Bridgewater Associates LP Has $3.54 Million Stake in SEI Investments (NASDAQ:SEIC)

Bridgewater Associates LP reduced its position in SEI Investments (NASDAQ:SEIC) by 19.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 42,920 shares of the asset manager’s stock after selling 10,166 shares during the quarter. Bridgewater Associates LP’s holdings in SEI Investments were worth $3,540,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of SEIC. Geode Capital Management LLC lifted its stake in shares of SEI Investments by 2.4% in the fourth 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 in the last quarter. Boston Trust Walden Corp raised its holdings in shares of SEI Investments by 1.6% in the 4th quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock worth $107,746,000 after acquiring an additional 20,020 shares during the last quarter. FMR LLC lifted its position in SEI Investments by 39.3% in the 4th quarter. FMR LLC now owns 1,233,225 shares of the asset manager’s stock valued at $101,716,000 after acquiring an additional 348,112 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in SEI Investments by 4.1% during the 4th quarter. Bank of New York Mellon Corp now owns 1,171,743 shares of the asset manager’s stock valued at $96,645,000 after purchasing an additional 46,425 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in SEI Investments by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 668,333 shares of the asset manager’s stock worth $55,124,000 after purchasing an additional 3,967 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 news, Chairman Alfred P. West, Jr. sold 72,842 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $79.45, for a total transaction of $5,787,296.90. Following the completion of the transaction, the chairman now owns 7,160,080 shares in the company, valued at approximately $568,868,356. This represents a 1.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Mark Andrew Warner sold 5,000 shares of SEI Investments stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $80.39, for a total value 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 approximately $104,507. This trade represents a 79.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.30% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler dropped their target price on SEI Investments from $87.00 to $74.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Keefe, Bruyette & Woods reaffirmed 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. StockNews.com downgraded shares of SEI Investments from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer boosted 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, Morgan Stanley upgraded shares of SEI Investments from an “underweight” rating to an “overweight” rating and decreased their price objective for the company from $81.00 to $77.00 in a research note on Monday, April 7th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, SEI Investments has a consensus rating of “Moderate Buy” and an average target price of $86.80.

SEI Investments Stock Performance

Shares of NASDAQ:SEIC opened at $71.66 on Friday. SEI Investments has a fifty-two week low of $62.38 and a fifty-two week high of $87.25. The company’s 50-day moving average is $76.26 and its 200 day moving average is $78.74. The company has a market capitalization of $9.10 billion, a P/E ratio of 16.21, a price-to-earnings-growth ratio of 1.41 and a beta of 0.90.

SEI Investments (NASDAQ:SEIC) last released its earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.02). SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. As a group, research analysts predict that SEI Investments will post 4.86 earnings per share for the current year.

SEI Investments declared that its board has approved a stock 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 purchase 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 shares are undervalued.

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.