Prudential Financial Inc. Boosts Holdings in SEI Investments (NASDAQ:SEIC)

Prudential Financial Inc. lifted its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 318.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 137,183 shares of the asset manager's stock after buying an additional 104,367 shares during the quarter. Prudential Financial Inc. owned approximately 0.11% of SEI Investments worth $11,315,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Allworth Financial LP grew its holdings in shares of SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock worth $38,000 after purchasing an additional 158 shares during the last quarter. First Horizon Advisors Inc. grew its stake in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of SEI Investments during the third quarter worth approximately $45,000. Rialto Wealth Management LLC bought a new stake in shares of SEI Investments during the fourth quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after purchasing an additional 172 shares during the period. Hedge funds and other institutional investors own 70.59% of the company's stock.

Insider Transactions at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction 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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the completion of the transaction, the chairman now directly owns 7,160,080 shares in the company, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 79,214 shares of company stock worth $6,293,903. Insiders own 14.30% of the company's stock.

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SEI Investments Stock Down 0.6 %

Shares of SEI Investments stock traded down $0.49 on Wednesday, reaching $76.79. The stock had a trading volume of 154,380 shares, compared to its average volume of 626,014. The stock has a market capitalization of $9.75 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.41 and a beta of 0.94. The company has a 50 day moving average price of $80.08 and a 200 day moving average price of $78.67. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued 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 fiscal year.

SEI Investments declared that its Board of Directors has authorized a stock buyback program on Tuesday, March 18th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the asset manager to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

SEIC has been the topic of several research reports. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a report on Thursday, January 30th. 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. Morgan Stanley increased their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a report on Friday, January 3rd. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $90.00 price target (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Finally, Piper Sandler increased their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $90.00.

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.