Balyasny Asset Management L.P. Lowers Holdings in SEI Investments (NASDAQ:SEIC)

Balyasny Asset Management L.P. decreased its stake in shares of SEI Investments (NASDAQ:SEIC - Free Report) by 55.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 66,128 shares of the asset manager's stock after selling 82,671 shares during the period. Balyasny Asset Management L.P. owned about 0.05% of SEI Investments worth $5,454,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreFirst Bank & Trust bought a new position in SEI Investments in the fourth quarter worth approximately $31,000. Allworth Financial LP raised its position 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 during the period. First Horizon Advisors Inc. increased its stake in shares of SEI Investments by 25.4% in the fourth quarter. First Horizon Advisors Inc. now owns 578 shares of the asset manager's stock worth $48,000 after purchasing an additional 117 shares in the last quarter. Rialto Wealth Management LLC purchased a new stake in shares of SEI Investments in the fourth quarter worth $55,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of SEI Investments by 25.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 860 shares of the asset manager's stock worth $71,000 after purchasing an additional 172 shares in the last quarter. Institutional investors own 70.59% of the company's stock.

SEI Investments Trading Down 0.7%

SEIC traded down $0.61 during trading on Wednesday, hitting $83.37. 1,073,046 shares of the company traded hands, compared to its average volume of 660,829. SEI Investments has a 1 year low of $62.38 and a 1 year high of $87.25. The company has a market cap of $10.38 billion, a PE ratio of 18.86, a P/E/G ratio of 1.41 and a beta of 0.90. The stock's 50-day simple moving average is $75.46 and its two-hundred day simple moving average is $79.65.

SEI Investments (NASDAQ:SEIC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $1.12 by $0.05. SEI Investments had a net margin of 27.35% and a return on equity of 25.51%. The firm had revenue of $551.34 million during the quarter, compared to analysts' expectations of $556.76 million. During the same period in the previous year, the company earned $0.99 EPS. The firm's revenue for the quarter was up 7.8% compared to the same quarter last year. Equities analysts expect that SEI Investments will post 4.86 EPS for the current year.

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

Insider Buying and Selling

In other SEI Investments news, insider Mark Andrew Warner sold 5,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were 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. The trade was a 79.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Alfred P. West, Jr. sold 1,372 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $76.28, for a total transaction of $104,656.16. Following the completion of the sale, the chairman now directly owns 7,078,708 shares in the company, valued at $539,963,846.24. This trade represents a 0.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,214 shares of company stock valued at $6,293,903. Company insiders own 14.60% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SEIC shares. Oppenheimer reissued an "outperform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Morgan Stanley reaffirmed an "overweight" rating and set a $82.00 target price (up from $77.00) on shares of SEI Investments in a research note on Thursday, April 24th. Piper Sandler raised their target price on shares of SEI Investments from $74.00 to $79.00 and gave the company a "neutral" rating in a research note on Thursday, April 24th. William Blair reaffirmed a "market perform" rating on shares of SEI Investments in a research note on Thursday, April 24th. Finally, Raymond James raised shares of SEI Investments from a "market perform" rating to an "outperform" rating and set a $99.00 target price for the company in a research note on Thursday, January 30th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, SEI Investments presently has an average rating of "Moderate Buy" and a consensus price target of $87.60.

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.