First Trust Advisors LP Reduces Holdings in SEI Investments (NASDAQ:SEIC)

First Trust Advisors LP lowered its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 49.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 482,575 shares of the asset manager's stock after selling 468,603 shares during the period. First Trust Advisors LP owned approximately 0.37% of SEI Investments worth $39,803,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Zacks Investment Management bought a new position in SEI Investments in the 4th quarter worth about $7,102,000. Jump Financial LLC bought a new position in shares of SEI Investments in the fourth quarter valued at approximately $3,075,000. Aware Super Pty Ltd as trustee of Aware Super purchased a new position in SEI Investments during the fourth quarter valued at approximately $23,710,000. CreativeOne Wealth LLC bought a new stake in SEI Investments during the 4th quarter worth approximately $242,000. Finally, Mariner LLC lifted its stake in SEI Investments by 5.2% in the 4th quarter. Mariner LLC now owns 8,404 shares of the asset manager's stock worth $693,000 after purchasing an additional 419 shares in the last quarter. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Stock Performance

NASDAQ:SEIC traded down $0.81 during mid-day trading on Monday, reaching $77.78. The stock had a trading volume of 687,717 shares, compared to its average volume of 652,272. The stock has a market capitalization of $9.78 billion, a P/E ratio of 17.60, a P/E/G ratio of 1.41 and a beta of 0.90. SEI Investments has a one year low of $62.38 and a one year high of $87.25. The firm has a 50 day moving average price of $75.24 and a two-hundred day moving average price of $79.04.

SEI Investments (NASDAQ:SEIC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a return on equity of 25.51% and a net margin of 27.35%. The business had revenue of $551.34 million for the quarter, compared to analysts' expectations of $556.76 million. During the same period in the previous year, the firm earned $0.99 EPS. The business's quarterly revenue was up 7.8% on a year-over-year basis. Research analysts forecast 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 plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding 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 usually a sign that the company's board believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Oppenheimer reaffirmed an "outperform" rating on shares of SEI Investments in a report on Thursday. StockNews.com upgraded SEI Investments from a "hold" rating to a "buy" rating in a research note on Thursday. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target for the company in a research report on Thursday, January 30th. William Blair restated a "market perform" rating on shares of SEI Investments in a research report on Thursday. Finally, Morgan Stanley reiterated an "overweight" rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.60.

Insider Buying and Selling

In other news, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction dated 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 sale, the insider now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total value of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares in the company, valued at approximately $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 a total of 79,214 shares of company stock valued at $6,293,903 over the last three months. 14.30% of the stock is owned by company insiders.

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.