United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Takes $709,000 Position in SEI Investments (NASDAQ:SEIC)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund bought a new stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 8,600 shares of the asset manager's stock, valued at approximately $709,000.

Several other institutional investors and hedge funds have also modified their holdings of SEIC. FMR LLC raised its holdings in SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager's stock worth $61,241,000 after purchasing an additional 632,024 shares during the period. Raymond James Financial Inc. purchased a new stake in SEI Investments in the fourth quarter worth about $42,548,000. Los Angeles Capital Management LLC purchased a new position in shares of SEI Investments during the 4th quarter valued at about $26,702,000. Geode Capital Management LLC grew its stake in shares of SEI Investments by 13.5% during 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 acquiring an additional 300,704 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in SEI Investments in the 4th quarter worth approximately $13,454,000. Hedge funds and other institutional investors own 70.59% of the company's stock.

SEI Investments Stock Down 1.3 %

SEI Investments stock traded down $1.04 during midday trading on Friday, reaching $77.11. 907,715 shares of the stock traded hands, compared to its average volume of 625,777. The stock has a market cap of $9.79 billion, a P/E ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94. The stock's fifty day moving average is $80.33 and its 200-day moving average is $78.44. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

Remove Ads

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued 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 return on equity of 25.51% and a net margin of 27.35%. On average, equities analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

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

Analyst Ratings Changes

SEIC has been the subject of a number of recent analyst reports. Oppenheimer upped their price target on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. 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 report on Thursday, January 30th. Piper Sandler upped their price objective on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a research note on Monday, December 23rd. Morgan Stanley lifted their target price on SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research note on Friday, January 3rd. Finally, Keefe, Bruyette & Woods restated a "market perform" rating and issued a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $90.00.

Insider Activity at SEI Investments

In other news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was 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 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 document filed with the SEC, which can be accessed through the SEC website. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction on 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 $539,963,846.24. The trade was 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 90 days. 14.30% of the stock is owned by corporate 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.