Arrowstreet Capital Limited Partnership Raises Stock Holdings in SEI Investments (NASDAQ:SEIC)

Arrowstreet Capital Limited Partnership lifted its holdings in SEI Investments (NASDAQ:SEIC) by 11.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 303,078 shares of the asset manager’s stock after purchasing an additional 30,377 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in SEI Investments were worth $24,998,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CoreFirst Bank & Trust bought a new stake in shares of SEI Investments in the 4th quarter worth about $31,000. Allworth Financial LP increased its stake in SEI Investments by 53.7% during the fourth quarter. Allworth Financial LP now owns 452 shares of the asset manager’s stock worth $38,000 after acquiring an additional 158 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in SEI Investments during the third quarter valued at approximately $45,000. First Horizon Advisors Inc. lifted its stake in shares of 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 purchasing an additional 117 shares during the last quarter. Finally, Rialto Wealth Management LLC purchased a new position in shares of SEI Investments in the 4th quarter worth approximately $55,000. Institutional investors own 70.59% of the company’s stock.

SEI Investments Price Performance

Shares of SEIC stock opened at $73.49 on Friday. The company has a market capitalization of $9.33 billion, a P/E ratio of 16.63, a P/E/G ratio of 1.41 and a beta of 0.94. The company’s 50-day simple moving average is $79.73 and its two-hundred day simple moving average is $78.63. SEI Investments has a one year low of $62.38 and a one year high of $87.25.

SEI Investments (NASDAQ:SEIC) last released 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%. On average, research analysts expect that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has approved a stock buyback program on Tuesday, March 18th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 5.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SEIC. Oppenheimer increased their price target 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 upgraded shares of 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. Morgan Stanley cut their price target on shares of SEI Investments from $84.00 to $81.00 and set an “underweight” rating on the stock in a report on Wednesday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $90.00 price objective (up previously from $86.00) on shares of SEI Investments in a research note on Thursday, January 30th. Finally, Piper Sandler upped their target price on SEI Investments from $77.00 to $87.00 and gave the company a “neutral” rating in a research note 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 given a buy rating to the company. According to data from MarketBeat, SEI Investments presently has an average rating of “Hold” and an average target price of $90.20.

Insider Activity at SEI Investments

In other SEI Investments news, Chairman Alfred P. West, Jr. sold 72,842 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares of the company’s stock, valued at approximately $568,868,356. This trade represents a 1.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of the company’s stock in a transaction that occurred 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 sale, the insider now directly owns 1,300 shares of the company’s stock, valued at $104,507. The trade was a 79.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 79,214 shares of company stock worth $6,293,903 over the last three months. 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.