Sepio Capital LP Sells 1,725 Shares of SEI Investments (NASDAQ:SEIC)

Sepio Capital LP reduced its position in shares of SEI Investments (NASDAQ:SEIC) by 4.4% during the fourth quarter, Holdings Channel reports. The firm owned 37,917 shares of the asset manager’s stock after selling 1,725 shares during the period. Sepio Capital LP’s holdings in SEI Investments were worth $3,127,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in SEI Investments by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,580,737 shares of the asset manager’s stock valued at $212,589,000 after buying an additional 60,307 shares during the last quarter. Boston Trust Walden Corp increased its position in shares of SEI Investments by 1.6% during the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after acquiring an additional 20,020 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in SEI Investments by 4.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock worth $96,645,000 after acquiring an additional 46,425 shares during the period. FMR LLC boosted its position in SEI Investments by 249.7% in the third 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in SEI Investments by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock valued at $55,124,000 after purchasing an additional 3,967 shares during the period. 70.59% of the stock is currently owned by hedge funds and other institutional investors.

SEI Investments Trading Down 6.1 %

SEIC stock opened at $69.02 on Friday. The firm has a 50 day moving average of $79.41 and a 200-day moving average of $78.72. The firm has a market capitalization of $8.76 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.94. SEI Investments has a 12 month low of $62.38 and a 12 month high of $87.25.

SEI Investments (NASDAQ:SEIC) last announced its quarterly earnings results 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 net margin of 27.35% and a return on equity of 25.51%. Sell-side analysts predict that SEI Investments will post 4.86 EPS for the current year.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on SEIC shares. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. 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 report on Thursday, January 30th. Morgan Stanley reduced their target price on shares of SEI Investments from $84.00 to $81.00 and set an “underweight” rating for the company in a research report on Wednesday. Oppenheimer lifted their price target 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, Piper Sandler increased their price objective on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. One equities research 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 MarketBeat, SEI Investments currently has an average rating of “Hold” and a consensus price target of $90.20.

Insider Buying and Selling

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the firm’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction 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 trade represents a 0.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 1,300 shares of the company’s stock, valued at $104,507. This trade represents a 79.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock worth $6,293,903 over the last ninety days. 14.30% of the stock is owned by corporate insiders.

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.