Intech Investment Management LLC boosted its position in SEI Investments (NASDAQ:SEIC – Get Rating) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,615 shares of the asset manager’s stock after purchasing an additional 602 shares during the quarter. Intech Investment Management LLC’s holdings in SEI Investments were worth $677,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in SEIC. State Street Corp lifted its position in SEI Investments by 8.0% in the first quarter. State Street Corp now owns 6,143,049 shares of the asset manager’s stock worth $369,873,000 after purchasing an additional 452,434 shares during the period. BlackRock Inc. lifted its position in SEI Investments by 2.3% in the first quarter. BlackRock Inc. now owns 11,645,954 shares of the asset manager’s stock worth $701,203,000 after purchasing an additional 260,417 shares during the period. PGGM Investments acquired a new stake in SEI Investments in the third quarter worth approximately $10,617,000. ProShare Advisors LLC lifted its position in SEI Investments by 39.5% in the fourth quarter. ProShare Advisors LLC now owns 684,040 shares of the asset manager’s stock worth $39,880,000 after purchasing an additional 193,691 shares during the period. Finally, Royal Bank of Canada lifted its position in SEI Investments by 51.1% in the first quarter. Royal Bank of Canada now owns 306,221 shares of the asset manager’s stock worth $18,437,000 after purchasing an additional 103,523 shares during the period. 69.45% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at SEI Investments
In other SEI Investments news, Director Sarah Blumenstein sold 10,546 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $60.22, for a total transaction of $635,080.12. Following the sale, the director now directly owns 6,447 shares of the company’s stock, valued at approximately $388,238.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other SEI Investments news, Director Sarah Blumenstein sold 10,546 shares of the business’s stock in a transaction on Tuesday, February 21st. The shares were sold at an average price of $60.22, for a total transaction of $635,080.12. Following the sale, the director now directly owns 6,447 shares of the company’s stock, valued at approximately $388,238.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Alfred P. West, Jr. sold 36,462 shares of the company’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $55.40, for a total transaction of $2,019,994.80. Following the completion of the transaction, the chairman now directly owns 8,749,687 shares in the company, valued at $484,732,659.80. The disclosure for this sale can be found here. Insiders have sold a total of 128,567 shares of company stock valued at $7,187,073 in the last three months. 25.40% of the stock is currently owned by company insiders.
SEI Investments Stock Performance
SEI Investments (NASDAQ:SEIC – Get Rating) last announced its earnings results on Thursday, April 20th. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.82 by ($0.03). SEI Investments had a net margin of 20.88% and a return on equity of 22.29%. The firm had revenue of $469.12 million for the quarter, compared to analyst estimates of $468.79 million. During the same period last year, the firm earned $1.36 earnings per share. SEI Investments’s revenue for the quarter was down 19.3% compared to the same quarter last year. On average, research analysts forecast that SEI Investments will post 3.38 earnings per share for the current year.
SEI Investments declared that its board has authorized a share buyback program on Tuesday, April 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase up to 3.1% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on the company. StockNews.com began coverage on SEI Investments in a research report on Thursday. They issued a “hold” rating for the company. Oppenheimer reaffirmed an “outperform” rating and issued a $68.00 price target on shares of SEI Investments in a report on Tuesday, April 4th. Piper Sandler began coverage on SEI Investments in a report on Wednesday, March 29th. They issued a “neutral” rating and a $60.00 price target on the stock. Finally, Morgan Stanley upped their price target on SEI Investments from $54.00 to $58.00 and gave the company an “underweight” rating in a report on Monday, April 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $60.80.
About SEI Investments
SEI Investments Co engages in the provision of investment processing, investment management and investment operations platforms. It operates through the following business segments: Private Banks, Investment Advisors, Institutional Investors, Investment Managers, and Investments in New Businesses. The Private Banks segment provides outsourced investment processing and investment management platforms to banks and trust institutions, independent wealth advisers and financial advisors worldwide.
- Get a free copy of the StockNews.com research report on SEI Investments (SEIC)
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