.9 %

Shares of SEIC traded up $1.34 during mid-day trading on Friday, hitting $72.38. 908,815 shares of the company traded hands, compared to its average volume of 645,318. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 16.38, a PEG ratio of 1.41 and a beta of 0.90. The business has a 50-day moving average of $77.31 and a 200 day moving average of $78.72. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

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SEI Investments (NASDAQ:SEIC - Get Free Report) last posted its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 earnings per share (EPS) 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, analysts anticipate that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has initiated a stock buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the asset manager to purchase 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 shares are undervalued.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Piper Sandler cut their price objective on SEI Investments from $87.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday. StockNews.com downgraded shares of SEI Investments from a "buy" rating to a "hold" rating in a report on Monday. Oppenheimer upped their price objective 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. Raymond James upgraded shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $86.80.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of the 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 transaction, the insider now directly owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The sale 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 SEI Investments 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 sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 79,214 shares of company stock valued at $6,293,903 over the last 90 days. 14.30% of the stock is owned by company insiders.

About SEI Investments

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.