Brandywine Global Investment Management LLC Sells 5,340 Shares of SEI Investments (NASDAQ:SEIC)

Brandywine Global Investment Management LLC reduced its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 67,880 shares of the asset manager's stock after selling 5,340 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.05% of SEI Investments worth $5,599,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its holdings in SEI Investments by 33.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 943 shares of the asset manager's stock worth $77,000 after acquiring an additional 238 shares during the period. Schroder Investment Management Group grew its stake in SEI Investments by 72.7% during the fourth quarter. Schroder Investment Management Group now owns 146,235 shares of the asset manager's stock worth $12,085,000 after purchasing an additional 61,580 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in SEI Investments by 11.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 303,078 shares of the asset manager's stock worth $24,998,000 after purchasing an additional 30,377 shares during the period. Allstate Corp bought a new stake in SEI Investments in the fourth quarter worth approximately $216,000. Finally, DnB Asset Management AS lifted its stake in SEI Investments by 2.1% in the fourth quarter. DnB Asset Management AS now owns 21,925 shares of the asset manager's stock valued at $1,808,000 after buying an additional 450 shares during the period. 70.59% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

SEIC has been the subject of several recent analyst reports. Piper Sandler raised their price objective on shares of SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a research report on Monday, December 23rd. 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 research note on Thursday, January 30th. Morgan Stanley cut their price objective on shares of SEI Investments from $84.00 to $81.00 and set an "underweight" rating on the stock in a research report on Wednesday. Keefe, Bruyette & Woods restated a "market perform" rating and issued a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Oppenheimer increased their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $90.20.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction 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 completion of the sale, the insider now owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm's stock in a transaction dated 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 transaction, the chairman now directly owns 7,160,080 shares in the company, valued at $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. In the last three months, insiders sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is owned by insiders.

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded down $4.10 during midday trading on Thursday, hitting $73.49. 727,474 shares of the company's stock were exchanged, compared to its average volume of 630,602. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25. The company has a market cap of $9.33 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. The stock has a 50 day moving average price of $79.73 and a 200-day moving average price of $78.63.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data 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%. On average, analysts anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

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

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.