Vanguard Group Inc. Has $956.79 Million Stock Holdings in SEI Investments (NASDAQ:SEIC)

Vanguard Group Inc. raised its position in shares of SEI Investments (NASDAQ:SEIC) by 0.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,600,273 shares of the asset manager’s stock after purchasing an additional 9,489 shares during the period. Vanguard Group Inc. owned approximately 9.00% of SEI Investments worth $956,791,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. King Luther Capital Management Corp acquired a new position in shares of SEI Investments during the 4th quarter worth $2,645,000. Boston Trust Walden Corp grew its position in SEI Investments by 1.6% in the fourth quarter. Boston Trust Walden Corp now owns 1,306,329 shares of the asset manager’s stock valued at $107,746,000 after acquiring an additional 20,020 shares during the last quarter. Longboard Asset Management LP acquired a new position in SEI Investments during the fourth quarter worth about $267,000. New York Life Investment Management LLC bought a new position in shares of SEI Investments in the fourth quarter worth about $863,000. Finally, CHURCHILL MANAGEMENT Corp acquired a new stake in shares of SEI Investments in the 4th quarter valued at approximately $1,818,000. 70.59% of the stock is currently owned by institutional investors.

Insider Activity at SEI Investments

In other news, Chairman Alfred P. West, Jr. sold 72,842 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $79.45, for a total value of $5,787,296.90. Following the transaction, the chairman now owns 7,160,080 shares in the company, valued at approximately $568,868,356. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Andrew Warner sold 5,000 shares of the stock in a transaction 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 sale, the insider now owns 1,300 shares of the company’s stock, valued at approximately $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 have sold 79,214 shares of company stock worth $6,293,903 over the last ninety days. Insiders own 14.30% of the company’s stock.

SEI Investments Stock Down 1.3 %

Shares of SEI Investments stock opened at $77.11 on Friday. The stock has a market cap of $9.79 billion, a price-to-earnings ratio of 17.45, a P/E/G ratio of 1.41 and a beta of 0.94. SEI Investments has a twelve month low of $62.38 and a twelve month high of $87.25. The company’s fifty day moving average is $80.33 and its 200 day moving average is $78.36.

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

SEI Investments announced that its Board of Directors has approved a stock repurchase plan on Tuesday, March 18th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the asset manager to reacquire up to 5.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on SEIC. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $90.00 price objective (up from $86.00) on shares of SEI Investments in a research report on Thursday, January 30th. Raymond James upgraded shares of SEI Investments from a “market perform” rating to an “outperform” rating and set a $99.00 price target for the company in a report on Thursday, January 30th. Oppenheimer raised their price objective on SEI Investments from $85.00 to $94.00 and gave the company an “outperform” rating in a report on Tuesday, January 7th. Morgan Stanley upped their target price on SEI Investments from $75.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, January 3rd. 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 analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.00.

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.