SEI Investments (NASDAQ:SEIC) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 28.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,237 shares of the asset manager's stock after buying an additional 8,032 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in SEI Investments were worth $2,989,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Taika Capital LP purchased a new position in SEI Investments in the 4th quarter worth approximately $388,000. Rialto Wealth Management LLC bought a new stake in SEI Investments during the 4th quarter valued at $55,000. Machina Capital S.A.S. purchased a new stake in SEI Investments during the 4th quarter valued at $413,000. Haven Private LLC bought a new stake in SEI Investments in the 4th quarter worth $508,000. Finally, Ashton Thomas Private Wealth LLC increased its position in shares of SEI Investments by 10.2% in the fourth quarter. Ashton Thomas Private Wealth LLC now owns 15,875 shares of the asset manager's stock valued at $1,317,000 after acquiring an additional 1,464 shares during the period. Hedge funds and other 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 stock in a transaction that occurred on 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 in the company, valued at approximately $539,963,846.24. This represents a 0.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 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 disclosure for this sale can be found here. Insiders have sold a total of 79,214 shares of company stock worth $6,293,903 in the last quarter. Company insiders own 14.30% of the company's stock.

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SEI Investments Trading Up 1.4 %

Shares of SEI Investments stock traded up $1.08 during trading hours on Wednesday, reaching $76.03. The stock had a trading volume of 520,815 shares, compared to its average volume of 600,045. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The firm has a market capitalization of $9.65 billion, a PE ratio of 17.20, a PEG ratio of 1.41 and a beta of 0.94. The stock's 50 day moving average is $80.99 and its 200 day moving average is $77.93.

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

SEI Investments declared that its Board of Directors has approved a stock buyback plan on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SEIC. Morgan Stanley raised their price target on SEI Investments from $75.00 to $80.00 and gave the stock an "underweight" rating in a research note on Friday, January 3rd. Raymond James upgraded SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Piper Sandler increased their price target on shares of SEI Investments from $77.00 to $87.00 and gave the company a "neutral" rating in a report on Monday, December 23rd. Oppenheimer boosted their price objective on shares of SEI Investments from $85.00 to $94.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods reissued a "market perform" rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $90.00.

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.