Wells Fargo & Company MN Has $3.59 Million Position in SEI Investments (NASDAQ:SEIC)

Wells Fargo & Company MN lessened its position in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 48.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,503 shares of the asset manager's stock after selling 41,506 shares during the period. Wells Fargo & Company MN's holdings in SEI Investments were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in SEIC. CoreFirst Bank & Trust acquired a new stake in shares of SEI Investments in the 4th quarter valued at $31,000. Allworth Financial LP grew its position in SEI Investments by 53.7% in the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager's stock valued at $38,000 after acquiring an additional 158 shares during the last quarter. First Horizon Advisors Inc. raised its stake in SEI Investments by 25.4% during the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after acquiring an additional 117 shares in the last quarter. Rialto Wealth Management LLC bought a new position in shares of SEI Investments in the fourth quarter worth about $55,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of SEI Investments by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock valued at $71,000 after purchasing an additional 172 shares in the last quarter. Institutional investors and hedge funds own 70.59% of the company's stock.

Insider Buying and Selling at SEI Investments

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $80.39, for a total transaction of $401,950.00. Following the sale, the insider now owns 1,300 shares of the company's stock, valued at approximately $104,507. This represents a 79.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of SEI Investments stock in a transaction dated Wednesday, March 5th. The stock was 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 trade represents a 0.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 79,214 shares of company stock valued at $6,293,903. 14.30% of the stock is currently owned by company insiders.

SEI Investments Stock Up 3.2 %

NASDAQ SEIC opened at $71.90 on Wednesday. The company has a market capitalization of $9.04 billion, a price-to-earnings ratio of 16.27, a PEG ratio of 1.41 and a beta of 0.90. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a fifty day simple moving average of $75.58 and a 200 day simple moving average of $78.84.

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%. Research analysts expect that SEI Investments will post 4.86 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on SEIC shares. Morgan Stanley upgraded shares of SEI Investments from an "underweight" rating to an "overweight" rating and lowered their price objective for the stock from $81.00 to $77.00 in a research report on Monday, April 7th. Piper Sandler dropped their price target on SEI Investments from $87.00 to $74.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. Raymond James raised 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. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $90.00 price target (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, SEI Investments has an average rating of "Moderate Buy" and an average price target of $86.80.

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.

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