Vanguard Group Inc. Buys 9,489 Shares of SEI Investments (NASDAQ:SEIC)

Vanguard Group Inc. increased its stake in shares of SEI Investments (NASDAQ:SEIC) by 0.1% during the 4th quarter, Holdings Channel reports. The fund owned 11,600,273 shares of the asset manager’s stock after acquiring an additional 9,489 shares during the period. Vanguard Group Inc. owned about 0.09% of SEI Investments worth $956,791,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of SEIC. First Horizon Advisors Inc. raised its holdings in shares of SEI Investments by 25.4% during the fourth 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 period. Venturi Wealth Management LLC increased its position in SEI Investments by 7.3% in the 4th quarter. Venturi Wealth Management LLC now owns 2,105 shares of the asset manager’s stock valued at $174,000 after buying an additional 144 shares in the last quarter. Principal Securities Inc. raised its stake in SEI Investments by 13.3% during the 4th quarter. Principal Securities Inc. now owns 1,324 shares of the asset manager’s stock worth $109,000 after buying an additional 155 shares during the period. Allworth Financial LP boosted its holdings in SEI Investments by 53.7% in 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 in the last quarter. Finally, Parallel Advisors LLC grew its stake in SEI Investments by 0.9% in the fourth quarter. Parallel Advisors LLC now owns 17,261 shares of the asset manager’s stock valued at $1,424,000 after acquiring an additional 158 shares during the period. 70.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Mark Andrew Warner sold 5,000 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $80.39, for a total value of $401,950.00. Following the transaction, the insider now directly owns 1,300 shares of the company’s stock, valued at approximately $104,507. The trade was a 79.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the transaction, the chairman now owns 7,078,708 shares of the company’s stock, valued at approximately $539,963,846.24. The trade was a 0.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 79,214 shares of company stock valued at $6,293,903 over the last three months. Corporate insiders own 14.30% of the company’s stock.

Analyst Ratings Changes

SEIC has been the topic of a number of research reports. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $90.00 target price (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Oppenheimer upped 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. Morgan Stanley lifted their price objective on shares of SEI Investments from $75.00 to $80.00 and gave the company an “underweight” rating in a report on Friday, January 3rd. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 target price on the stock in a report on Thursday, January 30th. Finally, Piper Sandler lifted their price target 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 research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.00.

SEI Investments Price Performance

NASDAQ SEIC opened at $77.11 on Friday. The company has a fifty day moving average price of $80.33 and a 200-day moving average price of $78.36. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 1.41 and a beta of 0.94. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings results on Wednesday, January 29th. The asset manager reported $1.19 earnings per share 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 anticipate that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments declared that its board has approved a stock repurchase plan on Tuesday, March 18th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the asset manager to buy up to 5.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its shares are undervalued.

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.