Headlands Technologies LLC Sells 11,586 Shares of SEI Investments (NASDAQ:SEIC)

Headlands Technologies LLC lessened its holdings in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 79.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,988 shares of the asset manager's stock after selling 11,586 shares during the period. Headlands Technologies LLC's holdings in SEI Investments were worth $246,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. FMR LLC raised its stake in SEI Investments by 249.7% in the third quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after buying an additional 632,024 shares in the last quarter. Norges Bank bought a new position in shares of SEI Investments in the 4th quarter worth approximately $48,009,000. Raymond James Financial Inc. purchased a new position in shares of SEI Investments in the 4th quarter valued at approximately $42,548,000. Los Angeles Capital Management LLC purchased a new stake in SEI Investments in the fourth quarter worth $26,702,000. Finally, Geode Capital Management LLC raised 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 worth $174,092,000 after purchasing an additional 300,704 shares in the last quarter. Hedge funds and other institutional investors own 70.59% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Oppenheimer increased their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Piper Sandler lowered their target price on shares of SEI Investments from $87.00 to $74.00 and set a "neutral" rating for the company in a report on Tuesday. Raymond James upgraded 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. Keefe, Bruyette & Woods reiterated a "market perform" rating and set a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Morgan Stanley raised SEI Investments from an "underweight" rating to an "overweight" rating and cut their target price for the stock from $81.00 to $77.00 in a research note on Monday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, SEI Investments currently has a consensus rating of "Moderate Buy" and an average price target of $86.80.

Remove Ads

SEI Investments Price Performance

Shares of NASDAQ:SEIC traded down $2.62 during trading on Thursday, hitting $70.41. 205,282 shares of the company's stock were exchanged, compared to its average volume of 640,031. The business's 50-day simple moving average is $77.88 and its 200 day simple moving average is $78.67. SEI Investments has a 52-week low of $62.38 and a 52-week high of $87.25. The company has a market cap of $8.94 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 1.41 and a beta of 0.90.

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

SEI Investments announced that its Board of Directors has authorized a stock buyback program on Tuesday, March 18th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the asset manager to purchase up to 5.3% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of SEI Investments stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total value of $5,787,296.90. Following the sale, the chairman now owns 7,160,080 shares of the company's stock, 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 the SEC website. Also, insider Mark Andrew Warner sold 5,000 shares of the 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 transaction, the insider now owns 1,300 shares of the company's stock, valued at $104,507. This represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 over the last 90 days. Corporate insiders own 14.30% of the company's stock.

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.