Beutel Goodman & Co Ltd. reduced its position in SEI Investments (NASDAQ:SEIC - Free Report) by 33.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,663,869 shares of the asset manager's stock after selling 1,351,040 shares during the quarter. Beutel Goodman & Co Ltd. owned approximately 2.07% of SEI Investments worth $219,715,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC boosted its holdings in SEI Investments by 13.5% in the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after purchasing an additional 300,704 shares during the period. Boston Trust Walden Corp grew its position in shares of 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 buying an additional 20,020 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager's stock worth $96,645,000 after buying an additional 46,425 shares during the period. FMR LLC raised its holdings in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock valued at $61,241,000 after acquiring an additional 632,024 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in SEI Investments by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager's stock worth $55,124,000 after acquiring an additional 3,967 shares during the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Oppenheimer increased their price objective 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. Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a research note on Monday, December 23rd. Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Morgan Stanley dropped their price objective on SEI Investments from $84.00 to $81.00 and set an "underweight" rating on the stock in a report on Wednesday. Finally, Raymond James raised 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. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, SEI Investments currently has an average rating of "Hold" and an average target price of $90.20.
Check Out Our Latest Analysis on SEI Investments
SEI Investments Stock Performance
NASDAQ SEIC traded up $0.46 during trading hours on Wednesday, hitting $77.74. The company had a trading volume of 284,391 shares, compared to its average volume of 626,517. The business has a 50 day moving average of $80.08 and a 200-day moving average of $78.67. The company has a market cap of $9.87 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. 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 announced its 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 net margin of 27.35% and a return on equity of 25.51%. Sell-side analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.
SEI Investments announced that its Board of Directors has authorized a stock buyback plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
Insider Activity
In related news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the sale, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. This represents a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments 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 completion of the transaction, the insider now owns 1,300 shares in the company, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is currently owned by company insiders.
SEI Investments Profile
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Free Report)
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.
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