Vanguard Group Inc. Acquires 9,489 Shares of SEI Investments (NASDAQ:SEIC)

Vanguard Group Inc. increased its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,600,273 shares of the asset manager's stock after buying an additional 9,489 shares during the period. Vanguard Group Inc. owned 9.00% of SEI Investments worth $956,791,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its stake in shares of SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after purchasing an additional 158 shares during the last quarter. Point72 DIFC Ltd acquired a new position in SEI Investments during the 3rd quarter worth $45,000. First Horizon Advisors Inc. boosted its position in SEI Investments by 25.4% in the 4th quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock valued at $48,000 after buying an additional 117 shares during the last quarter. Rialto Wealth Management LLC acquired a new position in shares of SEI Investments during the fourth quarter valued at $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in 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. Institutional investors own 70.59% of the company's stock.

Insider Transactions at SEI Investments

In related news, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's 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 completion of the transaction, the chairman now directly owns 7,078,708 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated 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 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. 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 company insiders.

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Wall Street Analyst Weigh In

A number of research analysts have issued reports on SEIC shares. Keefe, Bruyette & Woods restated a "market perform" rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Oppenheimer boosted 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. Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price objective on the stock in a research note on Thursday, January 30th. Morgan Stanley upped their target price on shares of SEI Investments from $75.00 to $80.00 and gave the company an "underweight" rating in a research report on Friday, January 3rd. Finally, Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the stock a "neutral" rating in a research report on Monday, December 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $90.00.

SEI Investments Price Performance

SEIC traded down $0.22 during mid-day trading on Wednesday, hitting $77.07. The stock had a trading volume of 108,412 shares, compared to its average volume of 625,920. The stock's fifty day simple moving average is $80.08 and its 200-day simple moving average is $78.67. The firm has a market capitalization of $9.78 billion, a price-to-earnings ratio of 17.40, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a 1-year low of $62.38 and a 1-year high of $87.25.

SEI Investments (NASDAQ:SEIC - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The asset manager reported $1.19 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%. As a group, research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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