Meiji Yasuda Asset Management Co Ltd. Sells 2,305 Shares of SEI Investments (NASDAQ:SEIC)

Meiji Yasuda Asset Management Co Ltd. cut its stake in SEI Investments (NASDAQ:SEIC) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 74,121 shares of the asset manager’s stock after selling 2,305 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in SEI Investments were worth $6,114,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. FMR LLC lifted its holdings in shares of SEI Investments by 249.7% in the 3rd quarter. FMR LLC now owns 885,113 shares of the asset manager’s stock worth $61,241,000 after acquiring an additional 632,024 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in SEI Investments in the 4th quarter worth about $42,548,000. Los Angeles Capital Management LLC bought a new stake in SEI Investments in the fourth quarter worth about $26,702,000. Geode Capital Management LLC boosted its position in shares of SEI Investments by 13.5% during the third quarter. Geode Capital Management LLC now owns 2,520,430 shares of the asset manager’s stock valued at $174,092,000 after buying an additional 300,704 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of SEI Investments during the fourth quarter valued at approximately $13,454,000. 70.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on SEIC shares. Piper Sandler raised their price target on SEI Investments from $77.00 to $87.00 and gave the stock a “neutral” rating in a research note on Monday, December 23rd. 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 report on Thursday, January 30th. Oppenheimer boosted their target price on shares of SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Morgan Stanley raised their price target on shares of SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, January 3rd. Finally, Raymond James raised shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price objective for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, SEI Investments presently has a consensus rating of “Hold” and an average price target of $90.00.

Insiders Place Their Bets

In other news, Chairman Alfred P. West, Jr. sold 1,372 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $76.28, for a total value of $104,656.16. Following the completion of the transaction, the chairman now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible 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 value of $401,950.00. Following the sale, 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 90 days. Company insiders own 14.30% of the company’s stock.

SEI Investments Trading Up 1.1 %

Shares of SEIC stock opened at $78.27 on Wednesday. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The stock has a fifty day simple moving average of $80.62 and a two-hundred day simple moving average of $78.28. The stock has a market capitalization of $9.94 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.41 and a beta of 0.94.

SEI Investments (NASDAQ:SEIC) last released its quarterly earnings data 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 return on equity of 25.51% and a net margin of 27.35%. Research analysts predict that SEI Investments will post 4.86 EPS for the current fiscal year.

SEI Investments announced that its board has approved a share buyback plan on Tuesday, March 18th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the asset manager to reacquire up to 5.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.