SEI Investments (NASDAQ:SEIC) Shares Purchased by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. raised its stake in shares of SEI Investments (NASDAQ:SEICFree Report) by 13.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,812 shares of the asset manager’s stock after buying an additional 816 shares during the period. First Citizens Bank & Trust Co.’s holdings in SEI Investments were worth $433,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SEIC. DHJJ Financial Advisors Ltd. bought a new position in shares of SEI Investments during the 3rd quarter valued at about $27,000. VisionPoint Advisory Group LLC boosted its position in shares of SEI Investments by 67.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 513 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 206 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of SEI Investments during the 3rd quarter valued at about $37,000. Vestor Capital LLC bought a new position in shares of SEI Investments during the 2nd quarter valued at about $45,000. Finally, UniSuper Management Pty Ltd bought a new position in shares of SEI Investments during the 2nd quarter valued at about $48,000. Institutional investors and hedge funds own 70.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SEIC. Piper Sandler raised their price objective on shares of SEI Investments from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Wednesday, December 20th. StockNews.com upgraded shares of SEI Investments from a “hold” rating to a “buy” rating in a report on Saturday, March 2nd. Finally, Oppenheimer raised their target price on shares of SEI Investments from $73.00 to $77.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. 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 company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Get Our Latest Research Report on SEIC

SEI Investments Price Performance

Shares of SEIC opened at $70.56 on Wednesday. SEI Investments has a one year low of $52.19 and a one year high of $72.54. The company has a 50-day moving average of $67.67 and a two-hundred day moving average of $62.41. The stock has a market cap of $9.27 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 1.48 and a beta of 1.02.

SEI Investments (NASDAQ:SEICGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The asset manager reported $0.91 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.91. The business had revenue of $484.86 million during the quarter, compared to analyst estimates of $481.39 million. SEI Investments had a net margin of 24.08% and a return on equity of 22.40%. During the same period in the prior year, the firm earned $0.83 earnings per share. Analysts anticipate that SEI Investments will post 4 earnings per share for the current year.

SEI Investments declared that its Board of Directors has authorized a stock repurchase plan on Friday, December 15th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the asset manager to buy up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at SEI Investments

In other news, EVP Wayne Withrow sold 16,970 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the completion of the sale, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at $3,665,197.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Wayne Withrow sold 16,970 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $66.16, for a total value of $1,122,735.20. Following the completion of the sale, the executive vice president now directly owns 55,399 shares of the company’s stock, valued at $3,665,197.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Sanjay Sharma sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $67.20, for a total transaction of $1,008,000.00. Following the transaction, the insider now directly owns 16,895 shares in the company, valued at approximately $1,135,344. The disclosure for this sale can be found here. Insiders sold 206,333 shares of company stock valued at $14,481,612 over the last three months. 15.50% of the stock is owned by corporate insiders.

SEI Investments Profile

(Free Report)

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.

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Institutional Ownership by Quarter for SEI Investments (NASDAQ:SEIC)

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