SEI Investments (NASDAQ:SEIC) Shares Sold by Tredje AP fonden

Tredje AP fonden cut its holdings in SEI Investments (NASDAQ:SEIC - Free Report) by 50.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,427 shares of the asset manager's stock after selling 8,426 shares during the quarter. Tredje AP fonden's holdings in SEI Investments were worth $695,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its position in SEI Investments by 249.7% during 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. Raymond James Financial Inc. acquired a new stake in shares of SEI Investments during the fourth quarter valued at $42,548,000. Los Angeles Capital Management LLC purchased a new stake in SEI Investments during the 4th quarter worth about $26,702,000. Geode Capital Management LLC raised its stake in SEI Investments by 13.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager's stock valued at $174,092,000 after purchasing an additional 300,704 shares during the last quarter. Finally, Portman Square Capital LLP lifted its holdings in SEI Investments by 113.1% in the 4th quarter. Portman Square Capital LLP now owns 17,408 shares of the asset manager's stock valued at $1,436,000 after purchasing an additional 149,840 shares in the last quarter. 70.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company'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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company's 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 sale, the insider now owns 1,300 shares in the company, valued at $104,507. The trade was a 79.37 % decrease in their position. 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. Corporate insiders own 14.30% of the company's stock.

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Wall Street Analysts Forecast Growth

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

SEI Investments Price Performance

NASDAQ SEIC traded up $1.12 during trading hours on Wednesday, hitting $76.07. The company had a trading volume of 772,276 shares, compared to its average volume of 600,045. The firm's 50 day moving average is $80.99 and its 200 day moving average is $77.93. The company has a market capitalization of $9.66 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25.

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 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, equities analysts anticipate that SEI Investments will post 4.86 EPS for the current year.

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

About SEI Investments

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.