SEI Investments (NASDAQ:SEIC) is Royce & Associates LP's 3rd Largest Position

Royce & Associates LP decreased its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 7.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,357,239 shares of the asset manager's stock after selling 108,167 shares during the quarter. SEI Investments makes up approximately 1.0% of Royce & Associates LP's holdings, making the stock its 3rd largest holding. Royce & Associates LP owned about 1.05% of SEI Investments worth $111,945,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SEIC. Envestnet Portfolio Solutions Inc. grew its stake in shares of SEI Investments by 29.6% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,119 shares of the asset manager's stock worth $917,000 after purchasing an additional 2,542 shares during the period. Globeflex Capital L P acquired a new stake in SEI Investments in the 4th quarter valued at approximately $148,000. Catalyst Funds Management Pty Ltd raised its holdings in shares of SEI Investments by 200.0% in the fourth quarter. Catalyst Funds Management Pty Ltd now owns 6,000 shares of the asset manager's stock valued at $495,000 after purchasing an additional 4,000 shares during the last quarter. Brandes Investment Partners LP increased its stake in SEI Investments by 11.2% in the 4th quarter. Brandes Investment Partners LP now owns 17,610 shares of the asset manager's stock valued at $1,452,000 after buying an additional 1,772 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position 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 acquiring an additional 172 shares during the last quarter. 70.59% of the stock is owned by institutional investors and hedge funds.

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SEI Investments Price Performance

NASDAQ SEIC traded down $0.06 during trading hours on Thursday, reaching $76.01. The company's stock had a trading volume of 785,215 shares, compared to its average volume of 601,119. SEI Investments has a 52 week low of $62.38 and a 52 week high of $87.25. The stock has a market cap of $9.65 billion, a P/E ratio of 17.20, a P/E/G ratio of 1.41 and a beta of 0.94. The firm has a fifty day simple moving average of $80.88 and a 200-day simple moving average of $77.92.

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 for the quarter, missing the consensus estimate of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. On average, research analysts expect that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments announced that its board has initiated a stock repurchase plan on Tuesday, March 18th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insider Buying and Selling at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments 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 sale, the chairman now owns 7,160,080 shares in the company, valued at $568,868,356. The trade was a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the company's 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 transaction, the insider now owns 1,300 shares in the company, valued at $104,507. This represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley upped their price target 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 reissued a "market perform" rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. Oppenheimer raised their price target on SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Piper Sandler lifted 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. Finally, Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $90.00.

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.