Loomis Sayles & Co. L P Cuts Stock Holdings in SEI Investments (NASDAQ:SEIC)

Loomis Sayles & Co. L P lessened its stake in SEI Investments (NASDAQ:SEIC - Free Report) by 3.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,837,307 shares of the asset manager's stock after selling 310,622 shares during the period. SEI Investments accounts for about 78.7% of Loomis Sayles & Co. L P's holdings, making the stock its 23rd biggest position. Loomis Sayles & Co. L P owned approximately 6.86% of SEI Investments worth $728,902,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elo Mutual Pension Insurance Co purchased a new position in SEI Investments during the 4th quarter worth $1,092,000. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new position in SEI Investments during the fourth quarter worth about $709,000. Florida Financial Advisors LLC purchased a new stake in SEI Investments in the 4th quarter valued at approximately $350,000. Ashton Thomas Securities LLC increased its position in SEI Investments by 2.5% during the 4th quarter. Ashton Thomas Securities LLC now owns 5,969 shares of the asset manager's stock worth $492,000 after purchasing an additional 145 shares during the period. Finally, CoreFirst Bank & Trust purchased a new position in shares of SEI Investments during the 4th quarter worth approximately $31,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

SEI Investments Trading Down 0.6 %

Shares of SEIC stock traded down $0.43 during trading hours on Monday, hitting $76.68. The company's stock had a trading volume of 111,790 shares, compared to its average volume of 623,786. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a market cap of $9.73 billion, a price-to-earnings ratio of 17.33, a P/E/G ratio of 1.41 and a beta of 0.94. The business has a fifty day moving average of $80.33 and a 200-day moving average of $78.52.

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SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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%. On average, equities analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its Board of Directors has initiated a share repurchase 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 purchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on SEIC shares. Piper Sandler upped their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a report on Monday, December 23rd. Oppenheimer raised their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. Morgan Stanley upped their target price on shares of SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a research report on Friday, January 3rd. Keefe, Bruyette & Woods reiterated 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. Finally, Raymond James raised SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target on the stock in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, SEI Investments presently has a consensus rating of "Hold" and an average price target of $90.00.

Insider Activity at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of SEI Investments 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 completion of the sale, the insider now directly owns 1,300 shares of the company's stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the transaction, the chairman now directly 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. In the last quarter, insiders sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is owned by insiders.

SEI Investments 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.