Allspring Global Investments Holdings LLC Sells 99,146 Shares of SEI Investments (NASDAQ:SEIC)

Allspring Global Investments Holdings LLC reduced its stake in shares of SEI Investments (NASDAQ:SEIC) by 59.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,210 shares of the asset manager’s stock after selling 99,146 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.05% of SEI Investments worth $4,271,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. American Century Companies Inc. boosted its holdings in shares of SEI Investments by 19.8% in the 1st quarter. American Century Companies Inc. now owns 22,215 shares of the asset manager’s stock valued at $1,337,000 after buying an additional 3,666 shares in the last quarter. Private Advisor Group LLC boosted its stake in SEI Investments by 15.3% in the first quarter. Private Advisor Group LLC now owns 4,811 shares of the asset manager’s stock valued at $290,000 after acquiring an additional 639 shares in the last quarter. Bank of Montreal Can grew its holdings in SEI Investments by 18.5% in the first quarter. Bank of Montreal Can now owns 100,910 shares of the asset manager’s stock worth $6,230,000 after purchasing an additional 15,773 shares during the last quarter. Panagora Asset Management Inc. increased its position in shares of SEI Investments by 11.3% during the first quarter. Panagora Asset Management Inc. now owns 19,113 shares of the asset manager’s stock worth $1,151,000 after purchasing an additional 1,943 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of SEI Investments by 9.7% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,563 shares of the asset manager’s stock valued at $2,322,000 after purchasing an additional 3,424 shares during the last quarter. Institutional investors own 70.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. StockNews.com raised SEI Investments from a “hold” rating to a “buy” rating in a research report on Saturday, March 2nd. Oppenheimer upped their price objective on shares of SEI Investments from $77.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, April 9th. Finally, Piper Sandler boosted their target price on shares of SEI Investments from $66.00 to $72.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 10th. 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 company. According to MarketBeat, SEI Investments has a consensus rating of “Hold” and an average price target of $70.25.

Insider Buying and Selling

In other SEI Investments news, EVP Wayne Withrow sold 16,970 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the sale, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at $3,665,197.84. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Chairman Alfred P. West, Jr. sold 150,000 shares of SEI Investments stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $70.75, for a total transaction of $10,612,500.00. Following the completion of the transaction, the chairman now directly owns 7,884,834 shares of the company’s stock, valued at approximately $557,852,005.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Wayne Withrow sold 16,970 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $66.16, for a total transaction of $1,122,735.20. Following the sale, the executive vice president now directly owns 55,399 shares in the company, valued at $3,665,197.84. The disclosure for this sale can be found here. Insiders sold a total of 206,333 shares of company stock valued at $14,481,612 over the last 90 days. Insiders own 15.50% of the company’s stock.

SEI Investments Stock Performance

Shares of SEIC stock opened at $66.13 on Friday. SEI Investments has a fifty-two week low of $52.19 and a fifty-two week high of $72.54. The firm has a market capitalization of $8.70 billion, a PE ratio of 19.11, a P/E/G ratio of 1.35 and a beta of 1.02. The stock’s 50-day simple moving average is $68.52 and its 200-day simple moving average is $63.10.

SEI Investments (NASDAQ:SEIC) last issued its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share for the quarter, hitting the consensus estimate of $0.91. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. The company had revenue of $484.86 million for the quarter, compared to the consensus estimate of $481.39 million. During the same quarter in the prior year, the company earned $0.83 EPS. Sell-side analysts forecast that SEI Investments will post 4.08 earnings per share for the current year.

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.